Real estate professions have a great future as the market is still very dynamic between purchase, sale and rental. It is not surprising that young graduates interested in this sector decide to create their own agency. Here are the requirements for setting up a real estate agency.
Before carrying out the administrative steps, to create a real estate agency, it is necessary to start by studying its project, its viability, the necessary financing and then the installation of the project. Once you have completed these steps, you can start the administrative procedures. First of all, you have to apply for registration in the Trade and Companies Register. Alternatively, you can apply to the nearest Commercial Court. Then, depending on the activities, you need to take out a financial guarantee and civil liability insurance. Finally, you have to apply for a professional estate agent’s card from your CCI. These guarantees are compulsory according to the Hoguet law of 2 January 1970. The civil liability insurance covers all the risks you incur in your activity as well as material and physical damage. You need a contract for an agency and a contract for each agent who works for the agency. Next, financial security is important to cover all the funds and property you hold on behalf of your principals. This can be a tenant, a seller, a buyer, or a co-owner.
Working as a real estate agent requires specific training and experience. Please note that proof of skills and experience is required when you apply for a real estate agent’s professional card. You must have a Bac+3 degree in law, economics or commerce, a DUT legal careers specialising in real estate, a BTS real estate profession or accountancy-management or a diploma from an institute of economic and legal studies applied to construction and housing. You can also validate your skills through professional experience for a minimum of 3 years if you have a baccalaureate or 10 years if you have not passed the baccalaureate.