One of the best kept secrets around is a new application by the Toronto Real Estate Board called Collaborate. Once you have been invited to join by a TREB member you can set up customized searches and the system will automatically email you the listing that meet your criteria.
The unique aspect of Collaborate is that unlike other systems that don't have immediate updates, this application will notify you in virttually minutes of a new listing that meets your criteria. Further, you have total control and don't need a Realtor involved at this point.
Email me at email@example.com and I'll be happy to set you up and I promise not to bother you unless you ask.