Blind bidding, a longstanding practice in Toronto's real estate market, may finally be coming to an end with the new Trust In Real Estate Services Act (TRESA) legislation.
A few years ago, the Canadian government announced plans to reform the housing market, including a proposed ban on blind bidding. This controversial practice, where potential buyers submit offers on a property without knowledge of competing bids, has long been criticized for driving up prices and suppressing transparency.
With this potential change, buyers in Toronto may finally see a shift towards a more equitable and transparent real estate market. While it remains uncertain when these reforms will come into effect, the possibility of bidding wars becoming a thing of the past brings hope for a fairer and more accessible housing market in the city. At least, for buyers.
Could this be the start of a new way of doing business in Ontario?
Watch this podcast on YouTube:
https://youtu.be/eUBQzt0dnps
Schedule a 15-minute Zoom call with Ken: https://www.broadviewavenue.ca/appointments
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
Subscribe now to keep updated for more information.
If you want to chat with us, do the following:
1. Send an email at [email protected]; or
2. Send a direct message on my Instagram account below; or
3. Book an appointment for a 15-minute video chat using the link on our website.
If you’re not ready to reach out and just want to follow for more, find us online:
YouTube: https://www.youtube.com/kennethyimhomes?sub_confirmation=1
Instagram: https://www.instagram.com/kennethyimhomes
TikTok: https://www.tiktok.com/@kennethyimhomes
LinkedIn: https://www.linkedin.com/in/kennethyimhomes
Facebook: https://www.facebook.com/BroadviewAvenue
Web: http://www.broadviewavenue.ca
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