Canada’s national real estate association says that ending blind bidding would not bring down housing prices and would deprive homeowners of the choice of how they want to sell
The Canadian real estate industry is gearing up to fight Ottawa’s plan to ban a common home selling practice known as blind bidding.
“Canadians have the right to choose how they want to sell their home, which is likely the largest transaction of their lives, and banning blind bidding removes that choice,” said Pierre Leduc, spokesperson for the Canadian Real Estate Association. But Ontario – the country’s largest real estate market – has indicated it is not on board. Premier Doug Ford has said he supports fair competition, but does not want new rules.
It is not clear whether British Columbia would support a ban. The province has long struggled with housing affordability. It has implemented some of the strictest rules to curb foreign speculators and empty homes. The province is mulling a cooling-off period to allow buyers to change their minds after making an offer to purchase. B.C.
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