Buying Real Estate in Toronto, new sense of hesitancy with buyers!

As I always do, I read the Globe and Mail this morning, first page of Globe Real Estate - 'Put that house on hold' with a top realtor in #Toronto being quoted that the bidding war activity has been muted. I called it about a month or so ago, when taking a young couple, first-time buyers, out to view homes.  We talked about the importance of the #BuyerRepresentationAgreement being signed before we start the home buying search and what it meant for them to be represented. So, as we started looking at homes, of the 7 homes, 5 were withholding offers. Read between the line.....they were looking for multiple bids to bring the selling price above asking.  Now, I like to go to sleep at night knowing that I have provided conscientious and ethical service to my clients. To that note, I had a conversation with my clients about why their offer should include financing and home inspection clauses amongst others.  We were preparing to look at just what their maximum bid would be, with the conditions attached, and went about previewing homes.   Well an interesting thing happened.....I received calls from realtors asking If we were registering offers on their properties as they had only received one offer. The first thought that came to mind was 'well you should do due diligence for your seller and me for my buyer clients and why would I allow them to get excited about their first home purchase only to be let down that the house they love sold for $100,000 over asking?'  So, off we go again, to look at homes tonight, breathing a little easier that there are other buyers thinking the same thing. I have to protect my buyers and, for that, I am very proud of what I do and the level of service I provide my clients. I am proud to be a #Century21Realtor.

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