By: Deanna Caden
Thanks to Canada's conservative bank polices, developers cannot receive construction loans until 70% to 80% of units are already spoken for with deposities. The industry lives and dies on pre-construction sales. Until now, condominiums in Toronto have been marketed like cars or cigarettes, full of glitz and glamour.
Thanks to the power of social media, some of the control is being brought back into the public’s hands. Meet the new generation of web-savvy marketers, entrepreneurs and real estate agents who are cutting through the hype and reshaping the way condominiums are sold in Toronto. They are working on giving the public more of a say in how condos are designed, developed and marketed, and helping average buyers access the premium pricing reserved for so-called VIPs months before anyone else can even look at a floor plan.
35-year-old Robert Galletta, the head of Blackjet (Ad Firm) is trying to redefine how real esate is sold in this city. In a blog post of the company's website last spring, Galletta told real estate marketers that the "jig is up", because their methods had become "white noise" and even realsed a viral video mocking the current process, catching the attention of developers.
For Blackject and many other's in the industry, social media is an opportunity to given potential buyers a real sense of ownership in a project.