By the same token, emotions can work against people who have the financial resources to buy a unit but for some other reason get cold feet when they have a sound (or even great) investment in their hands. When hundreds of sales occur at a single sales event, the atmosphere is like the trading floor at the New York Stock Exchange, or like the start of a Boxing Day sale at a large retailer. In this atmosphere there are sure to be some people who buy in the heat of the moment and later get cold feet and back out of their deal when they come to their senses, even if they bought a real gem of a property for a great price.
When a unit becomes available during the 10 day cooling off period, the sales rep involved in the deal has the full 10 days to find a new buyer before the unit gets given back to the developer. However, some buyers will back out of the deal at the last minute (IE on the 9th or 10th day), making it very difficult (if not impossible) for the sales rep to find a new buyer in time to salvage the deal.
So you should be poised to snap up these “returns” for your clients as soon as they become available. Timing, access to information, and agility are the names of the game in salvaging these deals.
Before the broker event, get a copy of the list of all the sales reps that are lined up for the broker event. This list will be available at the developer’s sales office or possibly at the office of the exclusive broker for the project. Starting with the first rep in the lineup contact each of them, stating that you have replacement buyers for them should any of their clients back out of their deals.