What an estate agent does
A good agent values the property realistically, prepares the documents, produces a property brochure (exposé) with professional photographs, approaches suitable buyers, checks their creditworthiness, conducts viewings, negotiates and accompanies you through to handover. Many owners achieve a better price this way, with less effort and risk.
Agent's commission
Since the end of 2020, the following applies to the sale of flats and single-family houses to consumers: if the agent works for both sides, both pay the same commission. If only the seller instructs the agent, the buyer may bear no more than half. The agency agreement must be in text form. For residential lettings, the client pays principle (Bestellerprinzip) applies: whoever instructs the agent pays the agent.
Finding the right agent
Look for a licence under Section 34c of the Trade Regulation Act (GewO), genuine local knowledge, verifiable references and a realistic rather than flattering valuation. Ask who exactly will look after you and how the property will be marketed. A conspicuously high price in the first meeting is not a good sign.
Sole agency and term
With a sole agency agreement, you instruct only one agent for a set period. This creates commitment and prevents your property from appearing several times at different prices. A term of a few months is usual.
Selling without an agent?
A private sale saves the commission but costs time: valuation, documents, enquiries, viewings, credit checks and negotiation are then all down to you. If you know the market well and have the time, it can be done. For most owners, professional support is worthwhile.
This guide provides a general overview and does not replace legal, tax or financing advice.
