The LogeToi.fr real estate blog reveals the publication of a decree that limits the remuneration of intermediaries to 10%. A ceiling that does not seem very restrictive.
One might think that this is a lot for that. It took nearly two years to publish the decree regulating the remuneration of intermediaries in tax-exempt real estate transactions of the Pinel type. Despite this extended period, it is unlikely that the adopted criteria will change the practice, reminding us of the drawbacks this issue has caused for the executive.
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A sensitive issue
Two years ago, as part of the finance law for 2018, Parliament approved the principle of limiting the fees charged by all intermediaries in real estate transactions, in accordance with article 199 novovicies of the General Tax Code (mainly rental investments under the Pinel regime).
The goal of Senator Albéric de Montgolfier was simple: to prevent commissions from pushing prices above market standards. In fact, many observers have already pointed out the level of prices in these transactions, as the prospect of a tax break sometimes makes buyers less concerned about the property’s price.
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The question then was where to set the bar. In this regard, however, the issue was more complicated than expected. From the outset, the project faced strong resistance from industry professionals, some of whom did not hesitate to threaten to take it to court.
A non-binding limit
Given this headwind, the project was largely diluted in any case. While an upper limit of 5% of the cost price had initially been planned, the leader quickly proposed the less restrictive limit of 10%.
This cost price level of 10% was ultimately retained in the regulation, which was published in the Official Journal during the holidays.
This desire to reduce commissions has made a lot of noise with little result. It is indeed worth noting that, although some operators have raised their voices, the 10% cap is more or less in line with industry standards and is often slightly higher.
Despite the commitments made two years ago, it is therefore unlikely that this policy of regulating the remuneration of intermediaries will lead to a decrease in prices for tax-exempt real estate transactions.