Like other professionals, a professional Realtor is as good as the information at his or her disposal. The MLS (multiple listing services) is a co-operative system used only by Canada's real estate boards to give maximum exposure of properties listed for sale. About 90 per cent of all resale homes in Canada go through MLS. The real estate database system operated by the Toronto Real Estate Board under the MLS trademark provides an ongoing inventory of available properties and other related information. With training, experience and access to this current and timely database system, a Realtor can provide invaluable assistance in buying or selling your next resale home. For a seller, the Realtor can determine a fair listing price by performing a comparative market analysis utilizing the MLS system.

This analysis focuses on the geographical location of the subject property and describes the subject property as accurately as possible. Once this is done, the database can be searched to reveal sold, active and expired properties. From the retrieved comparable properties, information such as sold price, list price and average time on the market, the Realtor can interpret this information, in light of current trends, and infer a range of fair listing prices. A Realtor can then search specific streets, focus on a particular range and analyze active, expired and sold listings to determine a fair listing price. Once listed, the salesperson can use this information to match a prospective purchaser's needs.

For a buyer, the Realtor can create a profile that depicts the buyer's housing needs in terms of basics such as price and location as well as capturing specific details such as the existence of an ensuite laundry, exterior cladding, fireplaces, number of bathrooms, bedrooms and kitchens, or any subset. The system updates and lists potential properties that meet the buyer's particular needs from all available active properties daily. The Realtor can then search specific properties (suitable active listings and expired comparable properties) and determines historical data such as previous selling prices. Also from the database, a Realtor monitors monthly and historical sold statistics to ensure property prices reflect current market conditions. For a buyer that is geographically focused, the Realtor can search all active listings on a particular street and have all relevant information including property description, a picture and assessed value. With the advent of current technologies, some listings allow the salesperson to view the interior of homes right from their computer.

By maintaining a comprehensive list of all active, sold and expired listings as well as historical data, the MLS system allows the real estate professional to ensure informed decisions are made for a "win - win" transaction between both the buyer and seller of resale property. Courtesy, Toronto Real Estate Board.