Why and how do you sign a real estate search mandate?

Leaving at the Looking for the apartment or the house of your dreams requires a good methodology, discipline, a good network and a good dose of perseverance. Without experience, this search is often the most time-consuming and painstaking stage of a real estate project. This is especially true if you are looking for a property in a coveted geographical area. Sign a research mandate allows you to entrust this task to a real estate professional. This greatly increases your chances of find and win the sale of a property That suits you. The icing on the cake: a research mandate does not necessarily involve additional costs, on the contrary!

What is a research mandate?

The research mandate, sometimes called a “purchase mandate”, is a contract signed between an individual wishing to buy real estate and an agent, i.e. a real estate hunter or a real estate agency.

By signing a research mandate, you entrust the mandatary with the mission of looking for and finding an apartment, a house or a building plot in accordance with your requirements.

Once the ideal property has been found, the agent accompanies the purchaser at each Real estate purchase stage, from the offer to purchase to the signing of the authentic act.

At Kyka, we also support our customers after the purchase of the property. Our real estate project managers are trained to find apartments or houses that can be purchased and renovated. The reason is simple: buy an apartment or a house with work to be done makes it possible to create a home that suits you and that is energy efficient, thanks to the improvement of the DPE.

Although it is sometimes more difficult to find a rare gem to renovate, we usually find the ideal property within a month. Once the property is purchased, our interior design studio ensures the renovation of the apartment (or your new house) in order to improve its comfort andincrease its value on the real estate market. Tell us about your project by doing a quick simulation, then make an appointment with one of our project managers to receive personalized advice!

“I was supported by Kyka in the realization of my project and I am very satisfied with the result! All the teams listened to me and fully understood my expectations. I am delighted to have been supported by the Kyka service and I advise anyone who wants to carry out a tailor-made and innovative real estate project to go for it!”
Olivier Dhalluin

Difference between search mandate and sales mandate

In a sense, the sales mandate is the opposite of the research mandate. This contract is signed between an individual who wishes to sell his property using the services of a real estate agency.

In this case, the agent is responsible for presenting the apartment, house or building land to potential buyers and supporting the owner in the sale of his property.

Rights and obligations of signatories of a research mandate

The signing of a research mandate binds both parties to the contract.

On the one hand, the purchaser undertakes to :

1. pay a commission to the agent after the sale of the property,
2. inform the agent of any purchasing process in which he is involved. For example, he should not seek to oust the mandatary by negotiating directly with the owner of a property he is interested in,

In return, the mandatary undertakes to :

1. offer the purchaser to visit properties corresponding to his search criteria,
2. carry out its research in a transparent manner, taking care to keep the purchaser informed of its progress by regularly sending him reports,
3. put your expertise at the service of the purchaser, by sharing useful information to help them make their purchase decision.

Finally, a real estate professional can have a research mandate only if he has a T card. This is a document issued by the Chamber of Commerce and Industry (CCI), valid for 3 years, which attests to the skills and ability of a real estate professional to carry out various real estate transactions: purchase, sale, rental or subletting.

Why sign a search warrant?

One research mandate has several advantages:

• It saves time by delegating a time-consuming task
• It allows you to find a property more quickly by benefiting from the expertise of a real estate professional.

To save time

Looking for a nice apartment or a nice house for sale is often the most time-consuming step in any real estate project, especially during a first real estate purchase.

The research mandate saves valuable time by entrusting the exploration and sorting of existing real estate ads to a professional. He is responsible for evaluating the interest of each property by taking into account your search criteria.

So you avoid unnecessary visits and you can focus only on real estate that deserves your attention.

In addition, a real estate hunter must be particularly responsive when a property corresponding to your wishes is put on sale. This responsiveness allows you to be one of the first to visit the property and, if necessary, to send an offer to purchase to the owner. This way, you increase your chances of winning the sale!

To benefit from the expertise of a real estate professional

That you want buy your main residence or buying a property to rent it out, finding the ideal property on your own can be tedious.

‍As a specialist in real estate hunting, an agent has an important professional and personal network. This gives him a definite advantage, whether it is to find the rare pearl or to be aware “at a glance” of the properties for sale that correspond to your project.

In addition, the role of the real estate professional is also to advise you, by accompanying you during the visit of an apartment, for example. You can trust the advice of your agent because the latter does not have the right to sign a search warrant and a sales mandate for the same property. It is therefore not in his interest to push you to buy a particular property.

