Going back 15 years we had what was called the Sneak Peak, followed by the Preview, than the Grand Opening. Developers, later had several Grand Openings each with slightly different names. After the year 2000 investors became wise to the hype and so was born the VIP. Back then in order for an agent to become a VIP they had to demonstrate the ability to sell several properties at regular pricing before they could be an honorary VIP Agent. In some cases the developer would have you or your agent pay $500 or more as a deposit to gain this recognition thinking that this would add value to the opportunity.

They even had agents line up for a day or two and in some cases I witnessed up to 2 weeks for the opportunity to purchase up to 2 units. The VIP agent would do several things make this wait bearable including hiring street beggars and students to hold their position. Then came the list. A group of agents would start their own list and would agree to meet once every day or two to update the list not allowing any other groups to take their place. Last year this was a problem with the infamous X2 line up at the Intercontinental whereby the group would only meet every 4-5 days and check the list which was left on the bench and allowed others to join by just adding their name.

Three separate line-ups were set up, one was excepted by the developer, the other by the marketing company and the third unrecognized. Unbeknown to all was that the plan was to make everyone feel that they were the true VIP Agent by having separate events and getting much news coverage, this I believe to be the pinnacle of hype in condominium sales for Toronto, which was announced that day 100% sell off. Unbeknown to all was that after they realized less than 30% of the sales were actual sales they lowered their price and another event was introduced. Later, investors would again become wise to the hype. The VVIP was introduced, this was just a lazy acronym used to describe Very Very Important People, but short lived in that it was not well thought out.

So where does this leave us now? To become a VIP agent you basically need to have a valid real estate licence, even this can be negotiated!
Everyone is now invited to be a VIP at every opening and therefore every potential customer has now been promoted to VIP Status. This sounds great but where does it leave us. If 60%+ of the entire project of units have purchased at VIP or for example $550 per sqft this only means that the majority of the competition of buyers have paid the same as you. The Developer immediately increases the price to hold as many of the clients through the 10 day rescission period. Once they have sold enough units to obtain financing to commence the building process they are satisfied with selling only a few units per month, but as the time passes they realize that they need more sales and many of them will do something to make purchasing more attractive, an example would be to raise the price from $300,000 to $340,000 to make the first buyers happy. Later they would throw in a free parking (valued at $40,000) but would not dare reduce the price? Investors again have seen through this.

So, how do I put the “I” back into “VIP”

Well I could tell you this now but then you would not call me would you. My esteemed colleagues would do the old cut and paste routine and my system would soon be no longer unique.

As an agent of 23 years 15 of those years working directly with developers I would ask that you give me more credit than this. My clientèle are just that clients not customers. I specialize in portfolio management for repeat and referral clients only. I provide a unique service that not only satisfies the need to be recognized as a VIP Client in getting the lowest and best deals but also the after sales service and management of the portfolios. The property must be unique, it must demonstrate the ability to hold its own and with so many developments out there I must find the property that has the opportunity for growth based on the neighborhood, the future area developments, the infrastructure etc. In many cases I research government funding on the neighboring areas, federal, provincial and municipal that would drive the price up.

I look for the demand in the area and the potential demand for future projects using tools such as urbanization reports and public documents available at the registry office. I interview developers and their agents to find out if they are building suitable amenities and using styles that integrate with the area and the demands of the end user. For this I owe to my clientele. Not just the best advertisement money can buy, I roll up my sleeves and dig deep. I only sell what I would buy myself.
I’ve always said their are only two types of agents, “short term” and “long term”. Short term are only as good as their last sale, Long Term Agents will be there years to come in good times and in bad,for richer for poorer, in sickness and in health, to love and to cherish, ’til death do us part, and thereto I pledge you my faith to you. Like a good marriage my contract is my word.

For an appointment to meet and discuss if my VIP Clientele status is of value to you and me, return this email or call me direct at 416 712 7908.