The thoughts of buying a new property can be overwhelming and confusing. Whether you are a first-time buyer, or a seasoned property investor, if you do not prepare yourself correctly the process can become all consuming. You are likely to be confronted with an array of options revolving around location, prices, amenities, not to mention an overload of verbiage and abbreviations that you are most likely not used to hearing on a day-to-day basis. For all these reasons, it is important to make sure you give yourself the best opportunity to find a property that works for you in multiple ways.
Taking this into consideration, when it comes to investing in a new property, there are several reasons as to why it makes the most sense to deal with, and purchase directly from, the property developer themselves.
When dealing directly with the developer, you are buying your property straight from source. As a result, this means you can look to maximise the best possible return, by speaking directly with the company who sets the prices. This can lend itself to easier and quicker negotiations, as you don’t need to go through an additional layer of communication with a third source. When looking to negotiate payment terms and schedules, or bulk deal discounts for example being able to go directly to the person who ultimately signs off on these decisions will invariably save you time.
All the agents that work for a developer are highly trained and knowledgeable about every detail of the available listings across their portfolio. They know their products inside out and will be able to answer each unique question in the most thorough and well-informed manner possible. If you need to know the finer details about your potential property such as on which rooms get the morning sun, how many times a year is the outside of my building cleaned etc… an agent tied to a developer will have these answers to hand. Furthermore, given the ever-changing nature of the property industry, when dealing directly with a developer, you can rest assured that the information provided on pricing, payment plans, and unit availability is the most precise, accurate and up to date information in the market.
Another of the primary benefits of buying a property direct from the developer is that their end goal is they want to ensure the final property you select is right for you. For example, there can be a big difference between looking for a unit that offers great rental returns in an area appealing to a certain demographic (namely young working professionals), compared to a luxury residential area where you are looking to find a perfect home for yourself, or in a family friendly environment. The aim of the process from a developer’s perspective is to get to know you, establish exactly what it is you are looking for and what suits your needs, interests, and personalities. When all these factors are met, they will make sure the property you finally settle on fits all your personal criteria perfectly.
Finally, aligning yourself with an agent directly tied to a specific property developer affords you the best chance to expose yourself to a 360-degree view of your potential new property from both short term and long-term perspectives. It will also present you with unique opportunities to get advanced notice of soon to be released units or upcoming future projects. While many real estate agencies will have access to the latest inventory a developer has available, they will not have full visibility on yet to be released units. When dealing directly with a sales agent in this respect, you may be able to secure an alternative unit based on the fact your sales agent will have in-depth knowledge of any units which may not be listed in public at that point in time.
All in all, successfully purchasing a brand-new property is dependent on a wide range of factors, but staying in control of the process from start to finish is of paramount importance. In order to make sure you save yourself the most time, money, and stress possible throughout the journey it’s always best to consider attaching yourself to an agent representing the development you are keen on purchasing.
Georges joined Select Group as Commercial Director in 2020. He has over 18 years’ experience in destination management and expert knowledge across an array of industries including hospitality, tourism and MICE. He has a deep understanding of the GCC, and the buying behavior of the international visitors to the region.