Toronto Home Buying Is Like The Olympics It’s A Competition!

skier competition

If you haven’t heard our present Toronto housing market has a sever shortage of good listings.   However in saying this it only applies to our housing market and not the condominium market where you still have your choice of dozen of units to choose from in any one building across the city.

If you are expecting to find a house in this market and are relying on open houses and mls.ca then you are putting yourself at a great disadvantage.  Let me run through the scenario.  If you are scanning mls.ca to find a house you should know it takes 24 to 36 hours for a listing to load.     Once you do find a great place you see that an open house is schedule for the weekend, so you make plans to take it in.  You drive up to the house and see that it’s on a great street, in your price range and looks great.  Finally the perfect place.

Then  as you walk in the door and the listing agent looks up from their laptop and informs you that the house sold early in the week…sorry.

The first thing you need is you have to bite the bullet and work with a Realtor.   Yes, I know you have most likely encountered the same dolts and narcissuses I have had the misfortune to work with, but the good thing is you can tell them to bugger off.   But once you find a Realtor who listens and does what you ask them to do, then you have found someone who can deliver value.  Or what I like to a call, “A Keeper”.

To deal with the present Toronto housing market for my clients I have the same daily set of actions. Remember, it’s a competition with the goal being first out of the gate or be first in putting points on the scoreboard.  It starts with me reviewing the new listings which have been loaded by other brokerages and being a full time realtor I see them immediately.

From the new listings I send those which match my clients’ housing criteria directly to them via whatever digital communication pathway we have established (email, dropbox, direct messaging).  Then if it works for my buyers we will book and appointment that very same day.

As we are walking through the house we are fully prepared as we have armed ourselves with house’s selling history, sales comparables, a neighbourhood profile as well as any seller background information we can glean through a social media probe.  Now if my buyers say yes, we then are able to put together an informed offer that night which hopefully will end in a negotiated deal that very same night.   The next day when you see the same house come out on mls.ca we have already secured a conditional deal and our deposit cheque is being cashed by the listing brokerage.

If you expect to win in our present Toronto housing market you definitely want to give yourself a competitive advantage.  So if you remain on the sidelines you will continue to be a spectator and never reach the podium.  If you are competing you want to win and not settle for second.