What is the difference between a property advisor, a real estate agent and a property hunter?
The three titles describe different relationships with the money and with the property. In Monaco, a market of 2.08 km², the difference decides who defends your interest during a negotiation.
| Criterion | Real estate agent | Property advisor | Property hunter |
|---|---|---|---|
| Mandate | Sales mandate signed by the seller | Depends on the firm; check the contract | Search mandate signed by the buyer |
| Who the role serves | The seller first, with a service to the buyer | The party who signs the advisory contract | The buyer only |
| Payment | Commission linked to the sale price; buyer commission of 3% plus 20% VAT | Fee agreed individually | Fee agreed individually: fixed amount, percentage of the price or retainer |
| Access | Own portfolio and network of the agency | Network of the firm | Public listings and off-market properties matched to your brief |
| Interest in the price | Commission rises with the price | Depends on the fee structure | None on the sale price |
| Typical use | Viewing and buying a listed property | Valuation, strategy and structuring | Search for a rare property, remote buyers, discretion |
An estate agent holds an authorisation to operate and belongs to the Chambre Immobilière Monégasque in the case of licensed agencies. Monaco publishes no scale for hunter or advisor fees, and we have identified no protected title for property advisor, so the contract matters more than the label.
Who pays whom: the fee example on €2,000,000
The buyer commission of an agency is 3% plus 20% VAT, which equals 3.6%. Another published guide quotes 3% to 5% plus VAT, paid by the buyer or the seller depending on the file.
| Item | Amount on a price of €2,000,000 |
|---|---|
| Buyer commission at 3% | €60,000 |
| VAT at 20% on the commission | €12,000 |
| Commission with VAT | €72,000, or 3.6% |
| Registration duty on a resale, individual (4.75%) | €95,000 |
| Notary fees (about 1.5% plus €500) | About €30,500 |
| Fee of a property hunter or advisor | Agreed individually, on top |
The total acquisition cost reaches about 9.9% on a resale. A hunter or an advisor charges a fee in addition, so ask how it combines with the commission and request the figure in writing.
Dual representation: when one agency serves both sides
In Monaco, one agency often represents both sides of a transaction: it holds the seller's mandate and introduces the buyer. This is a normal practice, and it creates a conflict that you control by asking questions.
- Which mandate does the firm hold on this property? A seller's mandate means the firm earns its commission from the sale price
- Does the firm disclose its other interests? Ask about ties with a developer, a building or an owner
- Who negotiates the price for you? A buyer-side mandate removes the interest in a higher price
A property hunter under a search mandate has no stake in the sale price. An advisor under an advisory contract also serves you, provided the contract states it and that the fee does not depend on the price.
Local agency or international broker
A local agency holds the authorisation to operate in the Principality, knows the buildings and the service charges, and has relationships with owners. An international broker reaches buyers abroad and offers a network across several countries.
A firm that combines both is well placed. At Balkin, our team combines local expertise since 2005 with the Knight Frank global network, so a buyer or a seller benefits from the Principality's knowledge and an international audience. A firm based on the French Riviera sells in its own market. Check that any firm that proposes a Monaco property holds the authorisation to act in the Principality.
Portals, agencies and off-market properties
Public portals show part of the market. Many residences change hands without a public listing, through agencies, private banks, family offices, building managers or notaries who introduce them to a small circle of qualified buyers.
Access to these properties depends on the relationships of the professional and not on his title. Ask for examples of properties found outside portals, and for the way the firm protects the identity of the owner.
Which professional fits your situation
| Your situation | Profile that fits | Reason |
|---|---|---|
| You live in Monaco and know the district | Licensed agency | You visit listed properties and negotiate directly |
| You live abroad and buy remotely | Property hunter or agency with a buyer team | Pre-visits, video viewings and a representative on site |
| You look for a rare property: penthouse, villa, high floor | Property hunter combined with an agency network | Private introductions before a public listing |
| You need a valuation or a structure before an offer | Property advisor with a legal and tax network | Strategy on price, buyer structure and timing |
| You sell and buy at the same time | Agency with a sales and purchase team | One coordinated calendar for both transactions |
| You value discretion above visibility | Agency or hunter with an off-market network | No public listing and a limited circle of buyers |
Eight questions to ask before you sign a mandate
- Which authorisation does the firm hold, and is it registered with the CIM?
- Which mandate do you sign, and who does it serve?
- How is the firm paid, in what amount and at what moment?
- Does the firm hold seller mandates on properties you visit, and how does it handle the conflict?
- Which properties outside portals did the firm place in the last twelve months?
- What is the duration of the mandate, and how do you terminate it?
- Who handles due diligence and coordination with the notary?
- Which references from past buyers, especially from abroad, are available?
The notary stays independent in every case: he verifies the title, drafts the deed and registers the transfer. None of the three professionals replaces him.
Arrange a private consultation with Balkin to compare these options for your project, in confidence.
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