THE OFFER DATE
A lot has happened over the past month. We’ve seen a rate drop, a new Liberal leader and Prime Minister, a federal election called, and more rumblings on global trade. But rather than focus on politics and the global economy, I want to return to the nuts and bolts of real estate—specifically, the strategy around setting an offer date when bringing a listing to market.
This is a topic we discuss often, and the truth is, there’s no universal answer. We may see a new listing come to market just under the $2M mark and find ourselves asking: what’s the seller’s real expectation? Are they hoping to drive the price up in a competitive bidding environment, or are they simply testing the upper boundaries of value and would be satisfied with 95% of asking?
It’s a fair question, especially in today’s market. And the honest answer? It depends.
Take, for example, an investor-grade condo in downtown Toronto. Right now, that might not be the ideal candidate for a hold-back offer strategy in hopes of raising the price. But that doesn’t mean the strategy itself is flawed…it just means it’s situational.
Recently, I came across a letter written by an agent and shared with all cooperating brokers. It made a compelling case for holding offers, even in situations where multiple offers may not be expected. I’ll paraphrase some of the points:
It gives the seller time to gather perspective and supporting data before reviewing any offers.
It allows potential buyers time to view the home, review documentation, and organize financing.
It encourages thoughtful offers—buyers have more time to reflect, not rush.
Buyers come more prepared. They’re more likely to have their finances in order and submit cleaner offers with fewer conditions.
For sales involving multiple decision makers—such as older sellers, family trustees, or those needing legal guidance—holding offers ensures all parties are ready and aligned. It reduces surprises and leads to smoother negotiations.
Even if no offer comes in on offer night, the seller walks away with greater perspective and is better prepared for next steps.
Most importantly, it fosters a more transparent and organized process for everyone involved.
This process differs from holding offers for bidding wars. For example, you could price a home at $2.2M or $2.3M—what you believe to be fair market value—and still hold offers to allow the process to unfold in an orderly, strategic way. In these cases, strong activity or interest may drive the price higher—but that isn’t always the expectation. Sometimes, it’s just about giving the process time to play out properly.
It also serves as an important reminder to buyers: don’t automatically assume that a hold-back means the seller is trying to trigger a bidding war. In many cases, they simply want a thoughtful, organized offer process for all the reasons outlined above.
Selling strategy is never a one-size-fits-all approach. There are many reasons a seller and their agent might choose a particular approach. Context and timing matters, as well as understanding the psychology of buyers and the dynamics of a shifting market.
If you’re thinking about selling or buying and want to discuss the right strategy for you and your family, I invite you to connect with me or anyone from our sales team. We’ve been in business since 1957 and can help guide you through any market condition with clarity and confidence.
