The most common way developers sell their projects is through pre-selling. It’s a process by which a project, while still on paper, is actually sold to prospective buyers. Many agents actually call this process selling “air.”

Prospective buyers are gathered in the property where the project will be built and are told: “On this land will rise a residential project that will consist of this and that amenities, with so and so open spaces and more.” It’s like telling prospective buyers to close their eyes and imagine what the future development will be like and are then told to buy what the developer promises to deliver in the future. (more…)