If you are interested in the real estate market, or if you are thinking of buying a house, it is easy that lately you have heard about real estate personal shoppers (PSI), professionals who advise those who want to acquire a home.
ISPs often offer the best investment opportunities because they know the real estate market well, saving time and money when buying a flat or house. But, in which cases is it convenient to hire this service? Who is it recommended for? How much does a real estate personal shopper charge? Is it worth resorting to these types of professionals like Sky Marketing?
What is a real estate personal shopper?
The figure of personal shopper or personal buyer is a growing trend in many sectors. In the case of the real estate market, the work of a PSI is similar to that of a personal real estate consultant, although with some nuances: while a conventional real estate consultant works for both sellers and buyers, a personal shopper only works for individuals who want to buy.
The independent real estate personal shopper began to gain prominence in the North American housing market in the 1980s and its importance has grown over time. The main reason is that every time we want more personalized houses according to our needs , and these professionals know perfectly what their clients are looking for.
The work of the real estate personal shopper
Some of the phases of the work of the ISPs are:
In the first phase, the real estate personal shopper interviews their clients to find out their tastes and, above all, their needs. In this first meeting, the PSI informs future buyers about the viability of their proposal, since clients often have very high expectations with a limited budget.
The personal shopper also takes advantage of this interview to prepare a “check-list” with the essential requirements that the future home must have (location, number of rooms, facilities, common areas, equipment, etc.).
Study of the situation of the sector
Real estate personal shoppers are perfectly aware of the situation in their sector. The second phase of their work consists of studying all the options for their clients, both individuals and real estate companies, and making a first screening based on the criteria agreed with the client.
Before presenting a first selection of properties to his clients, the personal shopper visits those that seem most interesting to him on the spot. Thanks to this «field work», the professional can transmit precise impressions to his clients and assess first-hand interesting questions about facilities, presence of humidity, neighborhood services, state of common areas (garages, gardens, etc.) and of the building in general, etc.
Once you have found one or more properties that suit what your client is looking for, it is time to agree on a price. This is the phase where the ISP puts its experience and its ability to negotiate on the table, always seeking the benefit of its client.
Search for financing
After choosing the home and agreeing on a price, it is time to seek financing to make the purchase. For this reason, ISPs must also be aware of mortgage market trends and bank offers. Only in this way will they be able to offer their clients the most advantageous mortgages and financing options in each case.
Technical validation and processing of documents
Before confirming the purchase, the personal shopper instructs relevant professional reports that will serve for the technical validation of the building (certified energy, ITE, etc.) and will implement all the steps associated with the purchase (earnest money contract, management in the notary’s office and in the property registry, payment of taxes, etc.).
How to choose a personal shopper?
Choosing a real estate personal shopper is not always easy, since this professional will help us make one of the most important investment decisions of our life and must enjoy our total confidence.
One of the main questions of many people is when to hire an ISP. According to our professional experience, the timing depends on your needs, especially if you are looking for a very specific home. In that case, it may be advisable to advise you by PSI from the beginning, that is, from the moment you make the decision to buy. There are also people who hire the services of personal shoppers when they have already selected several houses and want to opt for the one that best suits them. Both options are valid.
Regarding the attitudes, skills and knowledge that usually define this type of professional, we highlight:
- Kind and correct treatment.
- Good presence.
- Patience and empathy.
- Active listening skills to identify the wishes of your clients.
- Knowledge of the real estate market.
- Knowledge of contract management, legal advice, etc.
- Training in coaching and negotiation.
In any case, by hiring the services of a real estate personal shopper you will be acquiring, indirectly, the advice of different professionals to speed up the selection and purchase process (real estate managers, financial advisors, architects, etc.).
How much does a real estate personal shopper charge? Is it worth hiring this service?
The fees of a real estate personal shopper should be seen as an investment rather than an expense, because thanks to their work it is easier to find a property that fits within what we are looking for and with a more adjusted price. In fact, thanks to SPIs, the starting price of a home can be reduced by up to 20%.
However, and precisely because it is a very personalized service, the rate of real estate personal shoppers can vary a lot. And it is that, unlike advisers and “traditional” real estate companies, these professionals do not usually charge a percentage of the sale transaction, but a fixed fee, which allows their clients to know how much they are going to pay from the first moment.
Regarding whether it is worth it, here are some reasons to hire a personal shopper to buy a house:
Both times invested in searches and visits, as well as total time to close a deal tailored for you: between 4 and 6 months on average. Visiting real estate for a long period of time can be exhausting. The personal shopper will do this work and, in addition, will streamline all the red tape and paperwork.
One of the advantages of hiring a personal shopper is their ability to negotiate a better purchase price, since they know the market and the supply / demand in each area, neighborhood or city.
Peace of mind and control
ISPs usually have experience in their sector and know the market situation in your city, so you will pay an adjusted price for your home. In addition, your personal real estate shopper will work exclusively for you, so there will be no conflicts of interest with other sellers.
At Tajarat properties we work without commissions and offer a personalized and complete service to our clients. Are you looking for a flat or house in your city? Get to know all our services for individuals!