There’s a developer that’s planning to build a condo at the end of your block. You’re looking to move into a bigger place and you wonder, is it necessary to have a real estate agent present when you looking to purchase/purchasing a presale condo?

We’re going to advise that it is not necessary to go with a real estate agent. When a real estate agent oversees a pre-sale condo purchase, they automatically get a commission, even if they have not done any consultation or research. All they have to do is bring you to the presentation centre. On the flipside, real estate agents are not that interested in pre-sale condos either since they don’t get paid until the building is completed, which can be several years away as they get paid on closing.

Residencity believes that you should purchase directly from developers when looking to buy a pre-construction condo. It is important to see past the promotions and other distractions that may be present at the presentation centre and really analyze the contracts and details that are presented to you. If you are unsure with your purchase, it is worth noting that a pre-sale contract can also be cancelled within 7 days of signing.