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How to get the best results from Paris real estate agencies
Why you shouldn’t low ball your price or budget when looking for real estate in Paris: It might seem logical to give your low end budget when talking to real estate agencies in Paris because, of course, you don’t want to leave money on the table, or be taken advantage of, but you might be damaging your credibility right from the beginning.
To increase your chances of getting a call back from a real estate agent, don’t be too conservative in your initial discussion of pricing. If the market price for properties in the area you’re interested in is around €20,000 per square meter, it’s best to indicate that you’re willing to pay the market price rather than quoting a lower price. This shows that you’re serious and open to negotiation, which makes the agent more likely to contact you when a great apartment becomes available.
When negotiating, it’s important to remember that the agent’s first impression of you is crucial. If you come across as too demanding or difficult to work with, they may not consider you for future opportunities. On the other hand, if they view you as a serious buyer who is willing to pay a fair price, they will be more likely to keep you in mind for future listings.
While it’s always preferable to negotiate a lower price, there are situations where it makes sense to pay the full asking price. If you find an apartment that meets all your requirements and has the “wow factor,” it may be worth paying the full asking price to avoid losing the property to someone else. In some cases, offering the full asking price can even give you a legal advantage over other buyers. In France, if you offer the full asking price with no contingencies, they must sell it to you (assuming there are not multiple full price offers!). Bidding wars are not allowed on properties listed through an agency. For sale by owner listings can have bidding wars however.
Ultimately, it’s important to strike a balance between getting a good deal and being open and flexible in your negotiations. By indicating that you’re willing to pay the market price and being responsive to new opportunities, you can increase your chances of finding your dream apartment at a fair price.