The “Worksheet” System Explained

This website will make mention of the “Worksheet” system when new condo developments are launched, so we thought it would be a good idea to explain exactly what the “worksheet” system is.

Condos in Toronto are a hot commodity, there is no doubt about it.  The worksheet system is a system designed to make the Condo selling process as fair as possible without the need for lining up in the wet and cold for weeks and is typically offered at the first round of VIP sales.  Here is how it works:

a) A VIP Broker-only (no clients) event is typically held by the developer to introduce the project (and stuff us with some awesome free food and wine) 1 week prior to the deadline for worksheets.  This gives VIP brokers one week to get a worksheet filled out by interested clients.

b) A worksheet indicates that a client is interested in purchasing a suite in a condo development.  As an interested party, you will indicate which suites/floorplans and on which floors (or floor range, such as 15th-to-18th floor, for example) you would be interested in purchasing.

Some clients will have more flexibility (Floorplan A, B or C on any Floors 10 through 25), whereas other clients will only be interested in certain floorplans and certain floors (example, Floorplan C on Floor 28).  Both are fine, however, most developers ask for three choices.

c) There will be a deadline for the worksheets to be handed in.  Some developers will timestamp the worksheets as they arrive (first come, first served), while others will hold a completely random “lottery”.  We inform our clients ahead of time whether it will be a timestamp or lottery system and advise accordingly.  If it is a lottery system, it sometimes pays to be more flexible in your choices – if your worksheet is drawn but your suite is already taken, they simply move to the next worksheet (as seen, very harshly, at Tableau who received over 1,000 worksheets for 240 suites)

d) Over the next 24-48 hours, the worksheets are allocated suites.  Once you have been allocated a suite, your broker will be notified a time to come in and sign the paperwork and you’re in and out within 30 minutes.  No lining up, no fuss, no muss.  Worksheets can be filled out and faxed or e-mailed, making the process very simple for interested clients.

Below is a link to download a sample worksheet for “BACKSTAGE” Condos.  The information they request (Name, Address etc.) is pretty standard across most developments.

<— Click to Download Sample Worksheet