Deal-Driven Buyers Dominate the Current Toronto Real Estate Market
It’s important to remember that not every seller is highly motivated to sell—some are simply testing the market.
What Should Buyers Look for on MLS When Searching for Potential Deals?
To identify listings that may offer a better opportunity or value, buyers should watch for the following signs which are key indicators of Seller Motivation.
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Price Adjustments: A reduction in the asking price may signal a motivated seller who is aligning with current market conditions.
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Enhanced Commission: A commission offered to the co-operating agent above the standard rate can be another sign of urgency.
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Broker’s Remarks: The use of terms like ‘motivated’ in listing remarks often suggests the seller is open to negotiation or flexible on terms
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Specific Closing Date: Listings that include a firm closing date (rather than the typical 60, 90, or 120 days) may indicate the seller’s need for a timely transaction.
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Vacant Properties: These properties are currently unoccupied, which can result in ongoing costs for the owner—including property taxes, insurance, utilities, and general upkeep. Identifying and addressing these properties can present unique opportunities for both buyers and sellers.
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Properties Purchased Approximately 4 to 4.5 Years Ago: Many of these properties will soon be approaching their mortgage renewal period. Property owners will need to refinance, sell, or explore investment opportunities, as current mortgage rates may significantly increase their monthly payments.
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Power of Sale (POS) Properties: These properties are typically listed by lenders/private/or banks after a homeowner has defaulted on their mortgage obligations. Under a Power of Sale, the property is sold by the lender, usually with no warranties or representations. Buyers should be aware that such properties are sold in “as-is” condition and may require additional due diligence.
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