Podcast 45: Is Blind Bidding Finally Coming To An End in Toronto Real Estate?

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?

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