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.
Core Assets in Toronto says it is the first real estate brokerage to launch an “avoid bidding wars” button on its website. The button will give buyers the ability to search for properties that are no longer holding back offers.
There are many more examples of frustrating stories where our buyers walk away from a bidding war bitter and disillusioned. Here’s a marketing approach for you to clone after an unsuccessful offer presentation.
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.