A new piece of technology aims to allow investors to better hone in on the perfect property – and avoid bidding wars in the process.
Core Assets, a Toronto-based real estate brokerage, has announced the launch of a theme-based search tool that includes the industry’s first ever “avoid bidding wars” button.
“The button will give buyers the ability to search for properties that are no longer holding back offers,” Core Assets said in a release. “In Toronto’s heated real estate market, this button will be extremely useful for buyers tired of competing and will allow them to find properties that may be still on the market after an offer date has come to pass.”
Bidding wars have been a thorn in the side of investors for years, especially in hot markets where bully-bids – often a buyers last resort to avoid a bidding war – often push prices way above asking.
Those frustrations may soon be a thing of the past, however.
As it stands, Core is the only company offering such a tool. However, it may soon pick up steam as other real estate brokerages take note.
“Our goal is to give our clients and the public a sense of transparency in the market,” Adam Brind, broker of record at Core Assets said.