3,000 estate agents in France face closure

20,000 jobs at risk as property experts mark time until Covid-19 lockdown ends

Up to 20,000 jobs could be lost as 3,000 estate agencies close due to the pandemic, real estate federation Fnaim fears.

After a record 2019, which saw more than a million residential property sales registered in France, many agencies are in “mortal danger”, said Fnaim president Jean-Marc Torrollion.

“Our members have no less than €400million in transaction fees waiting to be transferred, but are being held up by the final paperwork,” he said.
“The survival of whole swathes of the real estate profession is at stake. Nearly 3,000 agencies could close their doors in the next months, and 20,000 jobs threatened, if the network ...

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