I had a client call me today and ask about a house that a friend of theirs had bought in Port Credit. The buyers agent told them that the listing was coming on the market before it actually did. They want me to advise them also about new listings as well before they come on the market so that they don't get into a bidding war.
The reality is that it is very rare to be able to find out about a property before it comes out, and if you do the sellers normally want to wait to see if they can generate more than one offer.
The exception to this is the "Coming Soon" signs you'll see on For Sale Signs. This is done to generate interest in the market but also as a tactical move for the listing agent to be able to generate buyer leads from the sign.
In the case above, the buyers agent was from the same office as the listing agent. The property was on the market for less than 3 hours. Unless there were extenuating circumstances involved (immediate relocation, divorce etc) I find it hard to believe that the sellers would not want to wait and see if they could get over the asking price for their house.
I have been very successful on multiple occasions in getting my buyer clients in before anyone else has seen new listings and been able to avoid bidding wars by being prepared.
Under normal circumstances most Realtors don't let a lot of other real estate agents know they have a property coming on the market. I think they are afraid that someone else will go in and try and scoop the listing from them. When in actual fact it would help to get the word out and promote the property and possibly generate more interest and multiple offers.
The best way to find out about new listings is to be notified as soon as they come on the market and be ready to act fast as sometimes they do sell right away as was the case here.
If you are interested in finding out about new listings you can sign up for my MLS Listings and be the first to know.