Ep. 51 - Why Every New Builder Home in Toronto Is Overpriced—Every. Single. Time.
The Last Honest Realtor
In this episode of The Last Honest Realtor, David Fleming exposes the costly cycle of builder homes hitting Toronto’s market at fantasy prices—again and again. Every new build, the same result: a sky-high listing, a string of failed agents, and a year spent chasing buyers who never come.
From the scorpion-and-frog parable to brutal, fact-driven case studies, David breaks down why builders stubbornly ignore local tastes, overvalue irrelevant features, and sabotage their own sales—all while the neighbourhood looks on in disbelief.
In This Episode:
- Why every new builder home in Toronto launches at 20% over market value—and stays there
- The critical mistakes out-of-area builders make when they ignore the local buyer
- How hiring the wrong agent costs sellers time, money, and brand reputation
- The features nobody wants: pools, basement apartments, and gaudy finishes that drive buyers away
- Why serial price drops and relistings destroy buyer trust and erode value
- What actually works: understanding neighbourhood demand, staging, and fit-for-market design
- The economics of ego: how builders talk themselves out of a deal, every single time
Timestamps:
00:00 – Intro: Why every new builder home is overpriced, every single time
01:22 – The scorpion and the builder: a parable for Toronto real estate
05:10 – Out-of-area builders: repeating the same mistakes
10:45 – What buyers actually want (and what they’ll never pay for)
19:04 – The price drop dance: relistings, terminated agents, and wasted months
25:25 – Reputation, brand, and the agent that actually gets it sold
32:15 – Closing thoughts: adapt, or stay stuck on the market
Subscribe, comment, and share this episode with anyone convinced that “their” new build is the one exception.
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