a source of stress and worry

casavo, the real estate platform specializing in Guaranteed Sale, has analyzed with OpinionWay the stages of the sale of a property. How do you live with the sale of your main residence? It is an important event in the life of the French and often a long and tedious process.

Why is the sale of your principal residence a significant event?

This survey reveals that the sale of the house or the apartment that one occupies is considered an essential moment in one’s life course. However, this step can be complex and tedious.

Indeed, it appears that the sale of one’s principal residence can prove to be a most stressful operation. Thus, it can be compared to other important life events such as:

• exams (54%),
• obtaining a driving license (53%),
• the organization of a wedding (55%),
• the birth of a child (43%).

Moreover, for a majority of French people, this approach is almost as difficult to bear as a tax audit (52%) or a change of job (54%).

Comparison of the sale of his principal residence with other important events

Indeed, one can wonder about the reasons why the sale of his principal residence is considered. First, we talk about the emotional connection. Because, the house where we live is often associated with many memories and a part of our life. However, it is difficult to leave a place that is considered a home.

Furthermore, selling a house or an apartment can be a complex process involving many steps and delicate decisions. We must then face challenges while managing our daily life. Not to mention the financial challenge with a loan that sometimes commits us over a very long period. Sometimes it’s also a change of life, whether it’s a move, a new neighborhood or a new environment.

Women experience this change with more concern

59% of owners surveyed view the sale of their main residence negatively. Women are more frequently worried (36%) and stressed (37%) than men (32% and 27%). Moreover, some women are even panicked (15%) or discouraged (10%) while men say they are more serene (27%) and optimistic (20%).

This is why 8 out of 10 French people are willing to hire a real estate expert for their serenity and to guarantee the sale. This attitude encompasses several concerns, such as:

• the fear of selling their main residence at a bad price (69%),
• Too long a sales period (66%),
• Not finding a taker (54%).

In this, the study confirms that selling your main residence is such an ordeal that the French need to calm down.

“Unsurprisingly, 79% of them favor using a real estate professional to facilitate the sale throughout the process. Thus 4 out of 10 French people are ready to pay more agency fees to guarantee the net selling price and 3 out of 10 to guarantee the selling time.” – Bertrand MARTIN, Managing Director of Casavo France.

The experience of selling your main residence

Selling your main residence is a complex process involving several players. Thus, the French are used to placing their trust in:

• a notary (82%),
• a real estate agent (73%),
• craftsmen responsible in particular for energy audits (66%),
• to potential buyers (63%),
• their banker or a real estate broker (60%),
• their insurer (54%).

However, in the face of newer and still largely unknown offers, only 23% of respondents trust an online real estate platform.

Obviously, the confidence of French owners in the actors of the real estate chain is confirmed. Since 80% are satisfied with the sale of their property and 77% consider it sold at the right price.

Nevertheless, the fears of the French are not totally unfounded. Because 42% experienced the sale as a difficult moment. In addition, 31% believe they took too long to find a buyer. Finally, the period of the sale of their main residence remains a bad memory for 27% of French owners.

What are the most difficult steps when selling a property?

Selling real estate can be a complex process that involves several difficult to manage steps. So, the 6 hardest steps include:

• Find a buyer (33%). It can be time consuming and often requires a lot of marketing effort to attract potential buyers.
• Management of visits (30%),
• Price negotiation (24%). Indeed, there may be debates over the selling price, which can make negotiating difficult and stressful with potential buyers.
• Estimate of the property (22%). This delicate step can have a significant impact on the success of the sale. This therefore requires real estate expertise to correctly assess the value of the property. Consider local real estate market factors and compare to similar properties recently sold.
• Search for a real estate agency (15%) ex-aequo with the wait before the release of funds,
• Negotiation of a real estate loan, bridging loan (14%).

In addition, other steps can be tedious, such as:

• Prepare the documents of the sale. Such as contracts, deeds, etc. It can be complicated and tedious.
• Obtain necessary permissions. Depending on local rules, certain permissions are required to sell real estate. This can lead to additional delays and challenges.

What are the biggest concerns when selling your principal residence?

Finally, among their greatest concerns, owners who have already sold a property cite:

• A possible withdrawal of the buyer (74%),
• Not finding a buyer quickly enough (70%),
• The sale has? too low a price (68%),
• The buyer cannot find the necessary financing (67%),
• The impossibility of buying the coveted property due to a problem when selling their main residence (44%),
• Cancellation of the sale due to a compliance issue (39%).

In summary, the sale of one’s main residence is one of the pivotal, but sometimes traumatic moments in the lives of many French people. Thus, the vast majority of owners use a? a capable real estate professional to support them and reassure them.

“ Casavo’s ambition is to offer the security of a Guaranteed Sale via our platform. Moreover, the latter already brings together a community of 120 real estate agents in the field and 100 more by the end of 2023. Their daily mission is to positively transform the process of real estate sales through digital technology, so that it becomes a good souvenir for 100% of the French!” -Bertrand MARTIN.