While many people may assume MLS and REALTOR.ca are interchangeable terms and identical platforms, they are not actually the exact same thing. Of course, one major reason for that assumption is likely because the REALTOR.ca web address used to be MLS.ca! Since that changed a while back, and many people didn’t seem to notice (typing MLS.ca in your address bar will still direct you to the website that is now REALTOR.ca), the Canadian Real Estate Association (CREA) has had this posted on its main website.
Though there are obvious similarities (properties listed for sale), here is a brief summary of the few main differences:
An MLS (Multiple Listing Service) system is one that is run by an individual real estate board and accessed only by Realtors that are members of that board. For example, if a Realtor is a member of the Toronto Real Estate Board (TREB) then they work with TREB’s MLS system (called Stratus).
REALTOR.ca is run by CREA and each of the individual boards can submit their listings to that site. So it is a one-stop nationwide advertising platform where many MLS listings can be found – but not necessarily all. One can also search the site for individual Realtors across many boards.
REALTOR.ca can be easily accessed by the public. However, there is a delay between the time a listing is posted on a local MLS system and the point at which it appears on REALTOR.ca. There is also less information on REALTOR.ca (for example, how long a property has been on the market).
An MLS system can only be accessed by Realtor members. There is more detailed information and real-time updates.
What does this mean for a potential buyer searching for properties?
If you are casually looking at the pricing and supply of homes in an area, and are perhaps not in a rush to buy, then REALTOR.ca is a good place to start. However, if you are actively looking for a property, have specific requirements, and/or have found that there is limited supply and competition from other buyers, then you should be working directly with a Realtor. An automated search can be set up based on your specific requirements, and immediate notifications are then emailed to you whenever a property match hits the market – before it shows up on REALTOR.ca.
If you are interested in setting up a search, please don’t hesitate to contact me. It is easy and quick to set up, it costs you nothing, and you don’t have to feel obligated or pressured into anything. You can receive property updates for as long as you wish, change your search parameters, or cancel the notifications anytime should you decide it’s not the right time to move. If and when you see a property you would like to see, simply let me know and we can schedule a visit. We can do this as many times as it takes until you find the right property. It doesn’t cost you anything to use my services as a buyer. ~ Laura
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