How do realtors get their property information?

[lilbuffet]

I am currently looking at a few properties, but I was wondering how Realtors are able to get the information they do? Are they connected to some sort of database or have access to restricted info?

For example if I wanted to find out information about a property in terms of

Ownership Information
Property History
Insurance
Sales Info
Etc

what would be the best place to search for this information?

Thanks

 

[invst4profit]

Your area land/property registry office would supply you with most of that information for a small fee.
Last time I did it I believe it was $10-$15 per property search.

 

[Anonymous]

If you`re in BC, you can go to your local BC Assessment office and look up ownership information for free. Most other info you have to pay for like the previous post mentioned.

From what I understand, realtors, appraisers and assessors get their information from Kinnexus, a powerful real estate software program. When looking at a property on Kinnexus, you can search/view current and expired listings, sales info, ownership, etc... I have no idea if the general public has access to this software, although I highly doubt it.

I would make sure you have a good realtor who will do the research for you.

Good luck!
Lee

 

[ChrisDavies]

QUOTE (lilbuffet @ Jul 17 2009, 04:50 AM) Ownership Information
Property History
Insurance
Sales Info
Etc

Realtors have access to the full MLS records which includes information about past sales, and days on market, reductions, and a whole lot more. The only way to access this is through a Realtor on a property-by-property basis.

 

[RedlineBrett]

QUOTE (ChrisDavies @ Jul 17 2009, 09:53 AM) Realtors have access to the full MLS records which includes information about past sales, and days on market, reductions, and a whole lot more. The only way to access this is through a Realtor on a property-by-property basis.

Yeppers! A good realtor can provide you with stuff like local market sales stats, trends, info on specific properties, zoning, list price to sales price expectations etc.

 

[lilbuffet]

thanks for the responses, does anyone know if these databases are accessible for a small monthly fee or something like that? Or is it strictly for the eyes of realtors?

 

[NorthernAlex]

Must be a member of OREA to receive this info, AFAIK, member means Realtor and/or Going-to-be Realtor.

Try to find a good realtor. When I am interested in a property I email mine the MLS No or the address (if not listed) and he will give me all old and current infos out of the system (owner, previous..), attachments (like income and expenses listing) anc if he knows something about the street/area (had a customer who had a flood a couple doors down after heavy rain...).

 

[ChrisDavies]

QUOTE (lilbuffet @ Jul 18 2009, 12:06 AM) thanks for the responses, does anyone know if these databases are accessible for a small monthly fee or something like that? Or is it strictly for the eyes of realtors?

No dice. They`ve been known to suspend Realtor`s licenses for allowing direct access. However, a good realtor will give you lots of info.

 

[hjung]

QUOTE (ChrisDavies @ Jul 18 2009, 11:03 AM) No dice. They`ve been known to suspend Realtor`s licenses for allowing direct access. However, a good realtor will give you lots of info.


in ontario, a company called teranet has turned all title information (essentially ownership and mortgage history) into electronic format. when one goes to the land registry they are using the teranet software and database. realtors also have access to this through some kind of subscription to the teranet database through their OREA membership.

i believe non realtors can also get a subscription, but the subscription is restricted to certain job types (e.g. developers) and is fairly costly (a few thousand dollars a year(?)). this is off the top of my head...so some of the details might be incorrect.

for the rest of the information, i.e. sales history, market analysis, property information, i believe OREA members have their own datadase and software and one can only access it through a licensed realtor.

now if only i could be working at Teranet......

cheers,

Howard

 

[ShannonMurree]

QUOTE (lilbuffet @ Jul 17 2009, 07:50 AM) I am currently looking at a few properties, but I was wondering how Realtors are able to get the information they do? Are they connected to some sort of database or have access to restricted info?

For example if I wanted to find out information about a property in terms of

Ownership Information
Property History
Insurance
Sales Info
Etc

what would be the best place to search for this information?

Thanks

Are you in Ontario? If so, why go to the expense when Licensed Realtors already pay this expense in their fees. I would suggest having a good one on your team whom knows the REIN systems and what you need as a saavy investor.

I have some clients whom like to do their own due diligence and go to the Land Registry & Titles to check executions, etc. Otherwise, we, as Realtors, have access to Teranet, sales history, days on market, etc. The Multiple Listing Service is exclusive and copyright protected, yes. This is the value of a Canadian Realtor.

Anyway, good luck with your search!