(post by Dee)

1. They are obnoxious stuck-ups.
Yes, many of the more luxurious developments seem to be sold by the most stand-offish, fake, salespeople who measure you up and down when you walk in, ask you about your price range before saying “hello” and dismiss you the second they sense you may not be “serious” or “qualified” to buy their apartments. Make sure to dress the part and lie about your ability to afford anything is you want to get any face time with these stuck-up who are as warm and sincere as a cold-water fish (easily told by their dead-fish-handshake). The more exclusive the marketing firm, the more plastic they get. Ugh!
Example: I ran into folks who had purchased a luxury 1BR loft condo by Toll Brothers pre-construction 1 year ago, and came by the sales office to see how the construction progress was going. When they asked if the sales person could take them to see their unit, knowing that the building was almost done, they were told that only new prospective buyers for the remaining 15 units would be taken on a “construction tour” and the brokers (three of them in the office!) had not time to take them on the floor where their unit was. Can you believe this crap? Those folks were furious – they were waiting to close on a property and the brokers had no time for them!

2. They lie about the availability.
9 out of 10 times the availability or “released” list is not what is available. Not only do they magically come back with more floor plans and prices, after “let me see what I can find out for you” (the moment they sense you are a serious buyer and what’s on the current sheet won’t for you), but available units and “absolutely last one in this line” change every week. Maybe it’s what the sponsor wants, or what works for them – but it is annoying as hell to a buyer and makes them look like poker bluffers. Don’t believe them. Ask straight up and demand the real truth before you buy something based on “current” availability. Remember, their loyalty is to the developer/seller, not to you. Their advice is as good as their ethics, which isn’t much to hang your hard-earned money on.

3. They put down other developments.
Don’t ever mention that you have seen competing developments or properties…. You will surely get harsh criticism and shameless putting down of other projects, especially if they are in the same neighborhood. They will tell you about the cheap finish, inferior location, bad pricing, poor reputation of the other sales team or developer, etc. Rarely will you hear anything objective or nice about other places you are considering.

4. They always seem to come from other areas and know little about living in the place they sell… this seems to be most true of the new developments in Brooklyn, Queens and Uptown. 90% of brokers come from Manhattan or elsewhere and only repeat what their cool Flash website and glossy brochures say about the neighborhood. It’s like if you read those materials, you need not speak to anyone in the office any more. Just step outside and ask the locals. Too often a sales office person will tell you “I don’t know, I took a cab, if you ask them about public transportation”. Come on, at least do some research and make an effort.

5. They mislead about value of pre-construction.
This one is tricky… Technically, pre-construction is supposed to be a better deal and by the time the last block of units is released, the people who had purchased the first few units got them at the lower per sq ft price and better value than the last few. But in this market, or in any market for that matter, the real market price or value is not determined solely on this one project’s prices. New developments go up all the time, and resales occur all the time. At times, “these prices won’t last” means that they are going to rise THEIR pricing. It has nothing to do with what you can get elsewhere. Real estate is not apples to apples… the location, the quality of finish, uniqueness of the design and layouts, floors, views, starchitect appeal, proximity to transportation, outdoor space, amenities and common charges ALL play a big role. They want you to think that their building IS the market but that is FAR from reality. You should not care about what they will do with their pricing in the next round. Compare across the board or you’ll be stuck with a condo you got at “early pre-construction pricing” and “our most popular layout, first to sell out” that is totally overpriced and has less appeal than several other apartments in the area.