The Phenomenon of Blind Bidding in The Real Estate Market

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In this episode of the Real Estate and Mortgage Show, our host Walter Monteiro talks about the phenomenon of blind bidding in the real estate market. Today, Walter explains everything there is to know about blind bidding and how it impacts both the buyer and the seller.

Standout Quotes:

  • “You would strictly be putting yourself at a disadvantage, you'd be giving away all the cards, and you’d be given the advantage to the buyer.”
  • “Who wasn't being good to sellers, back then buyers, buyers were nasty.”

Key Takeaways:

  • Justin Trudeau has decided to enact laws to eliminate blind bidding in the real estate market.
  • Unreserved, an Ottawa startup, appears to have some kind of website with an open bidding platform, so you can buy real estate, you know, people put their homes on this platform.
  • All of a sudden buyers are demanding that they need protection from these greedy sellers.
  • Federal government has no jurisdiction over real estate. Real estate is mandated on a provincial level.

Episode Timeline:

[0:15] Eliminating Blind Bids

[0:54] Real Estate is shaking up

[1:58] Blind Bidding System

[2:52] What’s Unfair?

[3:29] Market in Real Estate

[4:11] Federal Government

[4:47] Reach Out to Walter

If you have questions about buying real estate and finance, Feel free to call Walter Monteiro at 5192400360 or visit https://waltermonteiro.com

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