The Buckingham Condo . Chinese women still failed to bid six times to buy a house. Due to the local purchase of second-hand housing, many homeowners use closed-door bidding, such as multiple buyers bid at the same time.Please Visit: The Buckingham Condo to Get Your VVIP Registration Today!
It is difficult to estimate the price submitted by the other party, and buyers often fail again and again if they want to bid successfully. Some buyers and real estate agents have urged that the existing method should be changed so that the bidding can be transparent rather than blindly guessed.
After getting pregnant, the buyer, Miss Grace Choi, and her husband started looking for a house in Toronto in January, but failed to outbid other prospective buyers after several bids over the past few months, according to the Canadian Broadcasting Corporation (CBC). She says that without realizing the psychological tactics of the bidding process, this kind of thinking game is more difficult than imagined.
Miss Cai said that she had already bid for six houses, but she had no idea how high or low the price offered by the seller. This traditional bidding method lacks transparency and can only assume what the other party will do, which is basically a blind bid. It is difficult to guess at all what price will be put forward to succeed.
In most of the buying and selling of second-hand buildings, homeowners choose to bid behind closed doors, and buyers do not know the prices offered by other competitors. Philip Kocev, a real estate agent, said he saw more and more buyers getting tired of this traditional way of trading because they did not know what price they should offer compared with other competing buyers. This led to chaos and mistrust of the industry, with multiple bids in almost all unsold buildings, even if not a full-blown bidding war.
Mr Gao believes that the bidding process should be more transparent and that his company proposes to allow brokers to disclose the highest offer to competing buyers, including the terms of the agreement, such as transaction dates and conditions, which real estate agents cannot do at the moment. This method creates opportunities for other buyers to bid or leave.