Real Estate Agency in Monaco: Role, Legal Framework and Fees
Monaco has between 150 and 170 authorised real estate agencies on about two square kilometres, for a market of a few hundred resales a year (429 in 2025, according to IMSEE). Choosing a real estate agency in Monaco therefore means knowing what it does, what authorises it to operate and how it is paid. This guide answers those three questions.
What a real estate agency does in Monaco
An agency supports buyers, sellers and tenants. For a seller, it values the property, agrees a mandate, organises viewings and leads the negotiation through to signing at the notary, as we detail in our article on selling a property in Monaco and in the one on valuing a property. For a buyer, it searches, filters, presents properties, drafts the offer and coordinates the steps of the purchase. For a tenant, it builds the file and negotiates with the landlord, following the rules described in our guide to renting in Monaco.
On a market this narrow, part of the work happens before any listing: a well-established agency knows the owners and can present off-market properties to its qualified buyers.
A sector governed by law
To operate in Monaco, an agency must obtain an administrative authorisation under law no. 1.252 of 12 July 2002. This authorisation requires professional aptitude, a financial guarantee and professional liability insurance. Since 8 January 2020, only Monegasque nationals can obtain a new authorisation to open an agency, which is why the number of agencies has stabilised.
A reform of this framework is being prepared. The texts discussed aim to professionalise the sector, notably with an effective residence requirement in the Principality, an end to nominee arrangements, a mandatory written mandate, a professional card and continuing training. Even today, article 12 of law no. 1.252 provides that the holder of the authorisation draws up, at the client's request, a written mandate limited in time. Always ask for it.
The Chambre Immobilière Monégasque and fees
Founded in 1945, the Chambre Immobilière Monégasque brings together part of the market's agencies and sets a scale of commissions. For a sale, fees generally range between 3% and 5% of the price depending on which side of the transaction and on the mandate's terms, plus 20% VAT. For a rental, they amount to 10% of the annual rent excluding charges, plus VAT.
How to check an agency before signing
A few checks are enough to rule out most risks. Ask the agency for its authorisation to operate, and for its financial guarantee and liability insurance. Insist on a written mandate and a precise fee amount. Check who actually represents the agency: a foreign agency cannot sell a Monegasque property on its own, it must work through a Monegasque correspondent.
Choosing an unauthorised agency has a real cost. According to industry professionals, a client who uses an agency without authorisation has no Monegasque legal protection and cannot turn to the Chambre Immobilière or to local mediators.
What sets an agency apart beyond the authorisation
The authorisation is an entry requirement, not a selection criterion. What makes the difference is knowledge of buildings, access to unlisted properties, discretion and responsiveness, points we covered in our article on choosing a real estate agency in Monaco.
How we help
LBMC Properties is a luxury real estate agency based in Monaco, born from the partnership of two long-time friends who decided to pool their skills. We support buyers, sellers and tenants by relying on the actual sales of each building rather than on averages, with access to properties that are never advertised and coordination with notaries, lawyers and tax advisers. Looking for a real estate agency in Monaco to buy, sell or rent? Get in touch with our team for a first confidential conversation, or see our guide to Monaco property for sale.
Sources: L'Observateur de Monaco, IMSEE. This article presents the legal framework for information only and does not constitute legal advice.
