Bully Offers Push Home B
Leslie Benczik, Broker of Record
Benczik Team Realty
905-477-7766
info@GetBenczik.com
and Business Brokers Act’s (2002)
Code of Ethics, a seller’s real estate
agent must show a buyer’s written,
submitted offer to the home owner
as soon as it is practically possible
With the arrival of Spring, new — giving buyers the peace of mind
MLS listings are being added daily knowing their offer is considered by
with sellers who’ve been putting the homeowner themselves.
off listing their homes now joining
Markham and Stouffville’s spring As of July 1, 2015, Ontario’s Bill
real estate market. With limited 55 introduced a major regulation
houses for sale and an increase update for the buyer’s offer process.
in active buyers, a seller’s market Offers can only be considered
is pushing the Region of York for registered if they are made in writing
record-breaking sales. However, and signed by the party making the
many home sellers may be on the offer. Verbal offers or offers made
receiving end of bully offers trying in writing but aren’t signed by the
to land their dream home before it interested buyers making the offer
are no longer considered registered
even makes it to the market.
— therefore, the seller’s real estate
representative no longer has an
The Order Process in A
obligation to show these types of
Regular Market
offers to their clients.
Buyers work closely with Benczik
Team Realty members to submit
the best offer for the house they’re
interested in buying. We include
any necessary terms & conditions
suitable for their offer, including
the price, the closing date, and the
amount of their deposit.
Bully Offers in Markham’s
Seller’s Market
for the limited number of houses on
the market.
Sales in the first quarter of 2017 rose
12 percent in comparison to the
same three months in 2016, with the
average selling price ($873,631) in
the GTA up 29 percent over the last
twelve months.
“
...property
prices are on
pace for another
record-breaking
sales year...
How do Bully Offers
Work?
”
Bully offers present homeowners
with an offer generally higher than
their asking price, carry little or no
In Greater Toronto Area’s (GTA) conditions on the sale but have a
increasingly competitive real estate set time-frame for acceptance. The
market, property prices are on pace more appealing the offer, the better
for another record-breaking sales chance of having the seller accept.
year and double-digit price growth
According to Ontario’s Real Estate as buyers are aggressively bidding York Region’s limited real estate for