Compare Toronto MLS and Realtor.ca

The Toronto MLS (Multiple Listing Service) is a database of properties for sale or lease that is maintained by the Toronto Real Estate Board (TREB). This database is only accessible to real estate agents and brokers who are members of TREB, and it is an important tool for these professionals to use in their day-to-day work. The public website Realtor.ca, on the other hand, is a website that provides information about properties for sale or lease to the general public. Realtor.ca gets its information from the MLS database, but it is not the same as the MLS database itself.

Key Differences Between Toronto MLS and Realtor.ca

1. Accessibility: As mentioned, the Toronto MLS is only accessible to real estate agents and brokers who are members of TREB. In order to become a member of TREB, an individual must be licensed as a real estate professional and meet certain other requirements. On the other hand, Realtor.ca is accessible to anyone with an internet connection. This means that the general public can easily search for properties and get an overview of the real estate market, while real estate professionals have access to more detailed and comprehensive information through the MLS.
2. Information available: The MLS database contains more detailed and comprehensive information about properties than what is available on Realtor.ca. This includes information about the listing history of a property, the status of a property (e.g., whether it is currently active, pending, or sold), and certain details about the property itself (e.g., square footage, number of bedrooms and bathrooms, age of the property, etc.). Realtor.ca provides some of this information to the general public, but it may not be as complete or up-to-date as what is available on the MLS.
3. Tools and resources: Real estate agents and brokers who are members of TREB have access to a range of tools and resources that are not available to the general public on Realtor.ca. For example, agents and brokers can create custom searches and receive email alerts about new listings that meet specific criteria. They can also access market analysis reports, which provide detailed information about trends in the real estate market in a particular area. In addition, the MLS provides agents and brokers with the ability to collaborate and share information with each other, which can be useful in helping them to find the right properties for their clients.
4. Listing accuracy: The accuracy of the information on the MLS and Realtor.ca can vary. Because the MLS is only accessible to real estate professionals, it is generally considered to be a more reliable source of information. However, it is still important for agents and brokers to verify the accuracy of the information on the MLS before relying on it in their work. Realtor.ca gets its information from the MLS, so it is generally accurate as well. However, it is possible that some information may not be up-to-date or may be incomplete, so it is always a good idea for individuals to do their own research and verify the accuracy of the information before making any decisions based on it.
5. Listing completeness: The MLS database is generally considered to be more complete than what is available on Realtor.ca. This is because the MLS includes listings from a wide range of sources, including agents and brokers who are members of TREB, as well as other sources such as developers and builders. Realtor.ca gets its information from the MLS, but it may not include all of the listings that are available on the MLS. This means that it is possible that some properties may be available for sale or lease that are not listed on Realtor.ca. However, it is important to note that not all properties are listed on the MLS. Some properties may be sold or leased directly by the owner or through a non-MLS process, and these properties will not be included in the MLS database or on Realtor.ca.
6. Fees: The MLS and Realtor.ca are two different platforms with different business models, so the fees associated with each can vary. The MLS is a subscription service that is only available to real estate agents and brokers who are members of TREB. These professionals must pay annual fees to maintain their membership and access to the MLS database. Realtor.ca, on the other hand, is a free service that is available to the general public.
7. Marketing and promotion: The MLS and Realtor.ca are two different platforms with different goals and purposes. The MLS is primarily a tool for real estate professionals to use in their work, while Realtor.ca is a public website that is intended to provide information about properties to the general public. As such, the MLS and Realtor.ca may have different approaches to marketing and promoting listings. The MLS may focus more on providing detailed and accurate information to real estate professionals, while Realtor.ca may focus more on promoting listings and attracting potential buyers or renters to the website.