Pre-construction Real Estate in Toronto is a hot topic in the Real Estate market, and for a good reason. In this article, we want to share with you, our fellow Realtors, why pre-con sales should be in your portfolio.

Toronto is known for its eclectic and vibrant culture, as well as its strong economy and diverse job market. With great schools and world-class dining, Toronto is a highly desirable place to live.

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Let's learn a bit about the pre-construction market in Toronto.

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Pre-con: The Untapped Market- But Why?

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Why are so many Realtors passing up the opportunities selling pre-con can provide? We want to explain the untapped market and get you excited about the possibility of selling pre-construction in Toronto.

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Please do me a favor, and ask yourself what has held you back from selling pre-con. What are the reasons you have? Are you aware of the profitability selling pre-con can have? Do the difficulty of finding listings and the lack of a centralized database hold you back?

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What if I told you we have a way to integrate pre-con listings right to your personal website? That's right, we have made it easy.

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Let's learn a bit about the pre-construction market in Toronto.

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What Does The Pre-Construction Market Look Like?

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The demand for housing in Toronto is high, and pre-construction Real Estate is a way for buyers to get in on the action early and secure their dream home before it's built.

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According to statistics, Toronto's pre-construction Real Estate market has been rising in recent years. In 2019, pre-construction sales in the city accounted for almost 50% of all new home sales, up from 37% in 2018. Despite the overall slow in the Toronto Real Estate market, this trend is expected to continue.

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As the population in Toronto remains high and continues to grow, the need for new housing will continue to be vital for the city's economy. It is estimated that the city of Toronto's population will grow to 3.5 million people by 2030; this is a 30% increase compared to today.

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Why Don't More Agents Sell Pre-construction in Toronto?

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There is a stigma associated with selling pre-con, but we are here to debunk some of the reasons and offer you a new way to sell Real Estate.

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Below are three reasons why Realtors don't sell pre-con Real Estate.

1. Very few Realtors have actual good access to pre-cons.
2. Accessing listings can be difficult. Searches are mostly done manually by a brokerage that sells pre-cons.
3. There is no centralized location for listings.

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Keep reading- we have a solution to this!

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Why Realtors Need To Consider Pre-Con Real Estate In Toronto

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• 3-5% Commission
• No split between buyer and seller agents.
• It's a great opportunity for your clients.
• The market is expected to grow as the population increases.
• Less hassle and stress than selling resale.

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There are several reasons why Realtors should be selling pre-construction Real Estate in Toronto. First and foremost, it is a great opportunity to get in on the ground floor of a new development and secure a sale before the property is even built.

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This can be especially lucrative for Realtors as pre-construction properties often sell for a premium price due to the demand for new housing in the city. Did you know Realtor's command, on average, a 4% commission, as there are no splits between buyer and seller agents? I know, that's huge!

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In addition, pre-construction Real Estate allows Realtors to offer their clients a wider range of customization options. Many pre-construction developments offer buyers the opportunity to choose from various floor plans and finishes, allowing them to create their dream home from the ground up.

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With a population projected to reach 4 million by 2040, the demand for new housing will continue to be high, providing Realtors with a steady stream of potential buyers.

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What Is The Process For Realtors Selling Pre-construction Real Estate in Toronto?

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1. Familiarize yourself with the development and the specific units available for sale. Visit the construction site and meet with the developer to understand the project better.
2. Familiarize themselves with the pre-construction process and the terms and conditions of the sale.
3. Review the deposit structure, closing costs, and other fees associated with the sale.
4. Understand timelines and milestones associated with the construction process.
5. Assist clients through pre-construction, from signing the purchase agreement to closing on the unit.
6. Coordinate with the developer or other parties involved.
7. Stay up-to-date on the construction progress and guarantee that the unit is delivered as promised.

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Overall, pre-construction Real Estate in Toronto is a great opportunity for Realtors to secure sales and provide their clients with a wide range of customization options.

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We Made Selling Pre-Con Easy!

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The answer has arrived. With Buildify, you can capture and hone in on the motivated pre-construction market. Finally, there is an API for pre-con listings. You can now easily turn your website into a powerful pre-con Real Estate search engine to attract motivated pre-con prospects.

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Here is how it works.

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Buildify is a centralized database for pre-con listings. Think of it as the MLS for pre-con. Our pre-con API/IDX allows the agent to showcase pre-con listings on your website.

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You no longer need to hire an internal team to collect this data; our technology does it for you. All you do is easily integrate our product on your website, and you will have access to our pre-con portal, which is very similar to the MLS portal.

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Our goal is to make selling pre-con easier for you, the Realtor. And this is just the beginning of what our team at Buildify has to offer!

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