Buying/selling in Luxembourg: who pays estate agency fees?
June 5, 2023
When selling or buying a property in Luxembourg, the assistance of a real estate agent is often required. However, it is essential to understand the fees associated with these services. This article takes a closer look at real estate agency fees in Luxembourg.
Real estate agent fees in Luxembourg are regulated by law. They are generally expressed as a percentage of the sale or purchase price of the property. The standard rate varies between 3% and 6% of the sale price, but can be negotiated between the agency and the client.
As a general rule, agency fees in Luxembourg are paid by the buyer, unless otherwise specified in the sales contract. However, in the case of high-value properties, the costs may be shared between the buyer and the seller.
Real estate agencies in Luxembourg offer a range of services. These include finding the properties matching the client's criteria, organising the visits, negotiating the terms of sale, providing legal assistance and handling administrative documents. Real estate agents play an essential role in securing transactions and provide professional support throughout the process.
It should be noted that some real estate agents in Luxembourg may charge additional fees for specific services. This may include carrying out value assessments, additional advertising or taking professional photographs of the property. It is important to understand which services are included in the agency fees and which are charged extra.
It is advisable to carry out thorough research and compare the fees charged by different real estate agents in Luxembourg. Agency fees can vary depending on the size and reputation of the agency, as well as the quality of services offered. The experience and skills of real estate agents in Luxembourg should also be taken into account when selecting an agency.
In conclusion, real estate agency fees in Luxembourg are regulated and expressed as a percentage of the sale or purchase price of the property. It is important to carry out thorough research, compare rates and understand the services included in real estate agency fees in Luxembourg. Hiring a real estate agent facilitates the process of buying or selling a property in Luxembourg and ensures professional support throughout the transaction.