Benefiting from the keen eye and expert advice of a professional ensures that you are aware of what you need to know before buying an apartment or a house. For example, it allows Asking the right questions when viewing an apartment, to make your decision to buy (or not) in an informed manner and to avoid making certain mistakes that can make you regret buying a real estate.

Call on Kyka to be supported by experienced professionals at each stage of your project!

“A big thank you for your support. I immediately felt confident and understood my needs and expectations.
Congratulations to the whole team for your attentiveness, your availability and the respect of deadlines, which was very important for me.
I am thrilled with the end result: thank you so much.”
Muriel Bardoux

How much does a search warrant cost?

In principle, a research mandate involves the payment of a commission to the real estate hunter. These are called “agency fees.”

This commission is only payable on condition that the real estate transaction is finalized. The signing of the mandate, a promise to sell or a sales agreement does not justify the invoicing of agency fees. It is only after the signing of the authentic act of sale that the agent is entitled to receive fees.

In addition, the agency fees related to the research mandate are not considered to be part of the selling price of the property. Therefore, they are outside the base for calculating notary fees. So, signing a research mandate can be a source of savings!

Once the sale of the property is complete, the fees of a real estate hunter generally represent between 2 and 4% of the sale price. At Kyka, our goal is to support you in the purchase and renovation of your property. Our services include:

1. The search for the property that perfectly matches your criteria,
2. Support at each stage of the real estate transaction,
3. The architectural design by our interior design studio,
4. The management of renovation work from A to Z,
5. The furnishing and production of tailor-made carpentry,
6. Home decor is good until you are proud of (home)!

Our fees represent only 5% of the sale price and renovation work. By using Kyka, no agency fees will not be required once the real estate transaction is complete. Our remuneration is due only when your real estate project is completely completed.

To find out more about the support we offer, make an appointment with one of our real estate project managers!

The legal regime of the research mandate

The legal regime of research mandate was initially governed by the Hoguet law enacted in 1970. In March 2014, the Alur law has updated the regulations in force on the real estate market.

The Alur law recalls that:

• The signature of research mandate must take place before the visit of the property. If the signature takes place after the discovery of the property to be purchased, this can be considered as an manipulation aimed at reducing notary fees,
• The agent must be a T card holder or authorized by the T card holder,
• The signature of research mandate does not justify the immediate payment of fees to the mandatary.
• The duration of research mandate should be limited in time,
• 3 months after signing, a research mandate exclusive can be cancelled free of charge
• The agent must guarantee his client the use of a mediation system (if necessary)

Content of a search mandate

In order to be legally valid, the content of a research mandate must precisely detail the mandate of the mandatary, his remuneration and the conditions to be respected in order to exercise this mission.

In concrete terms, a search warrant must contain the following information:

1. Identity of the purchaser : name, first name, civil status, nationality etc...
2. Identity of the mandatary : name of the agency, SIRET, T card, civil liability insurance...
3. Agent remuneration : fees can represent a percentage of the selling price of the property or a fixed sum.
4. Characteristics of the property you are looking for : type of housing, geographical area, condition of the property, number of rooms, number of rooms, heating method, energy performance, neighborhood, constructability etc... It is important that the description of the property be as detailed as possible.
5. Price of the property sought : it is not mandatory to give a fixed price but at least one price range,
6. Term of office : generally 3 months, with tacit renewal and the possibility of cancellation without charge after this period,
7. Duty to provide information and transparency : the search mandate must describe the means implemented by the mandatary to keep his client informed‍
8. Type of mandate : the contract must state whether it is an exclusive, semi-exclusive or simple research mandate

Simple mandate and exclusive mandate

A simple search mandate allows you to request the services of one or more real estate hunters. This type of contract also allows the purchaser to do his own research and directly buy a property that he likes.

An exclusive research mandate entrust the search for the property only to the agent. This type of mandate can also give the agent the freedom to negotiate the price of the property with the seller and even to sign a sales agreement.

In this case, if the purchaser finds himself (or through another intermediary) a property that he wishes to buy, the agent is still entitled to payment of his fees.

In practice, it is more interesting to sign a exclusive research mandate if you are looking for a property with specific characteristics. By signing an exclusive mandate, the hunter can fully invest in the search for your property because he is not in competition with other professionals (or yourself). This allows you to benefit from quality support.

By calling on Kyka, you can count on our commitment and determination to find you the apartment or house of your dreams. Our research mandates do not include an exclusivity clause because our added value lies mainly in the renovation of the property acquired. Regardless of who finds the property of your dreams, our teams will accompany you from the first visit to the end of the renovation work.