Now a Toronto-based Toronto based tech company wants to do for the new home and condo industry what the MLS system has done for resale properties.
“You can’t sell what you don’t know exists,” says Andrew Tomassetti, CEO of Inventory Cloud.
Pre-construction, unlike resale real estate, has not had any structured system to market availability to industry professionals, Tomassetti says. Using Inventory Cloud, “builders have their inventory in the hands of sales professionals 24/7. Agents will be able to handle their business much more efficiently and do more business.”
The system brings a “live” inventory that is accurate and real time across the board, with the ability to reserve anywhere, at any time, instantly, he says.
“Gone are the days of submitting worksheets and requesting units, with no certainty in the process. It’s a flawed system that costs time and money on both sides of the transaction,” says Tomassetti.
When pre-construction condos open for sales, normally they are released to agents before the public because it allows the builder to sell quicker with a large sales force of Realtors, the company says. Inventory Cloud solidifies that relationship with an interface to search, reserve and automate the sales cycle.
“We’ve made this system a win-win,” says Tomassetti. “Condo builders will have an around-the-clock salesforce, streamlined allocation process and a much faster turnaround. Agents, whether currently selling new construction or interested in doing so, will be able to ensure that the hours they put in are accounted for – by selling what is available instead of rolling the dice on a unit request.”