 Multiple Listing Service and your REALTOR
Like other professionals, a REALTOR is as good as the information at his or her disposal.
The Multiple Listing Service is a co-operative system used by REALTOR Members of Canada's real estate boards. It is different than the consumer website www.mls.ca, which offers a brief description of most properties listed on MLS systems.
The Toronto Real Estate Board's Multiple Listing Service provides an ongoing inventory of available properties and other related information. With training, experience and access to this database, a REALTOR can provide invaluable assistance in buying or selling your next resale home.
For sellers, a REALTOR can use the system to determine a fair listing price by performing a comparative market analysis. This analysis focuses on the geographical location of your property and describes it as accurately as possible. The database can then be searched to reveal comparable sold, active and expired properties, retrieving information such as sold price, list price and average time on the market to help determine a range of fair listing prices. For buyers, a REALTOR can match your very specific needs to all properties listed.
Your REALTOR can create a profile outlining your desired price range, location and specific details like the number of bathrooms, bedrooms and fireplaces. For buyers who are geographically focused, your REALTOR can even search all active listings on a particular street and retrieve all relevant information including property description, a photograph, and assessed value. The system updates nightly, listing all potential properties that meet your particular needs and automatically emailing them to you. In helping you to determine an offer, your REALTOR can also search specific properties' historical data such as previous selling prices.
As well, the MLS allows REALTORS to monitor monthly sold statistics to ensure property prices reflect current market conditions. Whether you are a buyer or a seller, the MLS system supports your REALTOR in helping you make informed decisions that lead to successful transactions.
REALTOR SERVICES:
Maybe you're buying a home
for the first time. Or maybe you're selling your old home to
move up to something new. Whatever the reason, the buying
and selling of a home is a big event. It's an intricate
process involving many specialists.
One of these specialists
is a REALTOR, whose job it is to make the transfer of
property as easy as possible. But not all licensed or
registered brokers or salespeople are REALTORS.
The term
REALTOR is a trademark identifying real estate licensees in
Canada who are members of The Canadian Real Estate
Association (CREA). REALTORS adhere to a strict Code of
Ethics and Standards of Business Practice.
The code of
ethics is a firm set of rules, describing what kind of
performance you have a right to expect from a REALTOR. It's
your guarantee of professional conduct and the best in
service. That's why many buyers and
sellers turn to a REALTOR. As a member of their local real
estate board, REALTORS have their finger on the pulse of the
housing market and are in daily contact with buyers
potentially interested in your home.
You can trust a REALTOR to
protect your interests and to look after details. And all
the while, you're an active partner in the process, working
with a REALTOR, every step of the way. So the more you know
about buying and selling homes, the better your working
relationship with a REALTOR. A REALTOR’s commitment to
high standards of professional conduct works to the
advantage of buyers and sellers alike.A REALTOR is knowledgeable
about developments and trends in real estate.
A REALTOR will
get you the facts: comparable prices, neighborhood trends,
housing market conditions and more. A REALTOR is committed to
ongoing education to increase competence and effectiveness
in real estate trading. Every REALTOR has been
trained and tested. And REALTORS are bound by a strict Code
of Ethics and Standards of Business Practice that ensure
fairness to all parties in a transaction.
A REALTOR's pledge is to be
honest in disclosing property information and forthright in
providing the facts needed to help you make one of the most
important decisions of your life. And remember, only a REALTOR,
a member of The Canadian Real Estate Association, has access
to the Multiple Listing Service®, Canada's most powerful
real estate marketing system.
CONTACT US FOR ASSISTANCE
Frequent Questions and Answers:
How long can you list your property?
MLS system requires only minimum 60 days listing period. Depending on your property type, this listing agreement can be more than 60 days. The listing period are specified by the realtor on the MLS agreement. It is important that you keep the listing period shorter. With longer listing period and time comes that you are not satisfied with the agent's performance and services, the listing agreement cannot be cancelled unless the listing agent and the listing broker agree to cancel it. Always ask and read what you are signing for. You could be signing for 6 months or one year. Ask the agent why you are signing for longer period. Remember, this is a legal document.
Q: What is the difference between the Multiple Listing Service (MLS) and the consumer website MLS.ca?
A: The Multiple Listing Service is a cooperative system used only by REALTOR Members of Canada's real estate boards. It is accessible to any REALTOR Member who has agreed to represent your interests and share remuneration from the transaction with a cooperating REALTOR Member. The MLS contains detailed information and numerous search tools, all designed to match people with the properties that fit their exact requirements. MLS.ca is a website operated by the Canadian Real Estate Association (CREA) that displays an abbreviated version of most listings uploaded to the MLS system.
Q: What is a "Lockbox"?
A: A lockbox is a universal metal container for your house key that is hung on the front door and can only be opened by a special key or combination by licensed Sales Representatives. It provides access when the owner is away, thus assuring full exposure to prospective buyers.
Q: Do certain geographical areas have unique home selling requirements?
A: Yes. Home selling requirements vary from area to area. Ask your listing Sales Representative to investigate special taxes or other requirements applicable to the area in which you live.
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