Recent “Ah Ha” Experience With A Sales Rep For A Builder Of New Toronto Condominiums

In the world of resale real estate, most good buyer agents take it on principle that if the buyer is not interested in one particular property it’s not a problem. Just learn from that showing what doesn’t excite the buyer and show them another home.

There’s no pressure on the buyer to buy one particular new condo over another… just what’s best for the client.

In a recent conversation with a builder’s representative, it became clear why that was NOT the case when they deal with a prospective purchaser who walks in the door of their sales centre.

Unlike a resale Realtor, the builder’s rep doesn’t have any alternatives for a buyer… if they don’t buy a suite in his project, he’s lost the sale. As a result, many times the new home buyer might be feeling a little bit of pressure from the sales rep to buy right then and there.

The Government of Ontario also felt that buyers were being put under pressure by builder’s sales reps. As a result the Condominium Act 1998 implemented the 10-day rescission period law which requires brand-new condominium builders to allow the buyer 10 calendar days to change their mind about the purchase.

So, how could a brand-new condo buyer benefit by receiving independent real estate advice from someone NOT representing the builder? The answer… use a normal real estate sales representative – ideally one who specializes in working with buyers.

All condominium builders will pay the buyer agent a commission which will NOT impact on the price the buyer pays. As a result, you get someone who has access to all the suites offered by condo builders across the GTA and who will look out for your best interest throughout the transaction. They can offer advice on which suites will have the better resale value in the future and which clauses in the builder’s contract need to be examined closely to limit closing costs.

Yes real estate agents have access to all the builder inventory. It wasn’t always the case but now RealNet supplies us with all that information. Instead of searching thru newspaper ads (and maybe missing some interesting projects), there’s now a better way to search for a brand-new Toronto condominium. Just go and meet with your buyer agent!

Through the RealNet system, Realtors can search for new construction in any of TREB’s districts and find homes which are Pre-construction, Under Construction or Standing Inventory for immediate occupancy. We can search by price range and even by your preferred occupancy date.

There was a recent article in the Toronto Sun about how Realtors can help. Click HERE to read it.

If you would like to buy a brand new Toronto condominium AND take advantage of having your own advocate / buyer agent working for you at no cost throughout the transaction, take a moment and fill in this Condo Wish List.

We’ll send you out a complete list of new construction suites that fit your needs. You can then pick from those and let us know which ones you’d like more information on.

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