A Real Estate Personal Shopper is an independent real estate professional, who offers a series of services to the person who is interested in purchasing a property, either for personal use or to invest in the real estate market. The future buyer hires the services of this professional with the aim of optimizing the process of purchasing their ideal home, obtaining exclusive advice on all aspects of the purchase.
Since when has the figure of the Real Estate Personal Shopper agent existed?
In the last decade there has been a boom in this type of real estate professional in Spain. While in other European countries or in the United States it is a figure that is more consolidated since it has been in the real estate market for more years, in our country there is an increase in the number of operations in which a real estate personal shopper is involved, no longer only with foreign buyers but also with Spanish ones.
Is there a corporation or Association that regulates it?
There is an Association in Spain whose acronym is AEPSI and it means Spanish Association of Real Estate Personal Shoppers. Its objective is for all its members to comply with a code of ethics, which establishes the ethical bases so that Personal Shopper services provide professionalism, quality and prestige to the profession. They also provide training tools and promotion of business development, collaborating with other prestigious associations in the real estate sector nationwide.
What is the difference between a real estate agent and a real estate personal shopper?
The traditional real estate agent will normally offer you properties that they have available in their portfolio or in the portfolios of other collaborating agencies through their Multiple Listing Service (MLS) or other property platforms. While the Personal Shopper will use other sources to find the property that fits your preferences or needs, such as property managers, law firms, building concierges or doormen, cold calls and individuals who are interested in sell your property, as well as the search for properties that are off the market thanks to contacts and the use of technologies.
Services that include hiring a Real Estate Personal Shopper
- A first meeting with the buyer, which will help them establish their preferences and needs regarding the house they want to buy, such as type of house, distribution, number of rooms, area in the city, etc.
- Evaluation of a maximum budget for the purchase taking into account the expenses it entails.
- Carrying out a pre-financial feasibility study.
- Active search for properties that fit within the preferences established by the buyer through the different means available to them and which we can see below.
- Selection of properties that will be presented to the buyer so that they can evaluate those that best suit their needs.
- Visit to the properties in which the buyer has been interested.
- Preparation of a report that will detail the characteristics of the chosen property with its advantages and disadvantages, its expenses, market analysis and offer proposal for the purchase.
- Management of legal documentation procedures for the deposit contract and signature at the notary.
- Post-purchase procedures regarding changes of ownership in supplies and other services if this is contracted.
Advantages of hiring a Real Estate Personal Shopper
Normally buying a house involves time and personal financial costs, which can sometimes end up in stressful situations for the person who is determined to buy, even for the family unit.
Given that the Real Estate Personal Shopper has extensive experience in different home buying and selling situations, when hiring them you are putting at your service a series of skills such as:
- Your professional vision.
- Your knowledge of the market.
- Your negotiation skills.
- Your analysis of the purchase in terms of investment.
- The proper closing of the operation.
- The bureaucratic procedures inherent in purchasing your home.
So basically the advantages of hiring a professional to manage the purchasing process of your next home would be:
- Saving time that you can use on other things that are more productive for you.
- Avoid disappointment and worry by delegating all work to your PSI.
- Save money, since the PSI will negotiate for you.
- The security that the PSI will exclusively look after your interests and not those of the selling party, since you are its client.
Fees, what is the price of this service?
As in any liberal profession, when performing professional work there is a bill to pay for the services received. Normally, a percentage of fees is usually agreed between 1 and 3% of the agreed price of the sale of the property, depending on the services contracted.
There are also contracting modalities that combine a fixed part of fees plus a variable percentage depending on the success of the operation.
The fees and details of the services to be contracted will be agreed in advance through a professional services contract, and normally 50% must be paid in advance to reinforce the commitment between the PSI and the purchasing party.
Why hire a Real Estate Personal Shopper?
If you are a person who does not have much time available during the week to make visits or perhaps you live in another city and do not know the real estate market in the area to which you are going to move, or have had a negative experience in a real estate operation, previous purchase and sale and you want to avoid undesirable situations, or maybe you simply want to hire a trustworthy person who will look after your interests better than anyone from the beginning to the end of this decision as important as the purchase of your future home, then Do not hesitate to hire a Real Estate Personal Shopper.
At JC Pimentel we provide this service to our clients. If you want more information, ask us without obligation.