Exclusive service for the buyer

Oct 26, 2020 |

A few years ago, a new type of real estate agent emerged in the Spanish real estate market , which is widely established in the United States. This type of real estate agent is the real estate personal shopper or exclusive buyer's agent. This type of real estate agent makes the potential homeowner the focus of all their actions.

Through an agreement, you agree to rely on a single real estate agency for a short period of time to find you a home. The client benefits from the professional's undivided attention, and the professional, in turn, is responsible for finding you the best property in the shortest possible time.

Below we summarize everything you need to know about the Buyer's Exclusive Service (SEC):

What does the exclusive contract consist of?

It is an agreement established between an individual who wants to purchase a home and the real estate agency that will assist them throughout the process. By signing this contract, the person interested in purchasing a home receives a 360-degree service that guarantees time and money savings, eliminates worries, and avoids conflicts of interest between the parties.

What obligations does the agency that markets the property have?

The real estate agent is committed to efficiently searching for a property at a price and on terms acceptable to the buyer. The process begins with an in-depth interview to understand all the essential elements the buyer desires in their property. This will be reflected in a contract note, which also establishes a deadline for the search and a fee. From this point on, the service consists of four phases: 1) Search and visits; 2) Finding the desired property; 3) Negotiation and purchase; 4) After-sales service.

What commitments does the client make?

The foundation for a project of this nature is mutual trust between the real estate agent and the buyer. Throughout this process, there will be complete commitment, and communication must be fluid at all times to enable decision-making. The more information exchanged between both parties (properties visited, contacts received, changes in preferences, etc.), the easier it will be to approach the process together, especially the negotiation phase, to ensure success.

How long is the contract?

Typically, these agreements are established for a short period, although both parties mutually agree upon the initial assessment. At Albium – Properties in Barcelona, we typically work within a 4-6 month period.

What is the cost of this service?

The price of the service is determined by the complexity of the search and the actions involved. Fees may be fixed or may include a fixed portion plus a variable portion based on the savings the agent can generate.

What advantages does it have for real estate professionals?

The exclusive agreement with the buyer gives the professional peace of mind and allows them to better plan their workload, focusing on a maximum of two or three clients.

What advantages does it have for the buyer?

The buyer is guaranteed a smooth purchase, without any setbacks during the process or surprises related to the property they are acquiring. Furthermore, thanks to the 360° focus on the buyer, which begins with a detailed understanding of their needs, the buyer will save time and money on the purchase.