Hey guys, Investor from Canada here.
Just wondering what is the best way to calculate the ARV on a potential deal when not using an agent or don't have MLS access. I'm not sure if we have public access to any sold properties, we don't have Zillow or Redfin just realtor.ca and other sites that all use the public MLS.
What do you guys do? Ask a favor from an agent? Offer to pay them a bit maybe?
Those other sites like Realtor.ca should be able to give you an idea of what things are selling for. If you have some time, attend an open house within the community. Usually Realtors hosting the open house will have a comp sheet for the neighborhood that you can take with you. That should provide some more precise numbers.
Unlike it's U.S.A. counterpart, Realter.ca does not provide historical/recent sales data, so you are limited to listing/ask prices in the vicinity of your property.
In many provinces, the property tax assessor makes available recent sales data for properties for free (NB) or for a fee (ON). This dataset includes all sales - both private and those through a realtor - and will be more complete than what is available to a real estate agent on the private side of Realtor.ca. I would expect brokerages in Ontario to have a subscription to MPAC.ca, so if you have a real estate agent with whom you regularly work, they may persuaded to pull comps for you (either as a favour or for a small fee).
@Ryan Stevenson yes..ask a couple of credible agents to run comps for you, and then help coming up with ARV.
Whomever helps you the most and most knowledgable about the area, you can even give them the listing after the flip.
All the best!
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