subject: The Real Estate Scenario In Canada [print this page] The MLS real estate is Torontos official listing service. Most Canadians who want to buy or sell property register online with this system which is the authorized site of the CREA or Canadian Real Estate Association. Brokers too use this to promote homes. Once your home is registered here, it is not difficult to find a buyer or seller.
Multiple Listing Service
The Multiple Listing Service being the official portal to advertise homes for selling or buying is widely used by brokers to exchange details about properties. The brokers sign a listing contract by which they can share property details listed in the website. MLS real estate, is therefore, extremely useful not only to the brokers but also individual sellers and buyers. To help people search for properties locally, the TREB or Toronto Real Estate Board sends partial listings every day.
The MLS is a public portal; brokers also use the internal system of the board in their State. In Toronto, it is the Trebnet. This private MLS contains a lot of information unlike the public MLS. One reason why there is lesser information in the public system is to protect the privacy of luxury home owners. But today, even luxury homes are advertised here without giving the actual address.
For Sale by Owner
Since home prices in Toronto are very high, you can use the services of the internet to put up your home for sale by owner. There are various websites that empowers both sellers and buyers to advertise and clinch deals without using agents. Consequently, you can save a lot of money. Canadians can now do away with middlemen; instead they can access property details online which was earlier limited to those who had access to MLS. You can easily list your house details on real estate websites which only charge a reasonable advertising fee. They provide expert customer service and without commissions your house can be sold.
The Role of Real Estate Agents
In the past decade or so, a lot of changes have taken place in the real estate market all over the world. Although the basics have remained the same, today, it is more sophisticated with the use of the internet; there are home inspections, an important role by real estate agents and provision of disclosure statements. Brokers belong to two categories; agents or brokers and others who have got the designation of a realtor. The latter group has the backing of the industry which is advantageous. Nevertheless, you need to find an agent who is experienced and has a good track record. Check his marketing strategy, commission, his clients and the homes sold by him.
