With many advancements in technology today, it’s so much easier to find and buy property on your own. The real estate listings in Toronto alone will already give you plenty of options to jumpstart your search.
But as with anything, you can’t just make assumptions nor take real estate listings at face value. There are a few myths and misconceptions about this “tool” that you need to know about. A few examples are the following:
Myth 1: All Properties are Listed on the MLS
The truth is, not every property for sale is listed on the MLS. This might shock some people, but it’s true. Some sellers choose not to publicly list their properties. They usually either want to be quiet about the sale or they might have obtained a special deal with their agent.
In other instances, some sellers also choose to directly sell their properties without the assistance of any realtor. This is why you’ll also find properties categorized as FSBO or for sale by owner on your research.
So even if you manage to gain access to the MLS without a realtor license, you shouldn’t think that you now have access to every available property for sale in your area.
Myth 2: Price Estimates Provided by Websites are Final
A lot of real estate listing websites also provide their own estimates for properties. This helps potential sellers to get a ballpark figure of how much they can get in case they choose to sell.
You shouldn’t think that their estimates are accurate and final, however. These websites don’t get to inspect your property closely and factor in other important details about local pricing. As a result, their numbers won’t always be right for your property. You can end up with a price that’s too low or too high which can affect how well you can sell.
Myth 3: The Listings are All the Same in Every Real Estate Website and App
This is another common assumption that a lot of people make. By thinking that websites pull their data from the same MLS anyway, a lot of buyers think that they only need to use one website to check what’s available to them.
The truth is, some websites have their own means of generating leads that will be unique to them. This is why there’s a good chance that there are a few listings on one website that you won’t find elsewhere. So if you really want to make sure that you won’t miss out on a good property or deal, it’s best to check several listing websites.
Myth 2: You Don’t Need an Agent
Some people who think they’re web-savvy enough to find everything they need online might be tempted to just Google their way to their new home and opt out of hiring an agent. At the onset, it may seem like a wise idea since you can now find properties with just a few clicks and taps.
Keep in mind, however that real estate agents are not just there to help you find a property. They do more than just locate a good house for you. Their professional expertise and experience will prove to be very helpful in the trying process of buying a house. This makes them more reliable tools than just your proficiency in navigating the world wide web.
No one’s saying, however, that you can’t opt to completely rely on real estate listings in Toronto when shopping for a new home. You can if you really want to. But if you want the best results, working with an expert is the way to go, especially if you’re a first-time buyer.