Heddle Real Estate - Royal LePage State Realty Brokerage

By Mike Heddle
Posted Monday, Oct 04, 2021 10:42 am

What an end to blind bidding for real estate could look like

Critics of the blind bidding process for real estate are pushing for what they say are viable alternatives that could create a better system for both sellers and buyers.

In provinces across Canada, blind-bidding is the default practice when a home attracts multiple offers. In this scenario, buyers compete to offer the highest purchase price on a home without knowing the dollar amount of the other bids.

"I think there are serious issues with the way we are conducting things right now," said Murtaza Haider, a professor of data science and real estate management at Ryerson University.

Haider says an end to blind bidding could have some impact on volatility in housing prices, but more importantly...[READ MORE]

Shared by the Heddle Real Estate team

Heddle Real Estate is an award-winning real estate team serving Hamilton, Ancaster, Stoney Creek, and the greater Niagara region with trusted expertise and a client-first approach.