TORONTO — Ontario’s realtors say the province should ban so-called “bully” offers that they say give some home buyers an unfair advantage.
Cox says banning the practice will ensure all interested buyers are able to make a fair offer on a home and allow sellers to carefully consider all bids. Cox says eager buyers have been using bully offers to crowd out other buyers in the market and that should change. The practice opens the door for sellers to fill in an offer that may not reflect the next highest bid and can expose the seller to litigation, the association says.Realtors are also asking the government for education programs that require more in-class training to help raise professional standards.
Source: Real Estate Daily Report (realestatedailyreport.net)
The advantage is deep pockets to pay over asking. Is it unfair to have more resources?
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