From the blog...

WHAT IS A BULLY OFFER?

Posted on: October 18th, 2019 by Chris Scott

What is a bully offer?

Every day I look through the hot sheet from the Ottawa Real Estate board. It is a list of all new properties to the market. One thing that almost every one of them has in common is that they were holding offers. This means the seller is waiting till a certain date and time to review offers. The idea is that they will have lots of showings between the list date and offer date. The hope, of course, being that the seller will have multiple offers to choose from. There are some buyers who do not want to wait until the offer date. That is where the term bully offer comes from.

The bully offer:

I prefer the term pre-emptive offer. Essentially the buyer makes an offer right away and before pre-determine offer presentation. The offer is usually at a premium price and often with no conditions. Example: House is listed for $400,000 and the buyer makes an offer for $450,000 on day 1. This would get the seller’s attention right?! The idea is to make the seller think twice about waiting until their pre-determined date.

A few other things to consider:

The Realtor is often in a tough position here as well. They have a form 244 signed with their clients explaining that there is no conveyance of offers until the specific date. If the Realtor then presents this offer it is in breach of the pre-signed paperwork. Further, other agents who showed the property or have scheduled showings on the property need to be kept in the loop on any change of directions. Our team has been on both ends of bully offers and there is a lot of things to navigate here for sure.

Tags: Bully, Bully Offer, Competition, For Sale, Holding Offers, Listings, New Listings, Offers, OREB, Ottawa, Presentation, Properties, Property, Real Estate, Real Estate Agent, realtor, Selling Ottawa

    
 
 
        
   Anny Metivier 
 2024-08-13
 
 
  Over the years, with multiple military moves, we’ve had the opportunity to work with many real estate agents, and we can confidently say that not all are created equal. Chris, by far, has been the most trustworthy and easiest real estate agent we’ve had the pleasure to work with.
  
 
       
   Jake Moffat 
 2024-06-07
 
 
  Colin has been the best realtor to work with and helped us buy a great house in the perfect neighborhood. Colin and the rest of the team at Chris Scott were incredibly helpful the whole way and always available to answer questions, show us houses at a time that was convenient for us and were just generally professional and friendly during the whole process. We will recommend Colin and the team to our friends and family.
  
 
       
   Faith Woodley 
 2024-03-13
 
 
  I was a co-Executrix of an estate, and we had a condo that we had to sell for the estate.  In order to get the property ready for sale, we had to have the over 5,000 square foot condo painted and the carpets replaced.  Since the property was empty, Chris recommended a home stager that he uses on properties that require these services, and she did a fantastic job of staging the condo. It took the condo to the next level. The condo sold for a phenomenal price, and we were very happy with Chris Scott and his abilities.  He always gives over 100 percent to get the job done!  I recommend him to anyone that requires the services of a great real estate agent.
  
 
       
   Emily Bozanich 
 2023-10-07
 
 
  We worked with Rachel and she was beyond diligent. She is so organised and meticulous with details, it really helps when buying a home. She even agreed to do a virtual walk through for the home we ended up buying because we weren’t going to get there ourselves prior to offers being reviewed. She was also great with recommending areas to consider and avoid. Highly recommend.
  
 
       
   Cy Dixon 
 2023-10-06
 
 
  Rachel was amazing. She helped me find the perfect home for me and my son during a challenging time in my life. She was extremely patient and empathetic, professional and knowledgeable. I highly recommend her. No one will work harder for you than Rachel.
  
 
       
   Jeff C 
 2023-10-06
 
 
  Awesome realtor team very helpful and knowledgeable
  
 
       
   Nathalie Groupe Godin 
 2023-10-06
 
 
  Great service. Very knowledgeable. Super helpful. I’d use this team again.
  
 
       
   D Hynders 
 2023-10-05
 
 
  I recently used Chris' team to purchase a new house and I have to say that it was a pleasure to work with them.
  
 
       
   Megan Bixby 
 2023-10-05
 
 
  My husband and I purchased a house in the surrounding Ottawa area with the assistance of Colin from this group of individuals. We unfortunately were left with no choice but to purchase a home sight unseen due to our work circumstances. We originally considered not purchasing because of this.
We deliberated and chose to purchase a home after participating in FaceTime showings and we could not have been more satisfied. Colin was objective, professional, calm, informative, and realistic. He listened to our needs and helped us choose our home. The fact that we were pleasantly surprised, and a year later remain pleased as punch, says everything about how talented this company is. Will, without a doubt, use this company when we leave Ottawa.
  
 
       
   André Desjardins 
 2023-10-04
 
 
  We worked with Chris to find a home back in 2011 that would suit our desire to be close to work. He was nothing but professional and courteous! Listening to our needs and showing us what we were looking for. Years later, when we thought about down sizing and finding a renovated home, he took us around to see some in the neighborhood. He always open to helping us out in our searches

From the blog...

WHAT IS A BULLY OFFER?