Frequently asked questions (FAQ)
Everything you ever wanted to know about property hunting services, or just about!
What is a property hunter?
Property hunters (or home hunters, or flat hunters) are registered real estate professionals who specialise in finding properties exclusively on behalf of a specific buyer or tenant:
- they communicate with clients to determine their requirements
- they seek out and select available properties
- they conduct initial visits
- they provide detailed reports, ensuring that our clients need only visit the properties which correspond to their criteria
- they cover the whole process from negotiation through to signature of the deed of sale or rental agreement
Unlike standard real estate agents, they work on the basis of a “search mandate” only.
Lack of time, geographical distance, a wish to benefit from the expertise of a real estate professional… there are many reasons to use a property hunter.
What is the difference between a property hunter and an estate agent?
Traditional estate agents focus mainly on taking on properties with a view to promoting and selling them. Their clients are vendors, and they generally specialise in a specific area with a stock of properties limited to that area.
Property hunters, on the other hand, work on behalf of buyers, selecting properties and providing a bespoke service which includes:
- substantial time saving
- superior responsiveness
- a knowledge of the market and its key players
- neutrality regarding offers and sale prices
- access to all of the properties openly available on the market, and a good number of those available only to professionals
- constant availability
Estate agents and property hunters are complementary professionals who work in partnership.
Do I need a property hunter?
The property hunter option is perfect for individuals, small business owners or independent professionals looking for the reassurance and efficiency which comes with a “turn-key” service provided by real estate professionals.
Small business owners and independent professionals
You may not always have the time or resources available in-house to find a new location for your business quickly and efficiently.
That’s where Perle Rare comes in, seeking out the ideal office or commercial space, whether to buy or rent. We can also offer advice and support as you plan and manage refurbishment work at your new premises.
What are the regulations governing property hunters?
As with all professionals involved with property transactions, property hunters in France are subject to the Law of 2 January 1970 known as the “Loi Hoguet” (cf. Art 1 L. 02 Jan 1970) and the related implementation order of 20 July 1972.
Property hunters must hold a professional licence, the “Carte T”, issued by the Préfecture de Police or, since 1 July 2015, by the nearest Chamber of Commerce and Industry (CCI). They must also have professional liability insurance, a financial guarantee and a search mandate.
Perle Rare is registered as professional card-holder No. CPI 7501 2016 000 011 828 with the Paris CCI. We have a professional liability insurance contract with SAA, and a financial guarantee granted by SOCAF.
What does a search mandate entail?
Signing a search mandate is a commitment that you, as a buyer (or potential tenant) will not attempt to deal directly with any vendors (or landlords) or their representatives (e.g. an estate agent) whose properties have been brought to your attention by the delegated property hunter. This obligation may remain in force for a period of up to 12 months following expiry of the search mandate.
The mandate also states that the buyer (or potential tenant) will pay an agreed sum to the property hunter if the latter succeeds in finding the right property, resulting in the signature of a preliminary agreement followed by a deed of sale (or rental contract). No fee is payable until the final deed of sale (or rental contract) has been signed.
The search mandate also requires buyers (or potential tenants) to notify the property hunter if they wish to stop the search, or if they have found a property independently.
What is the geographical area covered by Perle Rare’s property hunting services?
At Perle Rare we specialise in finding properties in Paris and the immediate suburbs, in other words those areas of “Greater Paris” connected to the Métro (Neuilly, Boulogne-Billancourt, Levallois-Perret, Vincennes, Montreuil and so on). We have a peerless understanding of this market. Since 2005, we have formed strong partnerships with the leading market players.