homeabout uscontact us
when you think real estate...

« Recipe for Successful Reno Projects | Main | Pre-Listing Inspections May Simplify Negotiations »

Searching for Real Estate Online? Get the Whole Story

There’s a growing perception in the minds of Canadian homebuyers and sellers that the information they access on real estate consumer websites is exactly the same information available to real estate professionals. Nothing could be farther from the truth. The reality is that real estate professionals have access to a great deal more valuable information than what the public sees when they visit listings on such sites as or Additional, but critical information such as listing and expiry dates, previous prices, required deposit and vendor information all play a vital role in setting a list price or determining a negotiating strategy. This is the ‘insider’ information available to real estate professionals that helps them to effectively counsel their buyers and sellers. It’s also what can make the difference in an offer being accepted or putting thousands of dollars in their customers’ pockets.

There’s another danger in the erroneous perception that public MLS information viewed online is ‘the same’ as the data made available to professionals. This misconception can sometimes be the first step down a slippery slope that ends with the homebuyer or seller thinking they can also do the same job as the professionals. It’s a conclusion that can have very costly consequences.

Homebuyers and sellers need to understand the true reality of public online information. The edited listings that consumers can view online is just the ‘tip of the iceberg’. This ‘snapshot’ is usually enough information to decide whether a property merits a closer look. However, what a buyer sees on a consumer listing site barely scratches the surface of the depth of information a real estate professional has access to, online and otherwise. Not only do they have access to restricted online MLS data, the real estate professional also brings additional information to the table that is acquired through a number of other sources, including market forecasts from national and provincial real estate organizations; sales data from their local real estate boards; local market insights from their own company or local office, zoning and development news from various civic authorities and even personal first-hand knowledge about a community, the neighbours or an individual property.

More importantly, the real estate professional not only has access to a great deal more information than the consumer, they also have the experience and expertise needed to interpret that information and use it to your best advantage. So, after you’ve searched through some listings online and you’re thinking you’d like to know more, contact the Real Estate Team, and get the whole story.

Posted on Monday, March 26, 2007 at 02:26PM by Registered CommenterElaine in | CommentsPost a Comment

Reader Comments

There are no comments for this journal entry. To create a new comment, use the form below.

PostPost a New Comment

Enter your information below to add a new comment.

My response is on my own website »
Author Email (optional):
Author URL (optional):
All HTML will be escaped. Hyperlinks will be created for URLs automatically.