Is the bully offer system undermining consumer confidence? Absolutely, but until the rules change, fair buyers must be prepared to respond to bully offer scenarios by viewing the property at the earliest opportunity.
Bidding wars can be emotionally challenging and exceedingly expensive. If they lack sufficient financial clout or the stamina to continue, and/or prefer to avoid paying top dollar, tell them to walk away.
Since boundaries with family can naturally be blurred, it’s best to establish similar clear limitations, professional boundaries and expectations before entering into a principle/agent contract with loved ones.
REM (Real Estate Magazine) is Canada’s premier monthly magazine for real estate professionals. REALTORS®, real estate agents, sales representatives, brokers, owners, administrators, and other real estate industry stakeholders read REM every month for news, analysis, and commentary on Canadian real estate.
REM is independently owned and operated, and is not affiliated with any real estate association or board.