A realtor is the American equivalent of the European estate agent.
The difference does not stop with the terminology as services also vary from one continent to the other one.
Many expatriates are used to appoint their own agent, middle person to work solely for the interests of their mandator, whether it is to sell, to buy or to rent a property. In any transaction you will find the listing agent appointed by the sellor/property owner and the one appointed by the prospect/buyer/tenant.
The 2 agents share the commission.
The legislation framing the estate agencies’ work here in Luxembourg may therefore come as a surprise :
· An estate agent can only be mandated by the vendor – in the case of a sale – or by the landlord – in the case of a rental property -.
· The buyer hunts for a property alone. So does the tenant who also pays the rental commission,
· There is only one acting estate agent for each transaction who also receives a full commission.
Does this guarantee the fairest of transaction ? Not really …
At Monde Avenir, we do restore the balance between parties by giving each of them the same degree of attention and service.
Do you want to find out more ?
Contact us at +362 621 355 207 or drop us a line at firstname.lastname@example.org