Property agents bought up to 20% of some new condo launches: Did ‘first dibs’buying add to Fomo?
Property agents bought up to 20% of some new condo launches: Did ‘first dibs’ buying add to Fomo?
What’s going on?
Even before showflats open to the public, a quiet first wave of buyers often enters the queue — and many of them are property agents themselves. In certain hot launches, agents reportedly bought up to 20% of all units, raising questions about fairness, optics and whether these early bookings amplify Fomo for everyday buyers.
Across all private launches from late-2024 to late-2025, agent purchases formed an estimated 4–5% of total sales. But the concentration was highest at a few marquee launches where insider demand skewed early sales numbers.
What exactly are ‘first dibs’?
Many developers run internal booking windows before public launch day:
- Marketing agents and teammates get priority access
- Family members and loyal investors may be included
- Units appear “already snapped up” before the public ballot
These early reservations create strong launch momentum — but from the buyer’s perspective, it can feel like the public never gets a true first chance.
Is agent buying allowed?
Yes. Current regulations allow agents to purchase units in the projects they market, as long as they:
- Declare conflicts of interest
- Do not misrepresent pricing or availability
- Do not engage in flipping schemes that breach cooling measures
So the issue is not legality — it is perception, fairness, and how these early bookings shape public sentiment.
How this fuels Fomo
- “XX% sold on launch day” headlines are inflated by internal bookings
- Best stacks disappear before genuine buyers enter
- Price anchoring occurs when insiders accept opening prices
In a market where launches can move fast, this psychological pressure can push buyers to commit earlier — or stretch budgets unnecessarily.
Why do agents buy?
- Confidence in the project — “skin in the game”
- Long-term investment rather than speculation
- Housing needs for self or family
But when many insiders enter early, buyers may assume agents know something they don’t — even when motivations are perfectly normal.
What this means for the average buyer
You should ask yourself:
- Are launch prices supported by fundamentals?
- Am I feeling pressured because of hype?
- Would a resale or quiet launch offer better value?
Key Takeaways
- Agent purchases are a minority overall, but impactful at certain launches.
- Early insider demand can distort “public launch” optics.
- Buyers should evaluate based on budget and fundamentals — not launch hype.
How to avoid Fomo-driven decisions
1. Fix your walk-away price before viewing
Determine your maximum comfortable budget and stick to it regardless of launch-day excitement.
2. Ask about insider take-up
It’s reasonable to ask how many units were taken during internal previews — this clarifies how many are truly available.
3. Compare alternatives quietly
Completed or near-completed condos often offer better PSF, clearer views, and immediate rental income.
Bottom line
The fact that agents bought a significant portion of units at some launches does not imply wrongdoing — but it highlights the need for buyers to look beyond “sold out” banners. In a fast-moving market, clarity and discipline remain your strongest defences.
