Real Estate

Misleading Ads for new Developments

  • Last Updated:
  • Jun 26th, 2018 3:13 pm
[OP]
Deal Fanatic
User avatar
Sep 23, 2009
5905 posts
3452 upvotes

Misleading Ads for new Developments

First of all, I understand that the market is always changing.

But, I have come across a few new properties within the GTA that publicly advertise one thing ... but upon further inspection it is not the case.

To clarify, I am referring to price.

A development that I was interested in stated that condo units were starting from the mid-200's ... of course, I know that mid-200's isn't going to get the biggest unit ....

But then when I go to the website and do inquiries suddenly mid-200's become mid-300's.

I am wondering if others have gone through this kind of sticker shock.

To me it looks kind of unprofessional - if you are going to increase prices by 50%, you should probably do your best to remove advertisements based on the old price.

Have others encountered the same, and if so, how does it make you feel?
7 replies
Deal Addict
User avatar
Dec 13, 2016
4324 posts
3848 upvotes
Probably the advertisement is a year old and not updated or the cheap units were sold out long time ago.
Deal Addict
Dec 4, 2016
1995 posts
1016 upvotes
What you described would not be considered misleading at all as far as condo developments are concerned. Misleading would be to say mid-300's on website, but everything on the grand opening day start at high 400's. When people "miss out" on opportunities because it's sold out, VIP agent call them back and offer them "special" units for mid 500's.
Banned
Feb 23, 2009
1670 posts
1496 upvotes
Oshawa
Hurry, buy now since prices go up every day!!!
Deal Guru
Feb 22, 2011
13085 posts
16689 upvotes
Toronto
They all do it, most get away with it by having a couple extremely small units at the posted price and the rest are way more.
Banned
Jun 4, 2018
90 posts
45 upvotes
Toronto
The only thing worse then agents ....are the developers.
They play these bait & switch games all the time.

The 'public' will never get access to the few cheaper units that they use for promotional purposes anyways.
[promotional content removed]

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