Will Open Bidding Stabilize the Canadian Real Estate Market?

Ontario just recently announce they will allow home buyers to see other offer prices starting April 2023. This announcement followed the Canadian government's plan to ban blind bidding nation-wide in its 2022 federal budget. One thing to note is that starting April 2023, open bidding will be OPTIONAL. This is just another strategic tool that will be given to sellers to entice buyers to put an offer on their property over another. During markets with low inventory and bidding wars, I don't think we will see many sellers using this tactic. So will this help to stabilize prices across the Canadian real estate market... we'll just have to wait and see!

In this video, I talk about the news surrounding open bidding coming to Ontario real estate and what it means for us here in Toronto!

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