I’m sure that by now you have all seen various Realtors promoting VIP, Platinum, Gold, Silver, Bronze and any other precious metal-related type access there is. I also know that you probably do not know the benefits of any, so let me give you a quick look into the world of condominium launches.
High-rise builders have adopted a system by which they separate the general public, Realtors and the so called friends and family. During a typical project launch the general public will not be granted access to the floorplans and pricing or allowed the ability to purchase until well after the Agent & Friends and Family sale. This is the primary reason why you NEED TO WORK WITH AN AGENT (there are many others but for the purpose of this article we will focus on this). The benefits are obvious – you get floorplans/pricing before any member of the public does, and you can buy first, securing the most desirable suite.
I have personally seen and been a part of many new project launches not just on the agent side but on the developer side as well. Ultimately the purchasing process boils down to selecting 3-4 top floorplans and submitting a worksheet on a specified date with your selections and well as personal information to the developer. This is followed by a brief period of anxiety during which the developer will sort through piles of worksheets and assign suites to buyers.
Keep in mind however that every developer is different and will conduct their launches in a different fashion. Your focus shouldn’t be picking a Gold or Platinum Realtor, but select a Realtor who knows the inner workings of the pre-construction business and has established relationships with developers. By doing this you and your agent have the best chance of getting the desired allocation and going home satisfied.