Is Your Realtor A Presale VIP? What is VIP Access?
VIP Access for Presale Condos? Is Your Realtor VIP?
This term is thrown around in the pre-construction segment of the market as it is highly competitive to get allocations to condo projects.
Having worked with many clients who have been burned recently by bad realtors, we thought that this would be an opportunity to shed some light on how “VIP access” with agents really works.
What is VIP Access For Presale Condos? Is Your Realtor A Presale VIP Realtor?
Getting VIP access to presale condos as a buyer means you will have the opportunity to get in early by the developers presentation centre and finding out what they offer. By gaining early access this means you have the ability to pick the best floorplan that suits your needs.
The developers know certain local real estate agents and recognize their efforts so agents like Ravi Bhindi with iPreSales get earlier access than the non presales Realtors.
This benefits you as the buyer in many ways. You may have a better selection to choose from and you may also invest in the potential capital appreciation prior to the completion of the building.
At the presale condo stage, in this sales cycle, this offers the buyer the best pricing to VIP agents and their clients.
Purchasers typically have more choices to select because it is in the earlier stage of the development process of the projects.
Presale Investor Tip: Advertise your unit early on in the process — renters love brand new units!
Selecting Your VIP Broker
Your local VIP Broker should be one that has a number of credentials with particular developers across the area.
Not every developer has that type of special VIP status with just any local broker.
This is because not every condo development is built the same. Your VIP broker should be particular about who they endorse.
There are multiple reasons for an agent to not endorse a buiding or project.
For instance, those that include poor finishes, or perhaps a developer has a rather more negative reputation than positive. Another endorsement reason that agents look out for is the unrealistic timing of projections.
We need to know they’re if they are or are not going to fulfill investment strategies that should be in place for both buyers and investors. One way that brokers achieve VIP status is simply by their sales numbers.
Typically the more clients a broker can bring to a particular development or project, the better their status is with that developer, thus giving them VIP access to the best suites at the best pricing!
Your VIP presale condo agent should also be selective about who they work with. They should want their clients to get the biggest return on their dollars with the highest quality end product that will stand the test of time in the areas market.
During this time your agent should be able to show their history of solid relationships with the developers in the area.
By doing this, the agent will obtain much needed information about each building and be able share that information first and foremost with their clients, thus assisting in strategizing for long term investment plans.
A presale VIP condo agent achieves access to Pre-construction properties through sales numbers and network
Another huge bonus benefit of working with a presale VIP agent is early access!
By having early access we are able to offer our clients the very first access to floorplans, first-round pricing and all the information before anyone else.
This is critical to the purchaser. Once the project launches to the public, as in most of the time you’ll notice, the majority of the building is already sold out by the time you want to see their building, and all of the best floorplans are already gone along with the great pricing, a lot higher than you expected.
Here’s a quick example:
A VIP broker gains first round access to a development and the starting price is $1,.000./square foot.
Then let’s say you walked into the sales centre without representation from a VIP broker, you quickly notice the project has been selling for a couple of months. You decide to purchase a condo, but the price is now $1,100./sf.
The outcome is much different. If you’d purchased in that first round with a VIP broker, you would have not only purchased at the lowest price possible, but in two months you would have already made $50,000 on your investment.
Another benefit you should consider when deciding to work with a VIP broker is their access to information from developers on upcoming projects in various neighbourhoods within the city.
Presale condo VIP brokers will know about particular suites or floors that are being held back to sell later in the process, like penthouse suites and sometimes townhomes.
For these reasons, take the option of selecting a presale condo VIP Realtor.
It only takes is a little research to get quickly connected with a presale VIP broker who can get you in the door first, making the biggest return on your investment
Enlist A Season Real Estate Agent
By enlisting the services of a seasoned real estate agent, you can rest assure that you won’t offer more than the house is worth or more than you can realistically afford to purchase. Contact Ravi today, who will approach the deal with a cool head and ensure that all decisions made are in your best interest.
Whether you’re looking for a condo pre-construction or resale, it’s always best to work with a real estate agent that is experienced in the Greater Vancouver Market.
By working with an agent who has experience in both pre-construction and resale condos, you can rest assured that you’ll get all the information you need to make an informed decision about your next purchase.
Ipresale Condos is not just an agency that sells real estate, but our agents believe in educating each client deal with their own professional situation. Please call or text at 604-825-8881 or email at firstname.lastname@example.org