Developer Direct from CondoNow puts buyers at the front of the line.
If you have never purchased a pre-construction condominium in Toronto you may not be aware of the subtle differences that exist in the buying process, especially as it compares to buying resale.
Buying a resale condo is pretty straightforward. You search and find a suite you like, make an appointment to see it, put in an offer and if accepted, the sale is complete.
With pre-construction, the process is a little different.
Firstly, with a pre-construction condo, to buy at its launch you have to work with a licensed real estate agent to initiate a purchase.
Today however, you now have an additional choice, the option to buy direct from the developer, which, until now was only offered well after a project’s initial launch.
An important secondary variable to understand as part of this process is something known in the industry as suite ALLOCATION.
Before you are given the chance to buy a suite in a pre-construction condo, you must first ASK the developer for the
to buy your suite of choice. This is done via the submission of a form called a worksheet, done as soon as the floor plans and pricing are made available, usually lasting 1-2 weeks.
Once worksheet submissions are closed, the developer then reviews all the worksheets submitted and grants permission to those they feel worthy to buy the units requested. In other words providing ALLOCATION, at which time the chosen buyers can then move forward with the purchase.
But here’s the catch. With the old “agent only” process the allocation of units is heavily PRIORITIZED.
Developers don’t do unit allocations on a first come first serve basis. Many consumers end up being the first to submit a worksheet and the last to receive an allocation. Meaning they will not get the suite they want, at the price they want.
How the allocation process actually works is that developers give privileged or first allocation to a select group of the top selling condo real estate agents in the city, often known as platinum agents.
The problem with this process is that it limits true choice for the consumer.
With true choice to be valid, there needs to be a 2nd option available.
Developer Direct, from CondoNow allows the consumer to buy direct from the developer, at launch, with an even higher allocation priority then that of Platinum agents. Placing you at the true front of the line for suite allocations.
With this priority allocation now available at the consumer level, not just the agent level, the consumer is now put back on an even playing field avoiding the previous roadblocks of privilege and preference.
The difference now, whether a consumer chooses to work direct with the developer or an agent, true choice is now back at their disposal.