FREQUENTLY ASKED QUESTIONS
ABOUT M D G - F R A N C E:
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Are you real estate agents?
No. MDG Consultants-France provides a personalized search service to buyers looking to purchase property, We work exclusively for the interests of the buyer: we do not share agency fees, or otherwise compromise our commitment to finding you the best property at the best price.
Real estate agencies provide a sales force to property sellers. It protects the interests of the sellers, has no obligation to look after the best interests of the buyer, and its incentive is to sell the property to you at the highest possible price.
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Why should I hire MDG Consultants-France instead of hunting for my apartment myself?
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There are plenty of real estate agents both on the ground and on the Internet – can’t I just search on my own for the right property for me?
There is no Multiple Listing System in France, as there is to aid the buyers in the U.S. and other property markets. This means that each agency lists its own properties, and will not show you properties listed with other agencies. When you see a property with one agency it might be separately listed with another, which only means that it will probably sell that much quicker.
Because of this fragmented market, buyers must go from one agency to another, listing themselves as a potential buyer for an apartment. If you happen to walk in when a property just came in the door, you might be the first to see it. But since good properties sell quickly, agencies will rarely call back potential buyers about a property after you have been in to see them, since there are dozens or hundreds of buyers looking for a similar property to you. Moreover, since you will never be back after you find the one apartment you are looking to buy, they have no incentive to call you in particular.
MDG Consultants-France changes all that: We have extensive contacts both with agencies and in the non-agent property markets, including a daily updated database of properties listed for sale in Paris by individuals or private entities without an agency involved. We send your search to our agency contacts every week, to which we are regular, returning customers and therefore worth calling first as soon as the good properties come in. Since searching for your apartment is our full time job, we are first to know about the property, first to see it, and get you there first if it matches your criteria. MDG’s contacts, swiftness, and market savvy work for you to find your ideal property with a speed and success that you simply cannot match on your own.
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If you find an apartment for me through a real estate agent, will I be charged a double commission?
No. MDG Consultants-France significantly reduces its commissions in the event that we find the property through an agency and a commission is payable with respect to the property. The amount of this reduction is clearly set out in the contracts and agreed between us at the start of your property search. Should an agency commission be payable, MDG Consultants-France negotiates the lowest possible commission rates on your behalf, often significantly reducing the agency fee to in essence swallow up the MDG fee.
By using MDG, the cost of your property search is generally lower than working directly with an agency. First, we know the market in depth, and ensure that you are looking only at properties that are well priced and meet your search criteria, whether these properties are being privately sold or represented by an estate agency. In practice, more than 75% of property transactions facilitated by MDG do not use a real estate agent, since we have first-mover access to non-agent properties throughout the Paris market. Thus either way we achieve our goal of minimizing your total cost on the purchase.
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Am I obliged to pay MDG Consultants-France a search fee if I buy a property that I found on my own?
No. MDG works on a success-fee basis. We charge you a search fee if, and only if, you successfully purchase a property that MDG has found for you. We have a mechanism in place to ensure that there is no overlap between properties, which MDG presents to you, and any properties which you may find on your own.
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Is using MDG Consultants-France apartment hunting service more expensive than going through a real estate agent?
No. MDG’s fees are 35% lower than the average estate agency commission rate (5.5% plus value added tax). MDG’s comprehensive access to the market allows us to find your ideal property without using a real estate agent in most cases. In addition, with our negotiation experience and in-depth market knowledge we help you to negotiate the lowest possible purchase price. Using MDG to conduct your property search is an efficient, cost-effective way to find your new home.
MDG significantly reduces its commissions in the event that an agency commission is payable with respect to your ideal property. And if an agency commission is to be paid on the property, MDG negotiates the lowest possible commission rates on your behalf. By using MDG, the cost of your property search will generally be lower than working either on your own or directly with an agency.
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Do you do property searches outside of France?
Yes. San Francisco, CA and New York, NY. Business Model being developed for other European Cities. Currently offices in Paris, Nice/Cote D'Azur, Bordeaux and Argentan (Normandie).
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Do you provide rental search services?
Sometimes. The rentals world is parallel to but different from the buying market. We work closely with relocation services and other individuals who do rental services.
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Do you work with international clients?
Frequently, and international clients make up the majority of our property searches outside of Paris. The majority of our clients in Paris are residents here, most often native French, and many of who have purchased property before. There is no real profile for our clients, except people who value their time and appreciate exceptional customer service.
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How many clients do you work with at any given time?
Each M D G - F R A N C E expert works with a maximum of 4 clients at any one time.
See our other websites for additional information, we look forward to working for you!
Philip Gordon
M D G - F R A N C E
MDG-Consultants-France
http://mdg-consultants.com/desfees.htm
mdgparis@aol.com
001 33 (0)6 21 21 13 55
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