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Agency fees vary wildly in Paris, with Paris Property Group’s among the lowest
Agency fees in Paris vary wildly according to recent study by a property management site, and Paris Property Group has some of the lowest in the city.
Homepilot.com, which manages property rentals in Paris, surveyed 253 agencies in the capital to find out the average commission charged on property sales. They found a range of 3% to 8% for an average property worth €450,000 – which at current price levels would be a 50 m2 apartment in a middle-of-the-market neighborhood. The average fee charged is 5.4%.
They also found that independent agencies charge lower fees than large networks. A difference of €3,256 was found between the average fees levied by each. And this is even higher outside of Paris: nationwide the difference between independents and networks is up to €6,000.
Homepilot’s founder Gille Bourcy says the results are surprising: “The difference is surprising, because you’d expect larger networks to use economies of scale to offer more competitive prices to their clients.”
Typical fees collected by agencies for a property worth €450k range from €13,500 to €36,000 at the higher-fee end. Rental management fees were also looked at in the study. For a property on the market for €1,500 a month, an average fee was 7.4%, with a range of 5% to 12%. Again, independents charge lower fees than large chains.
Paris Property Group charges only 4% if we manage the sale entirely, and 5% if we share it with another agency; still below the market average.