Maple Leaf Square - Unsung Heroes

THE UNSUNG HEROES OF THE NIGHT AT THE PRIORITY BROKER’S EVENT FOR MAPLE LEAF SQUARE TRULY WERE THE BUYERS

November 18, 2005

The developers of the much heralded Maple Leaf Square, a two tower development being developed by Lanterra Developments understand the critical roll that a handful of the city’s top Realtors play in the overall success of all of their developments to date.

Like most quality developers, they hold a special Priority Broker’s Private Pre-launch party to enable our client the opportunity of unfettered selection. This may not sound like much, but anyone in attendance last night would tell you that the hope of getting a truly good suite is made or lost with early access.

Again, all of those in attendance yesterday were a select number of 50 or so of the industry’s top producers and their clients. Obviously, this is the best time to buy and I am usually invited to all premier events so if you haven’t Registered with me I would recommend you Register with me now so I’ll have you in the database before the next development comes along.

For those of you in attendance yesterday, you certainly have my respect for the patience you demonstrated amidst a chaotic and somewhat overwhelming environment. To those of you who wanted to attend and couldn’t, know that a very large portion of the residences (and what nice residences they are) were snatched up yesterday!

There will still be an opportunity for many of those who could not or simply did not attend to find and buy some excellent suites over the next 10 days as a result of 2 or even possibly 3 areas:

1. They didn’t sell out ALL of the suites so a respectable inventory remains. Buying was a literal frenzy! Remaining inventory will be clear later today, and I’ll be talking with the site management immediately to get an update on what’s available so if you are interested please contact me again right away and I’ll make sure that you get in!

2. In Ontario we have a 10 Day Rescission Period which means that for any reason a purchaser can cancel the purchase agreement for any/no reason simply by notifying the Seller/Developer of their intention to “rescind”. These suites will start filtering back in and I’ll be right there keeping up with the inventory as it replenishes.

3. Deals or perceived deals got lost in the shuffle amidst the chaotic “feeding frenzy”. If you saw the massive number of

deals being written you would understand that there would have to be some resulting “fall off” or lost suites. I should know about this potential pool of suite by Saturday at the latest so contact me today if you are interested in this quality downtown location, development and opportunity.

Some client yesterday became offended and chose to walk out and I respect their decision and feelings. Some of this group expressed hostility toward the developer, others toward the developer’s agent handling sales and one even vented on me. I certainly empathize with the frustration and cannot say that you are whole heartedly wrong. The frustration however, really does emulate from any of the three above.

This is a sound developer with a track record and the developer’s agent dates back in this industry to the early 1980’s. He was a sales guy then and I was the guy next door. His site was Harbour Square and mine the Queen’s Quay Residences. Funny how we’ve both been kicking around all these years in this narrow niche market within the field of real estate.

The reality on the day is that the market speaks and it speaks clearly! The demand for this product actually created the pandemonium! Who would have expected hundreds of deals being written from such a narrow and select group of industry insiders accompanied by their clients. What do you think is going to happen when they open the doors to the public and the 19,000 other Realtors in the GTA?

I guess, in the truest sense my frustrated client who chastised me personally for dragging him into such a three ring circus (his words not mine) was right as I am the guy who took him from the relative comforts of where he was thinking of investing in a small investment unit in the core to actually facing they onslaught of a multitude of motivated and hungry buyers with a Capital “B”!

In my own defense, I would say that as a professional Realtor this is what it takes for me to fulfill my obligations to my clients to protect their best interests in the condo buying experience. The dozen or so clients that did buy yesterday each thanked me for getting them there. They seemed to understand that I did not regulate anything there. I really am just a conduit that links them to the better opportunities out there and I went to lengths to forward everyone that this experience could end up a “zoo”.

Awards I have absolutely no hesitation saying that this development is a WINNER! Timing in buying a condo is critical so if you are thinking of investing in downtown Toronto real estate (under a million you are somewhat limited to condos, lofts and stacked townhouses). Contact Me.