Commercial Real Estate

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Douglas Todd: Developers often disguise the true market value of a Canadian home

In a stagnant market, there are examples of developers using various techniques to keep buyers in the dark about actual housing sales and prices. Some tactics are seriously manipulative.

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“Eighty per cent of homes already sold!”

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How many times have Canadians seen that kind of marketing of a new residential project?

The developers behind such campaigns aim to create a sense of scarcity. But their claims are often impossible to verify.

“There are a lot of developers who just come out and say their project is 80 per cent sold. But I would say, half the time, with half the developers, it’s actually not true,” says Ross McCredie, president of Sutton Realty, which has........

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