Rates and fees
What is the purpose of French law of 1 April 2017?
The new provisions set out in the decision published on 1 April 2017 in the Official Journal requiring us, professional real estate agents, to display our commission rates or fees, regarding sales as well as rentals.
Although this law is a very binding decision, it is however a positive move, since it will allow making the difference between real professionals and others.
Thanks to this law, a further step is taken towards transparency.
For M&S, one of the leaders in very high-end real estate sector, from St Tropez to Cap Martin, through Cannes, Cap d'Antibes, Mougins and the close hinterland, one of our top assets has always been transparency! Indeed, in order to justify our 6% (excl. VAT) fees on sales of villas and apartments, our 8.3% (VAT incl.) on sales of lands, or our 20% (VAT incl.) on seasonal rentals, we have constantly been trying, these last 2 years, to explain the foundations of our commission rates.
As a specialist of "hyper luxury" niche markets, our agency had to be "prime location"; this is the reason why we settled between jewellery shops Chopard and Chaumet, on the famous Croisette Boulevard in Cannes… with all the implications and consequences.
This policy focusing on micro markets also implies to be present on various paper based documents and high-end magazines, as well as on the Internet, with very expensive campaigns, on Google Adwords etc… ; in short, where our UHNWI clients are…
* organising special events, e-brochures, pop-up stores, travels, congresses, UK, Switzerland, London, Moscow, Shanghai… "you ripe what you sow".
Our staff are chosen according to their competences and remain faithful thanks to our shared professional philosophy and the compensation policy.
To sum up, our loyal clients have perfectly understood our fees, as some of our colleagues who practice the same commission rates.