The Benefits of a Platinum Access Agent
You will probably look for an agent to assist you in getting started if you are thinking about purchasing a condo that is still under construction. It can be extremely helpful to have a committed real estate agent by your side to offer guidance, present the best projects, and help you navigate the complex process of buying a condo unit that is still under construction. But who do you actually need?
Once the development’s units are made available for sale to the general public, you can buy a pre-construction condo from an agent working with the condo developer or from a regular sales agent. In the early stages of development, buyers can also decide to use the services of a Platinum Agent. What does Platinum Access refer to, and how can it benefit you as an investor?
What is exactly a Platinum Agent?
A real estate agent known as a “Platinum Agent” has been given authorization by a developer to market and sell condos years before actual construction takes place.
By pre-selling their units, developers in the Greater Toronto Area (GTA) raise money to pay for the construction of condo buildings. A developer will approach a bank for construction financing to finish their project once a predetermined percentage of units have been sold (typically between 70% and 85%).
It’s important to remember that a developer must sell a specific number of units before approaching the banks, so the units available at this early stage are advertised at a discount to entice buyers. However, not everyone has access to them.
Usually, the first round of buyers for new construction are friends, family, and tradespeople. They invite their closest friends and family members to sales. This is the first action. Pre-sales are then made available to a specific number of Platinum Agents who were hand-selected. Platinum Agents, like us, focus on the pre-construction condo market. How are they different? As a result, we have spent years establishing connections with reputable developers throughout the GTA. Developers rely on us to sell the majority of their projects because Platinum Agents are among the best performing agents in the business.
Platinum Brokers will only continue to have access to new developments if they have been approved by the developer and have a history of consistent sales. Because of our privileged status, clients can choose from the best suites at the lowest prices when working with agents like us.
With a Platinum Agent, the Developer Pays the Realty Fees
As previously mentioned, there are various approaches that can be used to purchase a brand-new condo. When the majority of the units are sold, the sales become public, and real estate brokers are then able to take their clients to view the remaining units. But by then, prices will probably have increased by several thousand dollars, and the most sought-after layouts will probably already be sold out.
Our staff at GTA-Homes has been building connections with the area’s leading developers for more than 15 years. We gladly share the advantages of our strong relationships with our clients because we want the best return on your investment. This indicates that working with a Platinum Agent may enable you to receive the maximum return on your investment (ROI). The best part: it costs the buyer nothing to hire a Platinum Agent. Real estate fees are covered by the developer; you incur no additional costs.
You Have Access to the Most Competitive Prices Available.
For investors, pricing in the pre-construction condo market is crucial. Pricing is everything. One way to determine if an investor will see a return on their investment quickly is to purchase a pre-construction condo at the right price. Purchasing an item at a price that is too high may require you to wait several years to turn a profit before spending years catching up to the market. Before any dirt is moved, a buyer can obtain the best deal by collaborating with a Platinum Agent. As an investor, you may benefit from lower costs when you work with Platinum Agents because they give you early access to the best pricing.
You can benefit from momentary buyer incentives.
Unquestionably, a Platinum Agent can put you in the lead. They may grant you exclusive access to the developer’s rewards and special deals, which may include benefits like:.
- VIP pricing
- The right to assign your unit before closing (free assignment clause)
- A special extended deposit structure
- Caps on development charges and levies
- Permission to rent out your unit during interim occupancy (the right to lease)
Working with a Platinum Agent will give you access to the best floor plans and give you first access to the price list. Additionally, you get priceless access to a Platinum Agent’s knowledge, which can really make a difference.
A Platinum Agent Can Give You Priceless Market Information and Insight.
A knowledgeable pre-construction Platinum Agent will be able to offer you guidance in a number of areas that can affect the outcome of your investment. Information about is provided here.
- Comparable condo projects
- Employment growth in a particular area
- Neighbourhood statistics
- Rental rates
- Appreciation rates
- Vacancy rates
- Average income
- New developments coming to the area
- Transit expansions
- Universities and colleges
- Advice on how you can increase your investment
A Platinum Agent can also highlight the advantages and disadvantages of your preferred unit and point out any issues with its layout or location within a building. A seasoned Platinum Agent will also be able to identify the projects with the best price per square foot (psf) in relation to their location to assist you in getting the best coverage for your monthly carrying costs and annual net cash flow. Your Platinum Agent will be able to make an educated guess as to how much your suite might someday sell for.
Finally, a top-notch Platinum Agent will be able to inform you about additional projects that are being considered in the same area and how they might affect your investment.
Your Platinum Agent can handle negotiations.
Reviewing your Agreement of Purchase and Sale (APS) will be a skill that a knowledgeable Platinum Access Agent will also possess. This means that when you sign the Agreement of Purchase and Sale with the developer, they can assist in making sure your documents have the appropriate provisions and incentives and can negotiate on your behalf. Coordination of closing costs with a reliable pre-construction attorney can be facilitated by the right agent. In conclusion, a Platinum Agent has the ability to indicate your potential for receiving HST rebates and can suggest a mortgage broker with expertise in pre-construction condos.
GTA-Homes is a name you can trust.
If, after you buy your unit, you decide to rent out your suite, our seasoned Platinum Agents at GTA-Homes can even assist you with the leasing process. The greatest knowledge about the Greater Toronto Area’s pre-construction condo market can be obtained from our knowledgeable agents. You can gain access to amazing opportunities by collaborating with a Platinum Agent.