Barometer of the morale of real estate agents: professionals worried but combative in the face of the crisis

Partner of more than 10.000 real estate agencies throughout France, Opinion System questioned its members to gauge their state of mind, whether they are member agencies of national networks or independents, in this singular context.

Growing pessimism about the outlook for the sector

59% of real estate agents note an increase in breaches of sales agreements.

At the end of 2022, old real estate once again crossed the symbolic threshold of one million annual transactions. Since then, the situation has changed markedly and several indicators have fallen into the red. Although it is still early to speak of a market collapse, the negative signals are leading to a certain pessimism among real estate agents, whether about access for first-time buyers to property (87%), the conditions access to real estate credit (80%), the stability of real estate prices (57%) or even the economic outlook for the sector (55%).

In general, the confidence of buyers and sellers is a concern for 59% and 55% of professionals respectively.

Fears which are confirmed on the ground, 89% of real estate agents have noted the growing difficulties encountered by buyers to obtain credit... Nearly 6 out of 10 even point to an increase in breaches of sales agreements, for lack of agreement from the bank, even though 63% of professionals note the efforts of buyers to increase their capital contribution.

Fighting energy sieves: good measures… bad execution

Ban on rent increases since August 2022, and now ban on rentals since 2023: the first measures of the Climate Law concerning energy sieves come into force. While France has 5,2 million main residences in energy class F or G – i.e. 17,3% of main residences – these measures are perceived in principle positively by a large majority of real estate agents: 85% of among them consider it a good initiative.

Nevertheless, 80% of them consider that the way in which these measures are implemented is bad. Fears that echo those shared by many professionals in the energy transition sector, whether it is the lack of support for households, the general decline in certain aid or the lack of professionals to carry out diagnostics mandatory as to carry out the work...

The energy renovation sector does not seem ready to support such a rapid transition and real estate agents are well placed to see this.

Buyers are trying to regain control. Sellers do not accept the new deal and camp on their positions

Are individuals adapting to this new situation? Are their requirements changing? Not really on the sellers' side, according to the professionals: 8 out of 10 agents note that they have not adjusted their selling price to follow the evolution of the market, and that they prefer to maintain, against their advice, prices above their estimate.

For their part, buyers seem to be playing the clock: only 31% of professionals have observed an acceleration of projects, despite the tightening of market conditions. In a context of a sharp rise in energy prices and in the face of new constraints arising from the Climate Law, more than a third of them (37%) noted the exclusion of the most energy-intensive goods from the selection of property seekers.

Only a few months after the entry into force of new energy renovation obligations, nearly 1 in 2 professionals note their use as a bargaining lever (47%). A figure to be put into perspective with the gradual acceleration of the sale of thermal colanders noted by 39% of real estate agents.

So many considerations that lead to longer transaction times for 86% of professionals. Consequence: 70% of professionals testify to difficulties in identifying properties for sale, and 57% of properties for rent.

For Samantha Domingues, Deputy General Manager of Opinion System: “This study underlines the essential role of the real estate agent in supporting individuals in taking into account the new market context. If it is not surprising to see that a seller wishes to sell as expensive as possible, and that a buyer wishes to find a property at the best price, there is an important educational work to be carried out to take account of the situation. economy or even the rise of green value in real estate which has become a very concrete reality. In a difficult general context, it is also interesting to underline the confidence and the combativeness of the professionals, who certainly are worried about the situation but remain for the moment mostly calm about the development prospects of their agency and the maintenance of jobs. It is also interesting to note that real estate agents, although they judge the terms of application of the Climate Law harshly, are nevertheless very favorable to the fight against thermal sieves. »