What is a personal property shopper?

A personal property shopper is an independent professional who exclusively represents the buyer in a transaction. It is the equivalent of the Anglo-Saxon buyer's agent, consolidated in Madrid over the past decade as the prime market has become more opaque and competitive.

The essential difference with a traditional agency is who each one represents. The traditional agency works for the seller and is paid by them: success is measured by closing at the highest possible price, in the shortest time. The personal shopper works for the buyer and is paid by them: success is measured by finding the best product at the best price, with no conflict of interest.

The service covers the entire process: brief definition, active sourcing on and off market, technical visits, comparative price analysis, negotiation, document review and coordination with notary, legal and tax advisors. A single point of contact from first contact to signing — and, in many cases, beyond (renovation, rental, asset management).

On fees: the Madrid standard combines an initial retainer that formalises the mandate (typically €3,000–€8,000, deductible from success) and a success fee at closing, calculated as a percentage of the purchase price. Standard ranges are 1% to 3%, depending on complexity, budget and asset type. Below €500,000 the percentage rises; above €3M it tends to come down or become a fixed fee.

Is it worth it? For purchases above €500,000 in prime Madrid, average negotiation savings (typically 3–8% of asking price) and access to off-market product comfortably cover and exceed the fees. Add to that time savings, prevention of technical/legal mistakes and, above all, an informed decision. For international buyers or anyone who cannot spend months searching, it is practically essential.

At Lula Select we share specific fee figures after an initial private conversation in which we understand your profile and operation. No commitment, no generic quotes.