In the real estate market, as with any marketplace, knowing the meaning of industry terminology can make all the difference in your decision to buy or sell, and whom you work with in the transaction. Being an uninformed consumer versus one who is aware of the current trends and marketplace lingo can make a significant difference in your choice of realtor and the experience you have with them.
What is a Platinum Agent In Pre-construction Condo?
Platinum Agent – is a real estate terminology for pre-construction condo developments which refers to agents that are the first in line, outside the developer’s family and friends, to get access to the new condominium launch. This title carries weight as it is given to agents that have cultivated a relationship with developers.
The title of platinum agents brings preferential treatmentby developers as those agents:
- Sell a large quantity of units (10 or more units for a particular project). Because of the sustained relationships with the developers, platinum agents are given a certain amount of units to sell at special deals. Prime units are amazing prices are first given to platinum agents.
- Have large market exposure with established client base and can market valuable projects to greater audience.
The Benefits Are:
- Access to the best units with noticeable reduction in prices.
- Because of the relationship with the developers, platinum agents have insider information about the project before that project’s launch.
- Platinum access are given unit allocation.
- Investor incentives – platinum agents are able to offer, not only market knowledge but give insights into developers to get into and which projects are worth investing into. Also presenting the key factors of comparing projects such as proximity to public transportation, the rental market demand, the neighbourhood, and much more.
At the end, working with a platinum agent will make the difference in the experience of purchasing a pre-construction condo. The value platinum agents bring is noticeable with the price point, incentives and the knowledge.