Registraton Of Offers - suggested to reduce 'phantom' Offers

It has recently been suggested that all offers be registered with either a local Real Estate Board or provincially assigned agency.

The purpose is to reduce the so called 'Phantom' Offers.  These are the 'offers' that a listing agent may tell you are coming in on a property just as you tell them you are preparing an offer, with the intention that you raise your offer.  By making some of the details (not price or conditions) available to other agents will ensure that these other offers actually exist.

What do you think of this?  Does it violate your privacy in making an offer or protect you?

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