In Part 1 of this post, we talked about how Toronto buyers can get a jump on other buyers in competitive spring market. My top tip was to go to see a home as soon as it is listed in order to make an offer before other buyers have even had a chance to see it – thereby (hopefully) skipping the headache of competing in a bidding war.
While most buyers will agree that this sounds like a great plan, you might wonder how you are supposed to find out about houses for sale “first” if every buyer as the same access to this info.
When you see new houses listed for sale on MLS.ca (now Realtor.ca), many of these have actually been listed for sale 2 to 3 days earlier – which explains why you’ll see a house that you think was just listed, but when you call to enquire about it you find out that it’s already been sold.
Even buyers who are receiving automated emails of new listings from their real estate agent every day are getting the newest listings a day after they went onto the market. Even this is a day too late if you want to have an advantage over other buyers.
So how to be first? The key is to see homes the same day they are listed on the internal MLS website that only agents have access to. Up to now, agents have been the only people with access to the newest properties coming onto the market for sale. Fortunately, thanks to the de-regulation that is happening in the Canadian real estate industry, buyers now have the same access.