I am interested in working with resale condos in the downtown Toronto core. I am wondering what are the pros and cons of working the condo market as a new agent?

I can see where it might be nice to specialize . . . . to identify all of the Condominiums in the area and get copies of their Bylaws, current Tax Assessments, updated Condo Fee Schedules and Services provided, layouts of the various unit Floor Plans with detailed measurements of rooms and the Property Lines, Garaging or Parking Space assignments . . . . all of that stuff necessary to both feel and appear well-prepared and the Consummate Condo Expert when you get your first listing presentation.

But if you're on floor time and the first opportunity to take on a listing happens to be some little Ranch out on a quiet street in a Toronto Suburb . . . . you'll probably deviate from your plan, and grab it.

Or you'll refuse to deal with the stand-alone Ranch because it's not what you want and refer it to someone whose plan has more flexibility.

I was advised to start out by going after condos, here in Calgary. The pros are that many of the people you are marketing to are relatable to you, (assuming that's why you have an interest there). Another pro is that if you get a condo listing that allows a sign to go up, the sign might be in a high traffic area. Also, there is less competition for condos. There is still stiff competition, but not as much as for resale houses. The down side is that condo listings are more complicated. The first couple are a big learning curve. After my first condo listing, I found myself wishing I had taken the condo specialist designation! Another con, here in Calgary at least, is that there is enormous condo inventory right now, so condos are hard to sell, and the sellers tend to be unhappy when it sells, because of how much prices have come down since 2007. May be different in Toronto.