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.
Since relatives already know you, you’d think the process would be easier, but it ain’t necessarily so. There’s usually no need to convince them to trust you personally, but professionally may be an entirely different matter.
It may be mission impossible, but you must convince them to open their minds. If they continue to insist their mind is open and remain certain of their position, explain that certainty exists only with a closed mind.
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.