Waterloo info session

So it turns out that one of the schools that I want to go to is holding an information session and it is also within comfortable walking distance to my place.. How convenient isn't it? I'm looking forward to this and hopefully getting some of my questions answered. It's disappointing that the website says that I'll only be considered if there is room left after considering all the other candidates. Though does that mean before or after people accept the offer of admission. It is generally recommended that people apply to several schools. Several of those offers get turned down. How they allocate that pool of spots is of interest to me. I need some honest information about my chances of getting back into school for what I want.