In many demand Toronto Real Estate areas, homes are sold in bidding wars above asking price. These bidding wars have purchasers lose out many times on homes they really wanted but eventually they succeed on other homes.

Toronto’s multiple bidding process ends up obtaining the best price for the vendor by a purchaser who is willing to pay top dollar for the property.

Most Toronto Real Estate agents have been there, as one of many agents bidding on behalf of their client. Eventually the process comes down to 2 or 3 of the best offers over asking price and a final decision is made by the vendor on what offer he will accept.

Home hunting in Toronto is going on all the time and when a property is attractive to several buyers at the same time, in the same location, the price goes up and purchasers begin to add more, to the asking price.

When ten Real Estate Agents are bidding on one property, only one agent is successful and the other nine have to start again. So much for maximizing agent’s commissions.

As far as transparency I have been on both sides of the table and presenting an offer in person with your client, its becomes very obvious who is bidding.

Just recently a demand location at the Beaches,Munro Park Ave., was sold for $605,000 over asking price. Originally listed for $1,295,000 it was finally sold for $1,900,000

Similar homes and locations with homes and condos for sale in the Toronto area can be found on my Toronto Real Estate website.