The Realtor.ca Fatal Lag - courtesy of Tim Olynik
realtor.ca is fat and slow. I know it sounds mean but it's true. I not saying you guys shouldn't hang out, you just need to know the truth before you two get close.
I got a call from a friend at noon on Tuesday. He was just browsing on realtor.ca; a newly renovated condo in a perfect location had just popped up. It had been on the market for two days - two fatally long days.
I booked an appointment for 6:30 pm and, though it took me 46 attempts to parrallel park in front of the building, we met up on time and took a look. There was another REALTOR already waiting for clients at the front door. After we finished there were two more REALTORS with clients also waiting to look at the condo. I can't legally swallow the keys, but I still considered it.
We rushed to write a full price offer. But that night, before I could finish one episode of Boardwalk Empire, I got a call from the listing agent saying we had lost out in competition to another offer.
This was the third day the condo was on the market. Not the first. If we had been there a day before we wouldn't have had any competition and we'd be planning to move in right now.
So what was it about Tuesday that made every serious buyer descend like a sumo wrestler on sushi to this condo? Why didn't they see it on Sunday when it came on the market? Was it a full moon - no. Were mortgage rates increasing on Wednesday - no. Did the US decide that denying health care to everyone wasn't worth shutting down the entire government - strangely, no.
The truth - realtor.ca is fat and slow.
I called it 'The Fatal Lag'. From the time an agent uploads a home's info into our MLExchange system, there is always a delay before it shows up on realtor.ca. Often, a great home is already sold by the time the public can see it on a website.
MLExchange, which agents have access to, is fast - like Ben Johnson, totally unfair fast. I can see a home 9.79 seconds after it's entered. I can set up a search that will email you the second a home that meets your parameters goes into the system. If we had a search set up, we would have been in that condo two days earlier. Heartbreak would have been avoided.
It's a few days later and I still feel like crap about it. A great person missed out on a great home. I know that it will turn out for the best in the end, but I will still say mean things about realtor.ca for a while.