BIG CHANGES COMING TO REAL ESTATE

Jan 31, 2019

By Christine Ross

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If you’re in the market to buy a home, expect some changes.

The government is considering allowing realtors to tell potential home buyers the prices of other offers in bidding wars. The province has launched consultations into the entire real estate act and revealing bids is one rule it’s looking to change. Currently if there are multiple bids on a home, the seller’s broker can only disclose the number of competing offers, but no details. The Ontario Real Estate Association has been pushing for a change to that rule and are thrilled consultations are underway.

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