MLS Website.

[deal_lurker]

Hi,

Does anyone know how often the MLS.CA website (http://www.mls.ca) is updated? i.e. if an agent posted/updated something does it show up instantly?? or does the system add any changes/new listings to the site once a day?

[tomincanada]

It's updated daily from what I remember, but it's also up to the agent just how soon it goes online. They have to upload pictures and enter the descriptions & room sizes, etc. This may take them a few days to get around to doing. Sometimes I think they wait a few days on purpose so that other agents and such can have a look at the place before it goes on the market.

[deal_lurker]

I understand the part about the agent taking time to create/update and fix details for a property that they are about to list.

I guess my question is what happens when an agent does decide that he/she is done with a new listing and wants it to go online? Does the system instantly allow it to show up in search results by the general public immediately (after the agent has submitted it)? or Does it queue up all of the new listings that agents have signalled to be placed online and allow all those to show up all at one time (ie once a day or 'x' times a day)?

Also for your comment about agents waiting a few days before publicly listing properties is that really true (can someone in the industry confirm)? Wouldn't that remove some of the advantage and time exposure of a given listing to the public? Not knowing anything else... but if I were an agent, I would want to listing the property to the public as soon as I can. This would be to maintain maximum exposure to get the best price possible (ie multiple bids...etc) and to sell it quickly.

Would having a "pre-public" listing viewable by only agents create a two tiered MLS system? Whereby agents (or people close to agents) get a slight.... albeit very very small upper hand to know about properties before the greater public does?

It's updated daily from what I remember, but it's also up to the agent just how soon it goes online. They have to upload pictures and enter the descriptions & room sizes, etc. This may take them a few days to get around to doing. Sometimes I think they wait a few days on purpose so that other agents and such can have a look at the place before it goes on the market.

[tomincanada]

I guess my question is what happens when an agent does decide that he/she is done with a new listing and wants it to go online? Does the system instantly allow it to show up in search results by the general public immediately (after the agent has submitted it)? or Does it queue up all of the new listings that agents have signalled to be placed online and allow all those to show up all at one time (ie once a day or 'x' times a day)?

I can speak from experience here, as I used to do programming for a company that hosted MLS Listings for agents, and once a day we uploaded to MLS and they would usually appear the next day. However, the local real estate board had to input the listing before MLS would post it (in addition to our information), so that could take a few days if they are behind.

Also for your comment about agents waiting a few days before publicly listing properties is that really true (can someone in the industry confirm)? Wouldn't that remove some of the advantage and time exposure of a given listing to the public? Not knowing anything else... but if I were an agent, I would want to listing the property to the public as soon as I can. This would be to maintain maximum exposure to get the best price possible (ie multiple bids...etc) and to sell it quickly.

Would having a "pre-public" listing viewable by only agents create a two tiered MLS system? Whereby agents (or people close to agents) get a slight.... albeit very very small upper hand to know about properties before the greater public does?

I know this to be true in some cases as I know agents who will view listings and will email them to you before they are on MLS, once again this probably varies by agent and depends on the market. If it's a slow market they may decide they need to get it out there as soon as possible, but I think it most cases that's not a problem.

The system is a little tiered if you want to look at it that way. Agents and their current customers (people looking for homes through them) will often have first look at houses, at least in their own company, because ideally they want to sell it to one of their own customers so as to keep both comissions.

[TotallyKiller]

If you want the most updated postings, go to agent's websites and sign up for automated postings. You will often get a listing there that has yet to be posted on MLS.

[AlexH]

If you want the most updated postings, go to agent's websites and sign up for automated postings. You will often get a listing there that has yet to be posted on MLS.

Yup, my realtor's emails generally showed up 3-4 days before it showed up on mls. Sometimes even longer.

[coolspot]

Hi,

Does anyone know how often the MLS.CA website (http://www.mls.ca) is updated? i.e. if an agent posted/updated something does it show up instantly?? or does the system add any changes/new listings to the site once a day?

From what I've heard - agents get to see listings before they're posted on the public MLS... and I believe their listings contain more details too.

But in the end - with such a competitive housing market - these advantages don't amount to much. The buyer will probably wait and collect bids anyways

[deal_lurker]

Yes... I guess in this hot market it's ok... as there will be enough eyeballs looking at the listings... but in a cooler/cold market it may not be that fair as someone with advance information may scoop in and take advantange of a seller that are in a tight situation before a listing is out long enough for the seller to get a better price.

From what I've heard - agents get to see listings before they're posted on the public MLS... and I believe their listings contain more details too.

But in the end - with such a competitive housing market - these advantages don't amount to much. The buyer will probably wait and collect bids anyways

[nogoro]

not sure exactly where fairness comes into the equation. the real estate agents pay fees to get access to their top tier listing system, and the whole
point is their buyers will know first if a house goes on sale. The agents do not want to depress the sale price because they make less commission that way.