It’s pretty easy to see that Hamilton and the surrounding area are in a pre-construction boom. With so many new condos and townhouse developments, it’s an exciting time to be a buyer. 

One aspect of pre-construction home sales often overlooked or misunderstood is the concept of an assignment sale. What is an assignment sale? How does it work? Why would you need one? These are all questions you might ask yourself as an interested pre-construction buyer or investor. 

Here’s a quick guide to everything you need to know about assignment sales…

How is Pre-Construction Different than Buying Resale?

Before we get into what an assignment sale is, you need to know one of the key differences between buying pre-construction and a re-sale home. For pre-construction, you are essentially buying the idea of a property. Since, in most cases, it hasn’t actually been built yet. 

Most pre-construction condo projects go through a sales phase before even breaking ground on construction. For the purposes of financing, most pre-con projects won’t even start until they are about 80% sold. 

For buyers, this means they need to put down a big investment before seeing their new property. And then on top of that, they often need to wait, sometimes months, before taking possession. 

We’re your local pre-construction experts. Take a look at this case study on how we sold 13 pre-construction condos in 48 hours. 

So, What is an Assignment Sale?

An assignment sale happens when the original purchaser of the pre-construction property sells it before ever taking possession. In this case, the original purchaser is known as the assignor, and the new purchaser is the assignee, and the sale happens before the project actually closes. 

Assignment sales can happen between private sellers or between property management firms and private buyers. Either way, if someone purchases a pre-construction building, and then sells it before title closes and changes hands from the builder to another party, it constitutes an assignment sale. 

Hamilton and the surrounding area are continuing to expand! Check out some of our neighbourhood blogs here to find out what you can expect from the local communities;

• What to Expect When Buying a Home in Waterdown
• Our Complete Guide to Central Hamilton
• 5 Things You Need to Know About Hamilton Real Estate

Why Are Assignment Sales Beneficial? 

You might ask yourself, “why would someone buy a pre-con condo if they never intended to see the transaction through to the end?” And that would be a valid question. On the surface, it seems kind of backward. But when you really consider the benefits for both assignors and assignees, it starts to make more sense. 

For the Assignor

In many cases, developers offer exclusive deals and offers to entice buyers to act early on a pre-con project. This could come in the form of special financing or free upgrades. From there, the value of the property only continues to go up as it’s built. So for assignors, if they have the capital, they can often get in early on a pre-construction project and then sell it for a profit. 

Assignment sales are also helpful in case the assignor’s life situation changes between the time they register and invest in a pre-con condo and the time they are supposed to take possession. For example, perhaps they get a new job or have a life change that requires them to move somewhere different. Or maybe they are a real estate investor who has changed their mind and would prefer to sell rather than rent. 

There are often months in between investing in a pre-construction project and moving in. Life can change, so it’s nice to know you have the assignment sale option in your back pocket. 

However, there can be HST implications with an assignment sale, and it is always best to discuss with an accountant prior to making the decision to assign a property/

On the fence about whether condo life is right for you? Check out our blog about Upsizing 101: 5 Tips for Moving From a Condo to a House here.

For the Assignee

Assignors aren’t the only ones who can profit. Assignees can also maximize the benefit in these situations. Investing in a pre-construction condo or townhouse has certain risks involved. What if the project doesn’t receive full financing? What if there are unexpected setbacks and it takes even longer to build? The original purchaser of the condo is the one assuming all the risk here. 

As an assignee, you would get more peace of mind purchasing a condo closer to the closing date since the project will probably be on more solid ground by that point. Although you will probably pay a little more than the original purchaser, your transaction comes with fewer risks. 

The Best Way to Navigate an Assignment Sale

When it comes to successfully navigating an assignment sale transaction, your best course of action is to work with a real estate professional who is experienced and familiar with pre-construction projects and assignment sales. 

As an assignor and an assignee, you want to ensure your best interests are protected and your investment is sound. An experienced professional can advise you on whether or not an assignment sale is an advantageous investment or if you’re better off looking elsewhere. 

Ready to make a move in real estate? Here are some resources to help get you started:

• What are Buyer Representation Agreements and Listing Agreements?
• Why You Should Work with a Local Agent
• How Seller’s Can Make the Most Out of a Hot Market
• 7 Real Estate Terms Seller’s Often Misunderstand

Interested in learning more about buying and selling pre-construction? Contact us today here to learn more. 

