When a new pre-construction project’s sales center opens, it may surprise some to find that many units or homes have already been sold. This early sales activity is a result of a carefully planned marketing strategy that developers in Toronto often follow.
The Sales Process: Stages of Access
1.Friends and Family Sales Event:
Developers begin by selling a small number of units or homes to their close contacts and relatives.
2.Platinum VIP Agents Access:
Top-performing real estate agents, known as Platinum VIP agents, gain early access to the project. These agents have a proven track record with the developer and offer their clients exclusive deals.
3.VIP Agents Access:
After the Platinum VIP stage, more agents get access, allowing the sales momentum to build.
4.All Agents Access:
The developer then opens access to all real estate agents, often selling another 10-20% of the project.
5. Pre-registrants Access:
Individuals who expressed interest or pre-registered for the project are next in line to buy units.
6. Grand Opening to the Public:
Finally, the project opens to the general public, with prices often higher than during the earlier stages.
The Role of Platinum VIP Agents
Platinum VIP agents are crucial in launching sales for a new project. These agents often secure exclusive unit allocations and offer their clients better pricing during the early stages. In the Greater Toronto Area (GTA), around 100-200 agents specialize in pre-construction investments. They have strong relationships with developers and sell a higher volume of units compared to other realtors. This relationship ensures that Platinum VIP agents receive early access and can secure the best deals for their clients.
Developers’ Perspective on Platinum VIP Realtors
Developers highly value Platinum VIP realtors for their ability to sell a significant portion of a project. To maintain strong relationships, developers offer these agents the best prices, incentives, and early access to projects. This ongoing trust results in Platinum VIP agents receiving perks throughout the sales process, which they pass on to their clients, such as better pricing and favorable deposit structures.
How Developers View Other Realtors
Other realtors do sell homes in new projects, but they don’t receive the same advantages as Platinum agents. Developers naturally prefer to work with agents they have trusted relationships with and who consistently deliver results. These top agents move a large volume of homes, which benefits the project more than working with many agents who only sell a few homes each.
Why You Should Work with a Platinum VIP Realtor
If you’re considering buying a pre-construction home, it’s wise to work with a Platinum VIP realtor. These agents offer significant advantages, such as:
- Working with a specialist who has extensive experience and knowledge in pre-construction homes and condos.
- Securing the best pricing and unit selection.
- Gaining access before the general public.
- Receiving early updates on new projects and promotions.
- Avoiding long wait times when purchasing.
- Reserving specific units or homes ahead of other buyers.
Platinum VIP Access: Not All Realtors Have It
Not every realtor can claim Platinum VIP access to all pre-construction projects. The availability of this access varies by project, and there’s no official list of Platinum VIP agents in Toronto. However, top developers often work with the same agents across different projects. If your realtor has Platinum VIP access for one developer, they likely have it for others as well. To verify, simply ask your realtor directly. If you’re unsure about their response, it may be worth reconsidering your choice of agent.
By understanding how Platinum Access works, you can make a more informed decision when purchasing a pre-construction project in Greater Toronto Area. Working with a Platinum VIP realtor ensures you get the best deals and the most desirable homes before they’re available to the general public.