[edward.wang]

Hello Urbantoronto,

I have been lurking on this site for many years now, I like it here because I enjoy keeping up to date on what's going on with new developments. I also noticed increasing number of agents coming to the forum and post invitations to new condo sales events. Yes, I am a real estate agent, but also a bigger skyscraper geek...and I don't believe I saw anyone posted an invitation to the agents preview.

I don't usually like to feed into the frenzy of these "sales events" developers host; however, I quite like this project and I will likely be picking up a unit there for myself at the agents preview, hence I am here posting to see if anyone out there is also interested in attending.

Units starts at 259k with parking and a locker included... If you are interested, PM me or email me at edward@edwardwang.ca

thanks,

Edward Wang

 

[edward.wang]

Oh, by the way, the date of the event is June 22nd starting at noon.

I will be picking up an info package early next week.

 

[gei]

I always feel stupid using an agent to buy a NEW condo. The commission they get could be easily going into my own pocket.

Why exactly do I need an agent to tell me not to buy a unit near an elevator or a garbage shute? Agent's arent architects, and can't read floorplans better than everyone else.

We need some sort of system to get rid of real estate agents.

 

[carturo15]

I always feel stupid using an agent to buy a NEW condo. The commission they get could be easily going into my own pocket.

Why exactly do I need an agent to tell me not to buy a unit near an elevator or a garbage shute? Agent's arent architects, and can't read floorplans better than everyone else.

We need some sort of system to get rid of real estate agents.

you are probably right, but not necessary you will get that comission into your pocket, the builders do not care about it and they normally do not give any discount, even if you go by yourself with no agent. Sometimes it is better to make a deal with your agent and share the commission, your agent wont' say not, it's easy money for him

 

[gei]

you are probably right, but not necessary you will get that comission into your pocket, the builders do not care about it and they normally do not give any discount, even if you go by yourself with no agent. Sometimes it is better to make a deal with your agent and share the commission, your agent wont' say not, it's easy money for him

yeah thats usually what it comes down to.

If the builders wont negotiate (ie give me most of the commission they would be giving to a retailer, or equivalent free upgrades), I'll tell them straight up that I'm just going to get a friend (who is a realtor) to buy the same unit with me and have him hand over the commission

 

[lowesthangingfruit]

What pray tell is so special about this new project that distinguishes it from the billzillionth projects and units coming on line or already built ?? A bit lacking on the information side so more info please ??

 

[lowesthangingfruit]

I always feel stupid using an agent to buy a NEW condo. The commission they get could be easily going into my own pocket.

Why exactly do I need an agent to tell me not to buy a unit near an elevator or a garbage shute? Agent's arent architects, and can't read floorplans better than everyone else.

We need some sort of system to get rid of real estate agents.

^ Isn't that what some short moustached German guy try to do back in the 1940s ?? I could be mistaken, my history is poor at best.

As for having the agent telling you about garbage chutes and elevators, just tell him/her that you will pick it up if the agent can secure a 20% drop in price then he/she has earned their commission. If they can't do that, what's the point.

 

[littlemonkey]

I always feel stupid using an agent to buy a NEW condo. The commission they get could be easily going into my own pocket.

Why exactly do I need an agent to tell me not to buy a unit near an elevator or a garbage shute? Agent's arent architects, and can't read floorplans better than everyone else.

We need some sort of system to get rid of real estate agents.

My response is that when developer's have VIP broker openings, you cannot get into the project on that day without a realtor by your side. By the time realtors and their clients purchase all of the choice suites, the developer then releases it to the general public at much higher prices. As a realtor I have sucessfully been able to get my clients preview pricing on the first day of sales. That same client could not walk into the sales centre to purchase on their own.

Also Modern condos had a 1 day 10% deposit, with $12,000 cash back to the purchaser yesterday. I was able to secure 6 units for clients that if they had gone there on their own, would not have received a 10% deposit structure or the cash back incentive as they developers only allowed agents with clients to buy at this event.

So good luck if you you think developers would even budge on prices based on showing up alone.

With regard to King West Life, I have VIP access into the project on June 22nd as well as all of the floorplans and all of the prices. You can PM if interested.

Otherwise if you are looking to buy in King West Life on your own, good luck on June 23rd or later when the developers release to the public and you would not even be able to get the advertised 1 bedroom plus den with parking for $259,900.....guaranteed!

