Buying a pre- construction condo in Toronto could be an easy process but finding a project at the best possible price is not that easy. Developers have a staggered marketing formula and generally it looks like this:
 
1.The first people to know about a project and able to secure a unit are friends and family of the developer. Do you know someone that has a close relationship with that particular builder? They can probably secure a unit for you at the best price and with great incentives. There are generally 5-10% of total units in a project that being sold this way
 
2. Next marketing phase is the Platinum VIP agents. Working with a realtor that has these platinum privileges is the second best way to secure a good unit in a pre-con project. The largest amount of inventory is being sold in this phase (about 30-40% of total inventory)
 
3. VIP Agents - is a larger amount of realtors that are being given access to sell units before all other realtors. In this phase, 20-30% of units get sold
 
4. All Real Estate Agents get access to the project in this marketing phase but by this time the best units are already gone
 
5. General public that have pre-registered with the developer get access to what is still available of the total inventory (5-10% of remaining units are being sold)
 
6. Grand Opening- when everyone can walk into a sales centre and buy a unit from the remaining inventory (last 10-20% of the total number of units. Usually the less desirable layouts, views and prices)
 
So by the time the sales centre opens to the public, most of the units are already sold.
Best prices and incentives are being offered in the first two phases of marketing (friends and family of the developer and platinum phase). There are several new condominium projectS we are selling right now with Platinum VIP privileges. Give us a call if you are thinking of purchasing a unit and we will help you find a project that works for you.

Happy investing!!