zeeden

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Overzealous brokers, in true competitive and extreme style, lined up ten days in advance in the hopes of gaining some kind of advantage. This lineup was not sanctioned by the salespeople, and ultimately not honored. I do not fault GG for that at all. I think the overzealous crowd looked for that outcome, and had perhaps a misplaced and erroneous sense of entitlement.

10 Day people were told to wait across the street by GG/Baker and then all of a sudden another line formed in front of the hotel.. You tell me thats not unfair? I know a few who were in that line.
 
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The Condo Observer

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10 Day people were told to wait across the street by GG/Baker and then all of a sudden another line formed in front of the hotel.. You tell me thats not unfair? I know a few who were in that line.

If this is the case, then I sincerely hope the authorities do some digging, and that Great Gulf/ Lifetime take a second look at Baker !! I know brokers who were in touch with Baker leading up to that day, and no mention was ever made of a ten day old line, but they were told to line up at six a.m. that morning to secure a number for the acutal sales procedure later that evening.
 
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littlemonkey

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I think this aspect of the story has been botched. Apparently they deliberately entertained and wooed the chinese brokers at a preview luncheon a couple weeks ago. These agents are known to represent the leading edge of invesor/ flipping chinese-asian clients. I know someone who attended the lunch, and it has been confirmed that the crowd was predominantly chinese. Anyway, chinese or not, this crowd of brokers was given the marketing packages and specific instructions on how sales would be conducted on November 25th. The procedures that were supposed to be put in place were all abandoned or badly executed however, hence the chaos.

So it appears to me that they used the chinese crowd via their brokers to guarantee a certain percentage of units sold, before general release to the public. The crowd that got shafted in the wrong line also happened to be chinese...

But other disgusting element was that on the 24th, there was a VVIP event, where special agents got to pick and choose at leisure from the initial 180 units that were to be released. I would like to know how many of those brokers were chinese.

There is a dastardly strategist in this mix, who attemped to play this situation to maximum advantage. Was it a Great Gulf strategy, or a Baker strategy? I do not think they bargained on things playing out as they did.

Actually I was at the broker lunch and I was invited to the lunch because I had sold some units to clients in X1. I am not Chinese and a number of agents that were there from my office that were at the lunch were also not Chinese. So this lunch was not aimed at chinese brokers/agents but to the brokers and agents that sold a number of units in X1. That being said, many Chinese agents probably did sell in X1 so were invited to the broker lunch. The lunch was not geared to a certain ethnicity but to what Baker feels are their VIP brokers based on sales.
 

The Condo Observer

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Point taken . Chinese or not, the brokers who attended the pre-sales event were pretty much shut out of the process either via the incorrect lineup, or later on when they stopped calling numbers that had been assigned. The process also was open for abuse, as three sales were allowed per agent, and those agents who had just one sale were allowing other agents to use their quota, at a price no doubt.
 

X2 Buyer

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As one of the buyers of the X2 condo, Chinese and being in the X2 sales event Nov 25/09 night, I was told by my agent only 120 units there for sale so it seemed there would be 60 units sold during the VVIP event previously. The VVIP would not be dominated by Chinese ethnic group because if so I would've got the unit I want before the sales event day. Apparently I agree the South line (Chinese agents) was USED. My agent was in the South line so didn't make into the event. I got entered just only because I was able to find another agent in the right line with only one client so 2 free quota left on hand.
 

cdr108

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As one of the buyers of the X2 condo, Chinese and being in the X2 sales event Nov 25/09 night, I was told by my agent only 120 units there for sale so it seemed there would be 60 units sold during the VVIP event previously. The VVIP would not be dominated by Chinese ethnic group because if so I would've got the unit I want before the sales event day. Apparently I agree the South line (Chinese agents) was USED. My agent was in the South line so didn't make into the event. I got entered just only because I was able to find another agent in the right line with only one client so 2 free quota left on hand.


sounds like Baker and GG used a certain group of agents to cause some commotion for free publicity.

i think RE agents and the public should boycott all projects being promoted by Baker, and sold by GG/Lifetime.

BOYCOTT BAKER, GREAT GULF and LIFETIME !
 

CityTownBoy

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The newest saga of the X2 sales frenzy!

I registered on the X2 website as a "non-agent" for the opportunity for an appointment to purchase a suite. I was later contacted by Baker Real Estate on November 19th and granted an appointment on November 29th.

I showed up for my appointment and proceeded to check-in with the police officer posted at the entrance to the sales office. I gave my name and appointment time and was advised that I was NOT on the list. He then advised that other "non-agents" had shown up for their appointments who were also NOT on the list. He then motioned to two disgruntled people standing on the driveway adjacent to the sales office.