There are numerous brands that are synonymous with selling real estate. You can probably name at least five of them right off the top of your head. When you drive around town, you see the signs, and you immediately associate those brands with the real estate industry. 

But when it comes to selling your home or finding a new house to buy, does the brand really mean anything? Sure, many real estate brands come with years of pedigree, experience and a certain amount of prestige, but when it comes to working with individuals, does the brand actually hold any weight at all? 

Let’s take a closer look…

The Benefit of Working with a Big Brand

Essentially, it all comes down to trust. The big brands got where they are based on years of experience and hard work. The business model works and as a result, they have established themselves as a trustworthy name in the industry. People like working with names they recognize because they know what to expect. 

At a more granular level though, what exactly do the big brands offer that smaller brands do not? 

Real Estate is Actually All About People

The big brands would not be where they are today without the hard work and dedication of their agents. Real estate is a people-driven industry. At its heart, it’s a service industry, and the fact is that “brands” are not the ones creating lasting relationships and going above and beyond to make sure you can achieve your real estate goals. That’s up to the individual agents. 

When you choose to work with a real estate agent, you are hiring a person with experience, ideas and feelings. You get a connection with someone who has the ability to advocate for you during one of the most important financial decisions of your life. It’s about the individual, not the brand. 

Big Brands are Essentially Franchises

Bigger brands only make money when they have a lot of agents under their banner. In most cases, agents pay a fee for the use of the brand as well as resources like office space, advertising, marketing and more. 

As a homeowner, there isn’t a huge difference between working with a big brand and an individual agent or a smaller team. On the surface, the only difference is really the logo that appears on your lawn sign. 

Brands Don’t Do the Work–People Do

Even if an agent is associated with a big, well-known brand, this is not a magic tool that will somehow make your real estate transaction more successful. The real benefit comes from the agent’s personal knowledge, marketing ability, negotiation skills, organization and more. It’s less about what the brand does, and more about what the individual agent is doing. To be perfectly frank, there are good and not-so-good agents everywhere–even within the big brands. 

For small and big real estate companies alike, the business model remains pretty similar. Real estate is a highly regulated industry, so the real difference comes from the individuals you choose to work with, not the brands. 

If you’re planning to buy or sell in Hamilton or Waterdown, it’s important to choose a local agent to represent your best interests. Check out our blog on why you should work with a local agent here.

The Internet Changed Things

Today, most buyers start their search online, which has opened up an entirely new world for agents to promote their listings. Gone are the days when only highly established, big brands could afford to advertise their listings and get exposure. Today, smaller brands are doing more with fewer resources, and have the ability to promote and sell real estate at the same level as the big guys.

Reasons to Work with a Smaller Brand

As a homeowner, working with a small brand has definite benefits. Remember how we said that real estate was all about making lasting relationships? When you work with a smaller brand, you can really get to know the team, and vice versa. With a smaller team, you’re more likely to receive VIP service since the team is working together with fewer clients. Unlike the big brands that might have hundreds or even thousands of agents on their roster, you won’t just be a number. 

For agents, the benefits of joining a smaller team rather than a big brand are also pretty significant. As previously mentioned, big brands often charge big fees for the ability to associate with the name. Instead of investing a ton of money into costs toward the franchise, smaller teams can spend wisely on more important resources and reinvest money into things that will provide value like more administrative support and marketing. They can also provide more hands-on mentoring and services to help the agents excel. 

Interested in a career in real estate? Here are a few resources to get started:

• Blog: Joining a Real Estate Team: What to Know
• Join the Team!

At the end of the day, a real estate brand has two groups of clients: homeowners and agents. It’s the job of the real estate brand to service both these groups and ensure each group is supported and provided with the tools to succeed. 

Ready to make a move? Reach out to us today here for any of your real estate questions. We’re always happy to connect!

With a humble population of about 20,000 permanent residents, you might’ve been forgiven for previously thinking that the community of Waterdown was just a sleepy little town somewhere in Ontario.

However, considering the rapid acceleration of key metrics in areas like population growth, urban development, and the demand for homes currently happening in Waterdown, this charming community is well and truly shaking its old reputation.

And, seeing as an increasing number of new residents join the community each year, we’re frequently quizzed about the local housing market.

Here’s what you can expect when buying a home in Waterdown.

The Architecture

The community of Waterdown as we know it today is still somewhat budding, so you won’t find too many century or heritage homes on the market here. Instead, you’ll find lots of bright and airy contemporary new-build homes featuring large open floor plans and modern amenities.

