Developers in South Florida continue to build new and exciting projects, mostly in the waterfront condominium category. Understanding the differences between the various projects and the developers behind them is a full time job. Buyers of new construction can be overwhelmed by beautiful sales offices and impressive marketing materials, making it difficult to determine which project is truly right for them. Many buyers believe they do not need their own broker for purchasing new construction, but nothing could be further from the truth. Consider these points and make sure you have a local broker and new construction specialist on your side who understands the marketplace and is looking out for your best interests.

8 Reasons You Need Buyer Representation
- The Developer Has Representation – Developers employ attorneys, other real estate brokers and salaried salespeople who represent them and look out for the developer’s best interest. It is important for you to have someone looking out for your best interest too. Besides, on-site salespeople love working with buyer brokers because we handle a lot of the buyer questions and issues before visiting the site. They depend on us to bring our buyers to their projects and many of them move from one project to the next, so relationships are key to their livelihood.
- Stay in the Loop – Inventory and list prices are constantly changing. You need someone in the local market who can track these changes and report to you in a timely manner. We have relationships with salespeople at the local projects who like to keep us happy and “in the loop”. In addition, we do proactive calls with each sales center for regular updates.
- Negotiating with Developers – If you buy new construction without an agent don’t expect the builder to reduce the price by our commission. Developers do not like low comparable sales in the public record and most refuse to negotiate. However, you may be able to get other incentives from the developer and it is our job to find out what incentives are possible and negotiate those for you.
- Consider and Compare the Resale Market – Developers offer us huge incentives to bring our buyers to their new construction projects. However, we believe it is our job to make sure you understand everything that is available in our marketplace, new and resale. Consider resale opportunities before buying that new condo. Some resales are recent builds that ready to occupy and have never been lived in. Understanding the entire marketplace will benefit you no matter what direction you go.
- Buyer Broker Commission Rebates – Again, some developers offer huge incentives to buyer brokers to bring their buyers to the sales center. We believe in getting paid a fair commission for our services, but in some cases the incentives are high enough that it is only fair to rebate a portion back to you, our buyer. Ask your By The Sea Realty agent about which rebates are available on our local projects.
- Boots on the Ground – For out of town buyers it is especially important to have someone on the ground in the local market. We are out in the field driving by all the local projects on a regular basis and can report back to you with any relevant updates. We can set up virtual tours and conferences at any of the local sales centers. Once you make a purchase we will keep an eye on the project, and your unit, and provide you with constant construction updates.
- Contract and Document Review – While we always recommend that you have the developer’s purchase contract reviewed by an attorney, we can be your first set of eyes on the contract and point out potential issues for you. While contract changes are rarely approved by developers and their attorneys, we can sometimes suggest alternative solutions to issues you may have with the developer’s contract.
- Transaction Management – Once you are under contract on a particular unit it is our job to stay on top of all deadlines, account for escrow deposits, arrange for inspections (yes, we recommend an inspection prior to closing) and reviewing all paperwork and documents related to your transaction. If you plan to finance your transaction we can also provide a list of recommended mortgage companies for you to interview.
For more information about our featured local projects visit our new construction portfolio and contact us about our buyer broker services.