Immo Partner
Lucien Douwes is the manager of Immo Partner, a major real estate player in the north of Luxembourg. He explains how the valuation of a property is a crucial phase during a transaction.
Established in Troisvierges for over 15 years and in Bettembourg since a few years, Immo Partner knows the Luxembourg market perfectly. The professional team of Immo Partner attaches great importance to property valuation, “This is a crucial step”.
Therefore, being accompanied by a locally established agent is essential for several reasons: he knows the environment perfectly, the specificities of the local market and the market pricing, since he has already sold similar properties…”
Everything has a (fair) price
This step requires time and methodology. The agent must observe the environment of the property, study the future constructions nearby, ask the question of a possible added value. “We cannot just assess the value of a property by looking at the price per m² alone. A well-made estimate requires at least two days of work and must be invoiced. For clients who will complete the transaction, this cost will be deducted from the commissions collected by the agency in case of a sale”.
In detail, a part takes place on the spot, the rest of the work is done in the office (the discussions with the municipality, the administrative hassle, …). During the second meeting, a duly substantiated figure is proposed… “The agent is responsible for assessing the right amount. If it is too high, the professional can be taken to court. It is therefore necessary to require a writing. When agencies practice oral estimates, it is a way for them to absolve themselves of their responsibilities”.
The human factor
In this context, trust is paramount. Everyone must know each other well, even if it means asking questions about the career of the professional on one hand, the possible defects of the property on the other. “Our job is a matter of human ties”, insists Lucien.
Therefore, the notion of exclusivity is no longer a taboo. “People are afraid of being tied hand and foot.
Still, they are entitled to seek damages for the money they lost if the agency fails to do its job. Even to terminate their contract. »
And the commissions? Immo Partner sets them at four percent, against an average of three percent.
“It’s a commitment: our exceptional services are worthy this slightly higher commission rate” maintains the manager. “That is why a good estimate induces a fast transaction. Failing that, it is because the property has been misjudged”. Whatever happens, Immo Partner always keeps in touch and suggests reviewing certain details if necessary. In the same way, it is necessary to “know how to refuse a mandate if the seller is obviously too greedy”.
Lucien Douwes therefore calls for beware of free estimates delivered on the website and their algorithms. “It is a mistake to think that you can do this without an experienced agent”.
From the valuation to the finalization of the transaction, using a professional has a cost. It is not appropriate to ignore 350 euros for the valuation of your property at Immo Partner, these cost which does often not even cover the administrative costs of the company and represents a fraction of the amount that the client can lose if an estimate is wrong. “It is also the guarantee of a secure, fast operation at the right price.
