“Sold in 24 hours”: this phrase, once exceptional, has become a common sight in the windows of real estate agencies in Paris, Lyon, or Bordeaux. Speed has become a key factor in closing a real estate deal, with traditional buyers regularly outpaced by more responsive competitors. But how do they do it? Quite often, they’re buyers who had the smart idea of using a property search mandate. A system that reverses the traditional logic, placing the professional on the buyer’s side. It ensures constant monitoring and immediate action capability. Here’s how it works.
What is a property search mandate?
A property search mandate is simply the contract by which a potential buyer (the principal) entrusts a real estate professional (the agent) with finding properties that meet specific criteria. It goes beyond:
- A simple introduction between buyer and seller
- Real estate advice, which doesn’t involve an active search mission
- Project management assistance, which is more relevant for construction projects
In short, a property search mandate formalizes the delegation of the property acquisition process. The expertise and network of the “property hunter” are put at the service of the buyer. It flips the traditional agent-client relationship, as the agent now works for the buyer—not the seller.
Legally, this falls under the category of synallagmatic contracts—agreements that create reciprocal obligations and are governed by the Hoguet Law of January 2, 1970, which regulates the activities of real estate professionals.
Who are the “agents” in a property search mandate?
Behind the generic term “agent” in a property search mandate is a range of professionals. All are legally required to hold a professional license or work under someone who holds one, in accordance with the Hoguet Law.
The property hunter
The role of the “apartment hunter” is now well-known to the public. They usually work independently or within a network specialized in “home hunting.” Their main advantage is total neutrality, as they never represent sellers—eliminating any conflict of interest. Typically, they are experts in a specific area, city, or a few neighborhoods. This local knowledge helps them outperform others at every stage of the property sale process.
The real estate agent
Many traditional real estate agents offer a property search service alongside their main business. This makes sense, as they hold a professional transaction license (T card), benefit from a wide network of partner agencies, and have privileged access to property databases. Be aware, however, that they may also hold sales mandates—so watch out for potential conflicts of interest.
The specialized agent by property type
Some professionals specialize in luxury real estate and can identify high-end opportunities. Others focus on rural properties and understand agricultural specifics. Some specialize in lofts or converted industrial spaces. In short, the specialized agent concentrates on a particular niche—luxury, life annuities, or unique properties. These are often complex segments to navigate.
Simple mandate or exclusive mandate?
A simple mandate allows you to hire multiple professionals at once. This increases your chances of finding the ideal property. However, since the agent knows they are in competition, they may limit the resources and time they invest in a non-exclusive search. This option is best for standard searches in less competitive areas.
An exclusive mandate creates a privileged relationship—you work with one professional who is fully committed to your project. Assured exclusivity encourages the agent to dedicate more resources and their network to the search. Legally, this type of mandate can last a maximum of 3 months, renewable by amendment. It is ideal for urgent searches that require full commitment and is becoming the norm in highly competitive markets.
That’s the case in major cities: the available stock of properties in Paris real estate listings, for example, struggles to keep up with demand from both local and international buyers. For in-demand properties like family apartments or those with outdoor space, a significant share of sales (estimated at 20–40%) happens through private networks of agents, notaries, and property hunters—without ever being listed.
What does a property search mandate include?
Focusing on the core of a property search mandate, here are the four key sections. We’ll set aside standard contractual clauses (party identification, contract purpose, withdrawal rights, mediation clause, GDPR protection, etc.).
Detailed description of the desired property
This is the operational core of the mandate. Without these specifics, there’s no efficient or targeted search. They define what the buyer is looking for and give the agent a clear roadmap:
- Type of property (apartment, house, commercial space)
- Main features (size, number of rooms)
- Exact location (neighborhoods, acceptable areas)
- Maximum budget, including fees
- Non-negotiable criteria (elevator, garden, orientation)
Nature and scope of the mandate
This section states whether the mandate is simple or exclusive. It outlines the exact scope of the assignment: is it limited to the search or does it include assistance through the key steps of a property purchase up to the final deed?
Duration and termination conditions
This section specifies how long the mandate is valid. It includes the initial duration (max. 3 months for an exclusive mandate), renewal conditions, and potential early termination terms.
Agent’s remuneration
This section defines the financial terms of the search:
- Amount of fees (percentage or flat fee)
- Payment timing (usually upon signing the final deed)
- Conditions under which payment is due
- Applicable VAT
How much does a property search mandate cost?
Proportional commission is the most common fee structure: between 2% and 5% of the final purchase price of the property. The rate varies depending on the property’s value and the complexity of the search. For a high property valuation, the percentage often decreases—e.g., 3% up to €500,000, then 2% beyond that amount.
Flat fees are another option: between €5,000 and €15,000, again depending on the complexity of the search. This method has the advantage of giving clients a clear, fixed cost upfront, with no surprises based on the property price. Flat fees are often preferred for small property searches.
Mixed systems combine the advantages of both approaches. They include a minimum guaranteed fee plus a percentage based on savings negotiated from the initial listing price. For example, the agent might receive a fixed €5,000 plus 20% of the negotiated savings. This way, the agent’s interests are aligned with the client’s.
Lastly, a presentation clause protects the agent in certain situations. Fees remain due if the buyer ends up purchasing a property introduced by the agent—even after the mandate has expired, typically within 12 to 18 months. This clause traditionally applies if the buyer later reconnects with the seller through other means—such as a private sale platform.