Depending on which neighbourhood you’re looking to buy in, there is some disparity between architectural styles, though essentially every home available on the market today will have been built within the last 20 years or so. That being said, there constantly seems to be new homes popping up across Waterdown with plans for future residential developments always in the works.

Although Waterdown’s architecture might not have the same history or character as some of the community’s neighbouring cities, one major positive is that these clean and updated newly-built homes rarely require any sort of major renovations or updates to make them move-in ready.

In fact, if you’re planning on investing in a pre-construction or new development, you’ll probably have the luxury of being able to choose your very own finishes as well!

Want to get a better idea of what Waterdown’s housing market looks like? Check out our collection of Waterdown’s latest ​​Featured Listings here!

The Lot Sizes

Just like the homes here in Waterdown, many lots they’re positioned on are equally as grand and expansive. Due to the community’s relatively rural surroundings, new urban and suburban residential developers have essentially had free reign to take advantage of Waterdown’s generous amount of surrounding space to further expand the area’s footprint.

Fortunately for new residents, this means that almost all of Waterdown’s homes have been built on lots as large as their developers wish. Whatever your price range or square footage requirements, if you’re buying a standalone or detached home here, you can expect to have plenty of room to live and practise your favourite hobbies.

Additionally, if you’re arriving in Waterdown from much more cramped metropolitan centres nearby, you’ll find even the most modest of lot sizes here are much larger than the tight footprints you’ll have come to accept in cities like Toronto.

Looking for that perfect new community to set roots in? Whether you’re searching for a new home for you and your family or you’re moving on your own, Waterdown is an ideal place for you to be. Use these helpful links to get a better sense of what you should be looking for in a new home here:

• What Not To Compromise On When Buying A Home
• 5 Things To Look For In A Family Home

The Amenities

When it comes to household amenities, the vast majority of Waterdown’s new-build contemporary homes don’t fall short in any department.

You can expect all of the luxuries of modern living in essentially all of the residences in Waterdown, including things like heated driveways, smart tech home systems, spa-like bathrooms and chef’s kitchens featuring updated appliances and large islands.

Outside of your house, you’ll always be just a quick jaunt away from Waterdown’s ever-expanding list of nearby amenities within the community. Things like movie theatres, supermarkets, big-box stores and both franchised and locally-owned restaurants and cafes are very easy to find in Waterdown’s main commercial areas.

Over the course of any real estate transaction, the benefits of working with a local agent can make enormous bottom-line differences. Learn more about Why You Should Work With A Local Agent here.

Whatever you’re in need of, you’ll be sure to find it in Waterdown. However, if there’s anything you can’t find here yet, a quick trip into two of Ontario’s fastest-growing cities in Hamilton and Burlington are just minutes away. Or, if it’s more of a high-street boutique shopping experience you’re looking for, Waterdown is always just under an hour’s drive away from downtown Toronto.

Get more in-depth information about the long list of amenities Waterdown has to offer by reading some more of our detailed community-focused content here:

• Waterdown Neighbourhood Guide
• Waterdown’s Restaurant Scene: 5 Eateries You Have To Try

The Cost

One of the best aspects of buying a property or investing in Waterdown’s real estate market is that the value for money found in the community is next to unbeatable across the province.

While you’ll still find that Waterdown’s most spacious and recently updated detached single-family homes are listed within the upper echelons of the price bracket (think: seven figures and above), there are a plethora of homes available here for every budget. The best part is, the value of Waterdown’s homes will also continue to rise as the community expands over time.

As Waterdown’s real estate market is constantly adapting to the growing needs of its expanding population, those who already own real estate here are experiencing huge increases in the market value of their properties. So, whatever you pay for a new home now, you can feel safe about the long-term investment value of your property.

Does the idea of investing in a smaller, rapidly expanding community like Waterdown make perfect sense for your portfolio? Learn more about how we help investors with our local market insight by learning about how to Become A Real Estate Investor with us here.

Want to learn more about what it means to work with us? Learn more about our approach to helping clients purchase a home by clicking on our handy buyer-related links here:

• Our Buying Advantage
• Our Home Buying Calculator

Milton is quickly becoming a hot spot for condo investors. However, the pre-construction market is competitive and fast-paced, so real estate developers need to ensure they’re working with the right team to help sell out developments. 

At Woolcott Real Estate, we recently experienced first-hand what working with a developer on a tight deadline is like. Applying our efficient, assertive approach to the pre-construction world helped yield exceptional results for everyone involved. 

