Jul ‘24 - Schedule Your Buyers Consultation

Hello Friends! Starting August 2024, the new law of Buyer Broker agreements will be taken into effect. Since the NAR Class Action Lawsuit had been settled earlier this year, some changes will impact Buyers directly. For those of you that may not be familiar, similar to listing agreements for Sellers, Buyers will be required to sign a Buyer Broker agreement that outlines: 1) Time frame 2)Type of Property 3) Location 4) Compensation amount (% or flat fee) So before touring any properties, all buyers will be required to sign a Buyer Broker agreement. This helps streamline the communication between the buyer and agent to set a successful road map to their shared goal. In light of the new process, it's crucial that I conduct a Buyer's Consultation with my clients. This 30 minute call will go over: Budget, Neighborhood, Financing Options, Brief overview of the Buying Process, and how working with an experienced Buyer's agent can save you money and headache in the long run. To be clear, I treat all my buyer clients with the same care and attention, but now require a document to be signed prior to showing a home. Something else that doesn't change is that Sellers are still able to pay a Buyer Broker fee. Although it can not be mentioned anywhere in the MLS, Sellers will have the option to pay a co-operating broker fee which can potentially cover the commission agreed on the Buyer Broker agreement. For example: Buyer Broker agreement agrees to pay 3% of purchase price. Seller agrees to pay co-operating broker 3% of purchase price. At closing: Seller pays 3% and Buyer pays $0. I hope this example helps clear up any questions. As always, I'm available to help clarify any details. Don't wait, book your Buyer's Consultation with me today. - Thanks for Linking Up - Lily

🏡 JUST LISTED 🏡

West Avenue 1310 15th Street

4 Unit - Multi Family Building - 4 parking space LP: $2,300,000 Adjacent Lot Available For Sale Investment Opportunity in the Heart of South Beach! Presenting 1310 15th St, a charming two-story building with 4 units, with potential for increased revenue. Units #1 & 2 are currently rented on a month-to-month basis, providing flexibility for a new owner. Meanwhile, unit #3 is owner occupied and #4 currently vacant. The list price encompasses all units, making it a seamless investment opportunity. Situated on a 5,600 SF lot, the building spans 4,278 SF of living space, which provides ample room. Located just blocks away from the beach, Lincoln Road, Espanola Way, and Flamingo Park, tenants can enjoy the vibrant lifestyle South Beach has to offer. Don't miss out on this prime investment in a highly sought-after location! RM-1 Zoning. LOT SIZE 12.500 X 112

🔐 SOLD & UNDER CONTRACT 🔐

Sunset Islands 2524 Regatta Avenue 4 BD | 3.5 BA | 3,232 SF SP: $6,250,000 Represented Seller & BUyer Nautilus 4437 Sheridan Avenue 3 BD | 3 BA | 1,843 SF LP: $19,000 Representing Landord and Tenant

See All My Listings

📰 Miami in the News 📰

July is considered "Freedom Month". Recently signed legislature by Governor Ron Desantis, the selected items will be considered tax free. Read Here

🔦 Hospitality Highlight 🔦

CVI.CHE 105 CVI.CHE 105 on Lincoln Road is now open! After a full renovation, the restaurant has expanded with over the top interior artwork and design. The traditional Peruvian cuisine is full of flavors that will leave your palette in awe. From fresh ceviche, sushi rolls, rice & noodle dishes, surf and turf entree options will leave you satisfied. End the night with a romantic stroll along Lincoln Road that connects from beach to bay. Happy hour is served Monday-Friday 5 to 7pm at the bar. Book Your Reservation Here

🎟 Local Happenings 🎟

July 1 - August 30 Miami Spa Month Miami Spa Month is back. This two month long event features treatments and starting at $109. Take a look and treat yourself to a relaxing massage. See Participating Spas

This Month Home Inspiration Mud Laundry Room Lily's Pinterest Inspo

🏗 New Development Spotlight 🏗

The Rider Miami Wynwood Building Highlights - Developer: The Rilea Group (The Bond in Brickell) - Architect: Deforma Studio (Bella Isla) - 146 Units. Delivered fully furnished and finished - 12 Floors - No rental restrictions, will offer a management company if owners decide. Not mandatory. - App for Owners so they can fully manage at their fingertips (rental, blacking out dates, reserving Brightline tickets, etc) - 1 assigned valet space - Studios to Three Bedrooms (each unit comes with Owner's closet) - Italikraft kitchen - Amazing location with just steps away from new Brightline trirail station Amenities Include: - First two floors will be dedicated to retail - 9th floor will host an array of amenities, totaling 20,000 SF - Rooftop restaurant/bar space which will be open to public - 9th floor will have infrared sauna and Turkish Hammam - Pet friendly building - Vinyl Listening room I'd Like to Know More

Have a question on real estate? Reach out to chat!

Lily Choi Real Estate Advisor M: 213.284.5954 lily.choi@compass.com

Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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