Why You Need an Agent to Buy New Construction in Miami

Buying something brand new comes with obvious perks; the same holds true for new construction real estate in Miami.

Whether it's the latest modern mansion or a sparkling high-rise packed with exquisite amenities, Miami’s new construction projects are some of the most coveted in all of South Florida. But just because the construction is new doesn’t mean your only worry now is having enough money to buy it.

Each developer works differently, and there are plenty of nuances when it comes to negotiating customization and prices. Without an impeccable foundation in new construction real estate, you’ll likely be hard-pressed to make the most of the transaction.

Below, the team from Prevu Real Estate details why you should work with a real estate agent when buying new construction in Miami, Florida.

What is new construction?

Before you start your home search, it’s a good idea to get a clear understanding of what new construction means.

There are various types of new construction properties in Miami, ranging from custom-built homes and pre-planned townhouses to modern high-rises with luxury features. Where you want to live in Miami can determine what kind of new construction you’ll likely be touring most.

Miami Beach is arguably the cream-of-the-crop for many developers and aspiring buyers. It hosts a wealth of luxury condo buildings and new projects always aim for a slice of the unbeatable views and beach access this neighborhood affords.

If you head to a more tranquil part of Miami, such as Coconut Grove, you’ll probably be working with a custom builder and designing your home from the ground up. This can mean plenty of customization options, but often goes hand-in-hand with an expensive price tag.

Pre-planned new construction condo buildings often have a set design for the soon-to-be-built units and customization options can be limited.

If any of this is making your head spin, rest easy; an experienced agent will not only break it all down for you but will also show you where to look. 

A local guide for your home search

Location is still king when buying real estate, whether new construction or a single-family fixer-upper.

But it can be a handful to explore the myriad Miami neighborhoods on offer, each with its own characteristics and features. A buyer’s agent who knows the Magic City inside and out can help you navigate them faster.

You’ll likely know what you’re looking for in your prospective home before you start your search. Give that information to your agent, and may cut a significant chunk of time you would otherwise spend browsing endless listings. 

But even if you don’t know exactly what you want, your agent can still help guide you. They can show you what new construction is worth checking out to get an idea of location and amenities and help you prepare a game plan to search for the right property.

Experience and knowledge

Those two things make a mighty combo, especially when it comes to handling new construction.

If you get to work with an agent with plenty of experience in Miami real estate and a wealth of  knowledge about new construction, you’ll have a huge advantage when exploring potential homes.

Having a knowledgeable agent by your side not only gives you added confidence to negotiate but an expert that can pay attention to details. They can also be an indispensable resource to help you save money when purchasing a new construction home in Miami. 

Save money with a commission rebate

Making a home purchase more affordable isn’t always easy in a competitive market like Miami, but commission rebates can help flip the script.

When you begin interviewing potential buyer’s agents, be sure to ask if they offer commission rebates. What are they? Commission rebates, or commission refunds, are a portion of your buyer’s agent fee given back to you as savings. 

It may seem strange if you’re unfamiliar with the concept, but modern brokerages like Prevu embrace it to help homebuyers achieve affordability. Prevu invests in salaried agents and streamlined online real estate tools to unlock commission rebates for buyers.

Miami homebuyers who work with Prevu to buy new construction can potentially receive up to 1% of the home purchase price back via the brokerage’s Smart Buyer Rebate. For instance, if you purchase a $1,800,000 new construction condo in Bal Harbour, you may receive a rebate of up to $18,000.

These extra savings can help offset pricey closing costs, cover unexpected expenses, or jump-start a furnishing budget.  

Your agent will ask the necessary questions

It’s important to remember that many developers prefer to work directly with buyers, and for obvious reasons. 

It allows them to bypass an added commission for the buyer’s would-be agent and to upsell the property as they see fit. Developers aren’t obligated to point out any important flags that every buyer should be aware of, such as environmental hazards, flood zones, or what property taxes may look like in the future.

Your agent will come to the real estate transaction prepared to ask the necessary questions so that you can have a full breakdown of potential homeownership expenses.

Interested in buying a new construction home in Miami? Browse listings and see how much you can save with Prevu’s Smart Buyer Rebate.