Upon explaining my case and showing proof that Baker Real Estate had contacted me (via the all log on my cell phone) I was granted entrance to the sales office. Once inside the Sales Agent explained that all of the "currently released" suite inventory was sold. (I was not shocked given the swift sales reported) She apologized and advised that there was still one more release of suites yet to be designed and released (podium suites). We exchanged contact information and she advised that I would be contacted for an appointment with the opportunity to purchase one of those suites.

I'm not upset that the tower suites are sold out. Given Baker's track record of successfully moving pre-construction Condo inventory in Toronto I am annoyed as to how unprofessional they were in not calling people with existing appointments to cancel. I am shocked that they haven't pulled up their socks, given last weeks events.
 

dt_toronto_geek

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The sales office is still incomplete and they're sold out except for podium suites?

I'm skeptical that all tower suites are sold out. First, some may pull out during the 10 day cooling off period but what I'm more certain about is we're more likely to see the developer release suites that have been "held back" in the coming weeks, at inflated prices of course.
 

cdr108

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The sales office is still incomplete and they're sold out except for podium suites?

I'm skeptical that all tower suites are sold out. First, some may pull out during the 10 day cooling off period but what I'm more certain about is we're more likely to see the developer release suites that have been "held back" in the coming weeks, at inflated prices of course.


an earlier poster indicated only 120 suites were released for sale during the VVIP/VIP broker sale, so i'm pretty sure that's what CityTownBoy meant.

IIRC there's over 400 suites in this building, maybe even 450 since there are 42s plus the ones from the podium too.
 
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X2 Buyer

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The newest saga of the X2 sales frenzy!

I registered on the X2 website as a "non-agent" for the opportunity for an appointment to purchase a suite. I was later contacted by Baker Real Estate on November 19th and granted an appointment on November 29th.

I showed up for my appointment and proceeded to check-in with the police officer posted at the entrance to the sales office. I gave my name and appointment time and was advised that I was NOT on the list. He then advised that other "non-agents" had shown up for their appointments who were also NOT on the list. He then motioned to two disgruntled people standing on the driveway adjacent to the sales office.

Upon explaining my case and showing proof that Baker Real Estate had contacted me (via the all log on my cell phone) I was granted entrance to the sales office. Once inside the Sales Agent explained that all of the "currently released" suite inventory was sold. (I was not shocked given the swift sales reported) She apologized and advised that there was still one more release of suites yet to be designed and released (podium suites). We exchanged contact information and she advised that I would be contacted for an appointment with the opportunity to purchase one of those suites.

I'm not upset that the tower suites are sold out. Given Baker's track record of successfully moving pre-construction Condo inventory in Toronto I am annoyed as to how unprofessional they were in not calling people with existing appointments to cancel. I am shocked that they haven't pulled up their socks, given last weeks events.

If you still want to purchase X2 condo, check out kijiji some agents have already posted their units there for sale/name change. Making sure to compare the price with the original price list...some are still with the first day price but some are already more expensive~
 

cdr108

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If you still want to purchase X2 condo, check out kijiji some agents have already posted their units there for sale/name change. Making sure to compare the price with the original price list...some are still with the first day price but some are already more expensive~


prime example of what's wrong with this 'profession' !
 

X2 Buyer

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prime example of what's wrong with this 'profession' !

Not necessary the "profession" is the condo flipper though because one of them claimed this is the price she signed on the agreement with the builder. If some clients are interested in buying, the broker has no way to cheat that part. So I assume during Nov 26 to 29 the builder must have increased the price. By how much? This is the mysterious part that we need find out!
 

cdr108

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Not necessary the "profession" is the condo flipper though because one of them claimed this is the price she signed on the agreement with the builder. If some clients are interested in buying, the broker has no way to cheat that part. So I assume during Nov 26 to 29 the builder must have increased the price. By how much? This is the mysterious part that we need find out!


they're also doing it too b/c the realtors want their 4% commission ...
minimum $250K price x 4% = $10K
 

zeeden

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if you wanted it you could have waited in line yourself or wait until the broker raises their prices and you can buy then..

Buying from the agent now is probably going to be a lot cheaper than buying from the developer when they release the rest of their units at highly inflated prices. the 4% commission that agents receives comes from the developer anyways. a unit selling by the developer for instance at $250k will still be $250k if you buy with an agent or not.

Some developers may cut end purchasers a deal for free upgrades or a locker if you are unrepresented, but agents may also negotiate that in for you as well. There are agents out there who will give you a portion of that 3-4% back or it could be worked into the final purchase price.
 

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