Why MLS.ca is not your best real estate buddy.

It’s simple really. The listings are old news before they hit MLS.ca. There is a reasonable explanation.

Remember when you had to write a school essay entitled “A Day in the Life of a Penney”?  I’ll do something similar here, and take you through a bulleted version of “A Day in the Life of a Listing”.

• You sign a multiple listing agreement outlining the basic terms and conditions for selling your home.
• The agent completes a home data sheet (i.e. room measurements, age of the home, type of roof etc.)
• The agent sends the data sheet, the listing agreement and an exterior picture of the home to NLAR (the Newfoundland and Labrador Association of Realtors) who then uploads the information to the Realtor only MLS®.
• All information uploaded to the Realtor only MLS® is uploaded to MLS.ca at midnight of the same day.
• As soon as a listing is uploaded to the Realtor only system it is immediately available to all the agents in the province.
• This means it is then available to buyers working with a realtor to purchase a home.

At least that’s the way it works now. Soon recent amendments will allow an agent to directly upload a listing to the Realtor only MLS®. Because NLAR (rightfully so) wants to vet listings before they go public, realtors may have access to a new listing several days before it reaches the public MLS.ca site. This latest development means buyers working directly with agents will have anywhere from 8 hours to several days advantage over buyers who depend on MLS.ca for their information.

If you’re seriously looking at buying a home in St. John’s or the surrounding area, there’s no question, an on-the-ball agent is your best real estate buddy.  

Call or email if you would like me to help you find a home. I'd also be happy to answer any other questions you may have about real estate.

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