Bidding Wars In Toronto Continue
By pricing a home lower than market value, agents have continued to reinforce the bidding war mentality in the Toronto Real Estate Market.
Some think this is undermining our profession because some agents will under price any old house. Others think the market of buyers are demanding it. Some buyers out there will tell you they are sick of losing out on homes. This can also really backfire for sellers if no one shows up with offers!
Think of all the time wasted by all the parties involved when 10 people have to get pre-qualified, get home inspections, only to have nothing come of it.
What are your opinions on bidding wars, multiple offers, and homes being listed at under market value?