 

[gei]

My response is that when developer's have VIP broker openings, you cannot get into the project on that day without a realtor by your side. By the time realtors and their clients purchase all of the choice suites, the developer then releases it to the general public at much higher prices. As a realtor I have sucessfully been able to get my clients preview pricing on the first day of sales. That same client could not walk into the sales centre to purchase on their own.

Also Modern condos had a 1 day 10% deposit, with $12,000 cash back to the purchaser yesterday. I was able to secure 6 units for clients that if they had gone there on their own, would not have received a 10% deposit structure or the cash back incentive as they developers only allowed agents with clients to buy at this event.

So good luck if you you think developers would even budge on prices based on showing up alone.

With regard to King West Life, I have VIP access into the project on June 22nd as well as all of the floorplans and all of the prices. You can PM if interested.

Otherwise if you are looking to buy in King West Life on your own, good luck on June 23rd or later when the developers release to the public and you would not even be able to get the advertised 1 bedroom plus den with parking for $259,900.....guaranteed!

Yes I realize all this. Which is why I'm saying we need a system to get rid of realtors, instead of developers encouraging them. They are essentially getting paid money to do absolutely nothing.

 

[lowesthangingfruit]

Yes I realize all this. Which is why I'm saying we need a system to get rid of realtors, instead of developers encouraging them. They are essentially getting paid money to do absolutely nothing.

This brings me back to an old post I put up awhile back suggesting implementation of what had occured in the financial brokerage markets in the last 10 years with the explosion of dicount brokerage houses offering DIYers a level playing field as the "pros". SAme thing can be implemented with the real estate market. Make a virtual market with physical asset delivery upon deal closure in which there is equal database access for anyone willing to pay for the data feed with regulations as to disclosure and legal requirments for product offerings on the market. Those that want to do it themselves, do it themselves. Those that want to hire a full service brokerage can still do so. The point is, it becomes a true free market, not this pseudo monopolized thing we have now where certain ppl have special "information" or "deals" that others don't. Time to modernize this medeival system. By the way, I am a real estate agent,.....just kidding. seeing if ur awake.

 

[casaguy]

So good luck if you you think developers would even budge on prices based on showing up alone.

With regard to King West Life, I have VIP access into the project on June 22nd as well as all of the floorplans and all of the prices. You can PM if interested.

Otherwise if you are looking to buy in King West Life on your own, good luck on June 23rd or later when the developers release to the public and you would not even be able to get the advertised 1 bedroom plus den with parking for $259,900.....guaranteed!

You've just demonstrated how sleazy the whole thing is and why real estate agents are getting such a bad rap.

 

[gei]

I know there are many hurdles to overcome. But with the help of the internet, I think we can eventually make realtors somewhat obsolete.

I have absolutely no intention of using a realtor when I sell my condo.

 

[OnceAThief]

Who's gonna list your unit on MLS for you?

 

[Observer Walt]

Who's gonna list your unit on MLS for you?

Ha ha, good question. I seem to remember gei posting his proposal once before. No doubt it is technically feasible. So why hasn't it been done? It overlooks one detail: which agents would feed their listings into a system which has been set up specifically to circumvent the agents?

For those wishing to "do it yourself", the possibilities are there already, and have been for some time. No one is forced to use an agent. The majority of sellers actually don't want to do it themselves. It's just possible that there may be one or two good reasons for that.

 

[gei]

Wow you guys make it sound so difficult.

First of all, it isn't necessary to list it on MLS at all. There are plenty of other venues - craigslist, fsbo.ca, and many other websites. Not to mention putting out signs, listings on condo bulletin boards, etc etc.

If you really wanted to get it on MLS there are plenty of agents who will do it for you for a fixed fee, and let you handle all the selling.

Actually what always makes me laugh is that commercial about realtors. They have a guy who is supposedly selling his house himself acting all annoyed and inconvenienced when some potential buyers show up at his door (having just gotten out of the shower).

The commercial is so ridiculous it makes you see how desperate realtors are getting. I mean if you're trying to sell your house why would you be ANNOYED with buyers coming to look at it?

Ultimately, I feel I would be much more capable of selling MY house than some two-bit agent... who knows more about my unit, my building, and my area? The person living there, or some realtor?