Luxury real estate between individuals, an increasing practice ✨
Luxury real estate has always attracted buyers and investors looking for exceptional properties. But, over the years, more and more individuals have opted for the purchase and sale of their luxury goods directly between them, without going through intermediaries such as real estate agents. Why does this trend emerge and what are the advantages and disadvantages? This article explores the reasons which are growing more and more owners to favor luxury real estate transactions between individuals, as well as the best practices to succeed in this type of transaction.
1. Why choose the purchase or sale of luxury property between individuals? 🏠🤝
Luxury real estate is a particular market, often made up of rare goods sought after by an exclusive customers. The purchase and sale between individuals in this sector have become popular for several reasons:
has. Save time and intermediary fees 💸⏳
By buying or selling directly between individuals, it is possible to avoid commission costs for real estate agents, which can reach up to 5 % of the sale price. In addition, direct negotiations with the seller or buyer often reduces the time necessary to conclude a transaction, without the back and forth or the constant research of compromise imposed by intermediaries.
b. Confidentiality and discretion 🕵️♂️🔒
Buyers and sellers of luxury goods can favor a private transaction for reasons of confidentiality. Whether for personal, financial or professional reasons, the sale between individuals makes it possible to limit information disclosed to the public and the media. A luxury property sold between individuals can thus remain discreet, offering a degree of confidentiality that real estate agents cannot always guarantee.
c. Knowledge of the local market 📊🌍
Some buyers or sellers of luxury goods have in -depth knowledge of the local or regional market. These experts can know market trends better than real estate agents, allowing them to make more advantageous transactions.
2. The advantages of buying luxury property directly between individuals 🏠🔑
has. Greater flexibility in negotiations 🏛️💬
One of the major advantages of buying a luxury property between individuals is the flexibility offered by this type of transaction. Without intermediaries, the parties have all the latitude to discuss the conditions of the sale, the price and the methods. This flexibility makes it possible to better adapt to the needs of each stakeholder, whether deadlines, prices or special conditions (furniture included, payment methods, etc.).
b. Access to a wide range of properties 💼🌟
Luxury real estate buyers have direct access to sellers, which allows them to discover properties that may not yet be officially sold on the market. This can offer privileged access to rare properties, goods that do not go through traditional circuits or public announcements. In addition, sellers who choose not to go through agencies often offer their properties at a more competitive price, knowing that they should not pay high commissions.
c. Better understanding of the seller's needs 💬👥
When you negotiate directly with an individual, it is possible to have better communication on the motivations of the sale. An individual will be able to explain the reasons for his choice in more detail, be it a change of place of life, a family development or simply a personal decision. This allows the offer to be adapted according to the seller's expectations, which can lead to better transaction for both parties.
3. The advantages of selling luxury good between individuals 💰🏡
has. Savings on agency fees 💸
One of the greatest advantages for a seller in a direct transaction is the economy on agency fees. In general, the commissions of real estate agents represent between 3 and 5 % of the sale price. By eliminating the intermediary, the seller can save a large sum, which is particularly relevant for luxury goods where prices can be very high. This can also offer more room for maneuver to negotiate the price with the buyer.
b. Autonomy and sales control 🔧💼
Selling a luxury property between individuals allows the seller to keep a total control over the transaction. This includes managing visits, negotiations and administrative procedures. This autonomy can be particularly attractive for those who prefer to manage sales in a personal way and according to their own criteria.
c. Faster transactions 🚀🔑
Luxury real estate owners who sell directly can speed up the process. They do not have to wait for the real estate agent to finalize the procedures, rather organizing visits and discussions directly with qualified buyers. This can also facilitate a faster sale, as the seller can quickly make decisions without having to expect opinions or external validations.
4. The risks and drawbacks of purchase and sale between individuals ⚠️
has. Lack of legal certainty ⚖️🔒
The main drawback of a real estate transaction without the intervention of an agent or a notary is legal risk. The laws governing luxury real estate are complex, and a small error in the documents or the steps can have serious consequences. Without supporting a professional, the buyer and the seller can face legal complications that they cannot anticipate.
b. Difficulty in market price assessment 📉💰
Although some buyers or sellers can have a good knowledge of the market, it is often difficult to determine the fair value of real estate without the expertise of a specialized real estate agent. A poorly evaluated price can cause too fast sale at low prices or overestimation, which could dissuade potential buyers.
c. Less visibility for the property 🏠👀
Real estate agencies have large networks and increased visibility thanks to their portals and announcements. When a sale is made between individuals, the property can have less visibility on the market, which can limit the number of potential buyers.
5. How to succeed in buying or selling luxury property between individuals? 🎯🤝
Here are some practical tips to carry out a transaction between individuals:
- Call on a notary : even without a real estate agent, a notary can help secure the transaction by writing contracts and ensuring that all legal formalities are respected.
- Expected the property correctly : call on an expert or an assessor to determine the actual value of the property, so as not to risk a undervalued or overestimated transaction.
- Make sure the buyer's solvency : if you sell, ask the buyer to prove his solvency in order to guarantee that he can finance the purchase.
- Take care of the presentation of the property : take the time to present the property in your best light, with professional photographs and a neat description.
Buy and sell luxury real estate between individuals, an interesting option 🔑🏠
Luxury real estate can lend itself perfectly to transactions between individuals, offering flexibility, total control and considerable savings. However, this requires good knowledge of the market and strict compliance with legal and administrative standards. By taking appropriate security measures, the purchase and sale of luxury property between individuals can be an advantageous option, allowing personalized and satisfactory transactions.