Here’s a closer look at what happened. 

The Challenge

A local developer was looking to grow their broker portfolio. As one of the top teams in the area, we were selected as one of three groups to meet with them. On a Wednesday, we attended the initial meeting and were assigned 13 one-bedroom and bachelor units to sell. 

Official sales would begin on Friday. 

The Process

With 48 hours to develop all of the assets and prepare our sales team to go live, we had to work fast. First, we separated the work into two streams: marketing and selling. Although we had to move swiftly, it was crucial that we start with an organized plan of action. Implementing a workback schedule, we tracked all the key deliverables and managed the extremely tight deadline.  

Then, our team got to work producing landing pages, social media ads, emails and more. These assets were important to support our sales team and capture the attention of the highest number of qualified buyers possible. 

A ‘New Sales Toolkit’ was also developed to support the sales team. With key information, scripts, and email templates, we ensured our team had the most accurate information to pass to clients. 

The ‘New Sales Toolkit’ is a resource we use as a foundation for all future pre-construction projects to help train sales agents on the best way to work in this specific market. 

The Results 

The effort paid off. Using a multi-channel approach including digital and email strategies, we achieved our target. Within 48 hours, we sold all 13 units assigned to our team. In fact, we even went above expectations and sold two additional two-bedroom units–traditionally more difficult to do than one-bedroom units.

As a result, we generated ~400 leads through our digital and email marketing efforts, resulting in 15 total sales.

In the pre-construction world, it’s important that buyers and investors alike are educated. Read our Pre-Construction FAQ blog here to see how we keep clients well-informed on the ins and outs of the pre-construction market.

Why It Worked

Working with a full team of marketing and sales professionals in-house was essential to our success. Unlike smaller teams that need to rely on marketing partners to produce assets, we do everything ourselves, which means we can execute ideas quickly and efficiently.

Our email database contains over 19,000 subscribers, giving us unprecedented access to a huge network of qualified buyers.

Additionally, we have a large team of 13 sales professionals. With so many boots on the ground, we cast a wider net and ensure faster response times and follow-ups than other teams. 

By creating a scalable and repeatable foundation for project management, combined with intense training and the efficient production of quality marketing assets, we were able to help the builder achieve their goals and sell out the project in excellent time. 

Are you a developer interested in working with Woolcott Real Estate on your next project? Reach out to us today and let us show you how we can replicate these incredible results. 

Located just west of Hamilton’s bubbly downtown core, the exciting Hamilton neighbourhood of Strathcona contains a great mix of residential, commercial, and recreational areas. Strathcona is a Hamilton neighbourhood that has everything a buyer would be looking for in a new community.

If you’re considering relocating to this fantastic up-and-coming neighbourhood, here are five things you should know before moving to Strathcona.

1) It’s Full Of History

The history of this little Hamilton neighbourhood actually dates back about as far as the city itself! When the City of Hamilton was first founded by George Hamilton around 1815, he was standing not far from what would become the neighbourhood of Strathcona.

Since then, many historical events and monuments have been established here, perhaps most notably the Dundurn Castle. This iconic Strathcona landmark was originally built between 1832 and 1835 for Canadian political leader Sir Allan Napier MacNab.

Additionally, there are many more historical landmarks such as the magnificent Tuckett Mansion (also known as the Scottish Rite Masonic Temple) and the Cathedral Basilica of Christ the King.

2) The Homes Are Beautiful (And Affordable)

When it comes to Strathcona’s local architecture, the rich history is reflected in more than just the castles and cathedrals. The homes within Strathcona are also quite spectacular—and one of the best parts is their price.

Buying an original detached Victorian or Edwardian century home in any other part of the GTA–or even other parts of Hamilton–would cost quite a steep price. However, heritage homes within Strathcona are still comparatively affordable (i.e., within the sub $700,000 range on the higher end).

If you’re looking for a great home at a fantastic value, Strathcona is a Hamilton neighbourhood very worthy of investigating.

3) The Neighbours Are Great

Although the homes are stunning, you might worry about dealing with the neighbours. This is not an issue in Strathcona.

At the moment, Strathcona is actually going through somewhat of a transition. For the most part, most of the homeowners in Strathcona are elderly empty-nesters who have lived in the area for most of their lives. However, as they’ve recently begun to downsize and move out of the area, their homes have been primarily bought up by young couples and families.

