Posts Tagged ‘buying a new build condo without a realtor’

Many buyers walk into a developer’s sales centre and ask the same question: can I buy a new build condo without a realtor? The short answer is yes. In most cases, developers allow buyers to purchase directly without representation. However, deciding to buy a new build condo without a realtor is a strategic choice that comes with trade-offs. While some buyers believe skipping representation might save money, the reality of new construction purchases in British Columbia is more nuanced. Understanding how developers structure sales, incentives, and pricing can help buyers make a confident decision before signing a contract. How New Construction Condos Are Typically Sold New build and presale condos are usually sold directly through a developer’s sales team. These teams operate out of presentation centres and are responsible for selling units in the building. The typical process looks like this: Buyers visit a sales centre or register online The developer presents floor plans, pricing, and incentives Buyers select a unit and sign a purchase agreement Deposits are paid according to the developer’s schedule Construction proceeds until completion Because developers control the entire sales process, buyers often assume representation is unnecessary. However, the developer’s sales team represents the developer’s interests, not the buyer’s. Why Some Buyers Choose to Purchase Unrepresented There are several reasons buyers sometimes decide to buy a new build condo without a realtor. 1. They Already Found the Property Many buyers discover presale developments through marketing, social media, or word of mouth. By the time they visit the sales centre, they may already know which building they want. 2. They Believe It Will Save Money Some buyers assume that if a realtor is not involved, the developer will reduce the price or provide a discount. In most cases, this is not how developer pricing works. Developers typically set pricing across the entire project regardless of representation. 3. They Want a Simpler Process Developers design sales centres to make the buying process straightforward. For experienced buyers or investors, dealing directly with the developer can feel efficient. That said, simplicity does not always mean fewer risks. What Buyers Should Understand Before Buying Unrepresented New construction purchases are different from resale homes. The contracts, timelines, and financial considerations can be significantly more complex. Here are a few important considerations. Developer Contracts Are Written for the Developer Presale purchase agreements are typically long and detailed. They outline construction timelines, potential delays, deposit structures, assignment rules, and completion adjustments. Having someone review these terms can help buyers understand what they are committing to. Pricing Is Usually the Same In most presale projects, the developer has already built marketing and commission costs into the project budget. Whether a buyer has representation or not, the price of the unit usually remains the same. In other words, buying without a realtor rarely creates a price advantage. Incentives and Unit Selection Can Vary Realtors who regularly work with new construction developments often have early information about: New project launches VIP or priority unit access Incentive programs Assignment policies For buyers trying to secure the best floor plan or price tier, timing and information can make a difference. Risks Buyers Should Be Aware Of Buying a new build condo without a realtor is legal and common, but it does shift more responsibility onto the buyer. Some of the risks include: Misunderstanding construction timelines Limited negotiation on upgrades or incentives Uncertainty around resale or assignment rules Overlooking strata or development details Presale purchases can also take several years to complete, which introduces market and financing variables that buyers need to plan for. The Value of Independent Advice In British Columbia, the real estate transaction process includes regulatory protections designed to help buyers make informed decisions. For example, the Home Buyer Rescission Period allows buyers to rescind an accepted offer within three business days, subject to a fee. Elevating Faber Real Estate Gro… Even with these protections, buyers still benefit from understanding the structure of a presale purchase before committing. Independent advice can help clarify: Whether the building suits your long-term goals How deposit schedules work What resale or rental rules may apply What happens if construction timelines change These questions are often easier to evaluate with someone who works with developments regularly. When Buying Without a Realtor Might Make Sense In some situations, purchasing unrepresented can work well. For example: An experienced investor familiar with presale contracts A buyer who has purchased from the same developer before Someone working closely with a real estate lawyer from the start Even in these situations, buyers typically ensure they have professional advice before finalizing the purchase. Final Thoughts Buying a new build condo without a realtor is possible, but it should be a deliberate decision rather than an assumption. Presale contracts, timelines, and developer policies can vary widely between projects, and understanding the details upfront can prevent surprises later. If you are considering a new construction or presale condo in Greater Victoria, Faber Real Estate Group can help you understand the process, review the opportunities, and decide whether buying directly from a developer is the right move for you.   Noel A., 5-Star Review, via Google “My partner and I had a great experience with Scott and the Fabers with our first home purchase. Scott answered all questions we had and helped guide us to make the right purchase that fit our lifestyle. Would highly recommend the Fabers!” Faber Real Estate Group Royal LePage Coast Capital Realty 📞 250-244-3430 📧[email protected] ℹ️ Scott Faber Personal Real Estate Corporation ℹ️ Cal Faber Personal Real Estate Corporation Vanessa Wood, Zachary Parsons, and Sophie Taylor “Building Lasting Relationships, One Home at a Time.”