Connie Adair
Other
Running all over town to find something, or one-stop shopping? It’s kind of a no-brainer. Now the one-stop shopping concept has come to pre-construction condominiums at The Condo Mall in Toronto.
The brain-child of Adam Sax, director of business development for Royal LePage West Realty Group, The Condo Mall currently houses seven developers (including Tridel, RioCan, Bazis, Monarch and Great Gulf Homes) offering 10 projects.
Having multiple developments under one roof saves buyers time because they don’t have to visit several sites, he says.
Half of the newly renovated space is dedicated to developers, who bring in their own design team to create their individual spaces. The other half is occupied by the Royal LePage West Realty Group in-house sales team, which handles sales for all of the developments.
Sax was 13-years-old when he and a business partner started SaxCom Solutions, an Internet information and communication technology company. He sold the company when he was 19 and worked in sales development for international properties for a half dozen years. It was during that time that he opened a condo showroom showcasing six international developers in one space.
He was approached by Royal LePage West Realty Group and encouraged by Hunter Milborne of Hunter Milborne Real Estate to develop the one-stop concept for local developers. It took about a year to develop the concept. Then “we threw the idea” out to developers, and some, like Tridel, wanted to participate immediately, he says. Some developers were hesitant to share space with their direct competition, but they soon learned the benefits the concept offers, Sax says. “Consumers appreciate the ease of shopping and it has been reflected in more buyers and a bigger audience” for everyone.
The Condo Mall opened six months ago and has been “growing extremely quickly,” he says. Sax and partners Peter Riccio and Rick Aurora are already talking about taking the one-stop condo shopping concept to other Canadian cities, including Oakville and Vancouver. They have also talked about taking Manhattan. “The concept will work in any metropolitan area,” he says.
The Condo Mall is a new concept and Sax hopes other Realtors take note. It’s a great concept for those who want careers in condos and pre-construction, he says. “We provide leads of buyers and sellers in the condo realm, which no other broker does.”
Realtors who are interested in joining the team can visit the condomall.com or drop into the site at 306 Eglinton Ave. W. at Avenue Road. The Condo Mall is open seven days a week for walk-in traffic or by appointment. Hours are Monday to Friday, 9 am to 6 pm and Saturday and Sunday 9 am until 4 pm.
The Condo Mall also co-operates with all agents and is able to offer top-level access whether the development is part of the space or not, Sax says.