In terms of community development and growth, there’s almost nothing better for a neighbourhood from a long-term real estate value perspective than to have young families start to move in.

4) The Amenities Are Amazing

Between the eye-catching views of the Hamilton Harbour to the charming shops and boutiques along King Street, there’s a lot Strathcona already has to offer in terms of local amenities.

One of the best parts about living in Strathcona is the number of public parks and green spaces within such close proximity. There’s the neighbourhood-favourite Victoria Park, which is currently undergoing improvements by the City of Hamilton, along with the massive Dundurn Park and Kay Drage Park.

Additionally, the Hamilton Cemetery is also a lovely large green space that makes for great walks in the warmer months.

5) Getting Around Is A Breeze

One of the most appealing features of this Hamilton neighbourhood is how easy it is for transportation. On foot, Strathcona is very easily walkable, especially considering it’s right beside the city’s downtown core.

If you need to get somewhere a little quicker, the Hamilton Street Railway (HSR) transit system has bus routes that regularly service the Strathcona area.

Or, if you’re more of a motorist, many major Hamilton roads and highways (including Highway 403) pass right through Strathcona. Whether you need to get to another end of Hamilton or the GTA, commuting by car from Strathcona is effortless.

Are you ready to take the next step towards your move to Strathcona? Start your new home search with a local real estate team that knows the neighbourhood like the backs of our hands. To let us know what your dream Hamilton home looks like, contact us here.

As the economy slowly reopens, COVID-19 continues to affect our lives. Its impacts are largely felt among society’s most vulnerable, including seniors, families grappling with poverty, and those at risk of domestic violence. We need to find ways of helping these residents in every community, and Burlington is no exception.

Fortunately, there are steps we can all take to provide support. Donating to the right charitable organizations is one of them. With this small act of kindness, you can make a real difference in the lives of your community members!

Here are a few places to make donations in Burlington during the pandemic…

Household Goods

Many charities that typically accept gently-used clothing, furniture, and other household items stopped doing so when the coronavirus became a concern. Fortunately, that’s starting to change.

Habitat for Humanity’s Burlington ReStore location is taking donations, including (but not limited to) apparel and accessories, toys, and electronics. The drop-off location at 1800 Appleby Line is open from 10 a.m. to 5 p.m. daily. Not only that, but the pick-up program has also resumed. You can set up an appointment here.

Food Donations

At a time when many Ontarians are dealing with income loss, food shortages are a concern. Since we’re all being asked to stay home more often, those who are most isolated (including many seniors and people with disabilities) also have less access to groceries.

Local charities that collect and distribute food offer relief for those most in need. The Burlington Food Bank is a great example. You can drop off items at 1254 Plains Rd E, or use the donation bins found in grocery stores and fire stations around the city.

The Aldershot Food Collection Committee also makes donating easy. Every Monday to Wednesday, drive-through and drop-off donations are accepted at St. Matthew’s Church. Head over from noon to 3 p.m. to contribute, and your items will be distributed to the Burlington Food Bank and the Compassion Society.

Last but not least, the Salvation Army is taking food donations at 5040 Mainway. You can bring your non-perishable items to the back door from Monday to Friday, 7:30 a.m. to 12 p.m.

Monetary Contributions

One of the best ways to give back during the pandemic is by making monetary donations to places that offer support. By providing grants to front-line charities, the Burlington Community Foundation fits the bill. You can learn more about what the organization is doing—and how to donate—here.

Food4Kids and Bag Half Full are both tackling hunger in the community, and every dollar they receive online can help. While the former is currently committed to ensuring that kids are well fed while schools are closed, the latter is dedicated to providing grocery delivery for those who need it.

Halton Women’s Place is a non-profit that assists women who have experienced domestic abuse and their dependent children. From shelter to phone support and outreach, the services this organization provides are critical. With the right precautions, Halton Women’s Place is still operating—and you can help by making a donation.

Last but certainly not least, Joseph Brant Hospital Foundation is helping front-line healthcare workers during the pandemic. If you make an online contribution, you’ll be providing support for hospital staff who are caring for those affected by the virus in your community.

Making a Difference

It’s easy to feel powerless in the face of a global challenge like the coronavirus. The good news is, there are ways to support those who need it most right in your own backyard.

From gently-used clothing to canned goods to even a modest monetary contribution, you can feel good about providing a donation in Burlington. The difference you make may be bigger than you know!

Have questions about real estate in the era of social distancing? Get in touch—we can help you understand the market, and what it means for your purchase or sale.