Jun 8–12

Mon, Jun 8

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**HOOK**

Multiple offers are still very much a thing in Ontario. They were very common a few years ago, and while the market has softened, there are still plenty of properties — especially in Toronto, where buyers are still dealing with competing offer situations.

Now, I've spent my career first as a Realtor and now as a real estate lawyer, and there are always questions about the legal requirements and obligations that exist when buyers are competing in a multiple offer situation.

If you're going through the process right now, or you've ever lost a bidding war and wondered what was actually going on behind the scenes — this video is for you. Because there is specific information you are legally entitled to have.

**INTRO**

My name is Zachary Soccio-Marandola. I'm a lawyer here in Toronto. And I help people like you close real estate deals every single day. If you enjoy this type of content, make sure you subscribe and join our community. And if you have a closing coming up, we've built the most transparent legal fee calculator online — it gives you a full breakdown of every dollar you'll spend and even calculates closing costs like land transfer tax and title insurance. That's linked in the description below.

**The Number of Competing Offers**

So let's start with the first and most basic requirement.

Under Section 22.7 of the General Regulations in Ontario's Trust in Real Estate Services Act — that's the Act where most of the guiding legislation comes from for Realtors in Ontario — if a listing brokerage receives competing written offers, they are legally required to communicate the number of those offers to every person who is making one.

In plain English — if you are sitting at the table making an offer, your agent must be told how many other offers there are on that property. And that information has to be passed along to you.

Now, this sounds simple. But think about how many buyers have gone into offer night with no idea whether they were competing against one other offer or six. That uncertainty changes everything — your price, your conditions, your strategy.

There is a requirement that says you don't have to guess. The listing agent is required to tell every buyer's agent the number of competing offers on that property. That is a legal obligation for Realtors, not a courtesy.

Now, the most common follow-up question I get on this point is: what happens if the number changes?

You submitted your offer when there were two competing offers and a six o'clock deadline. As you get closer to that time, the listing agent comes back and says — actually, there are now six offers on the table. Does that entitle you to go back and revise your offer?

There is no legal entitlement for an offer revision or improvement. Any practice of that is merely a courtesy of the seller. While it may be in the seller's best interest to allow for it, there are situations where it does not happen and buyers are left frustrated.

Which means you need to either put your best offer forward on submission, or be strategic about your delivery of your offer until you know the final number — and confirm if there's any potential for more offers. Remember, offers are still subject to irrevocability, meaning you can't withdraw them and they remain open for acceptance until the time you've indicated on the offer.

**The Commission Conflict Disclosure**

Now, this one is one that doesn't get talked about enough.

Under Section 23(4) of those regulations, if a brokerage has entered into a representation agreement with a seller, and that agreement contains terms around remuneration — meaning commission — that could affect which offer gets accepted, the brokerage must disclose the existence of those terms, and the details of those terms, to any person who makes a written offer. And that disclosure has to happen as soon as possible after the offer is made and before any offer is accepted.

So what does that actually mean in practice?

Here's the scenario. The listing agent is also representing one of the buyers. That's called multiple representation. Now, it's possible that the brokerage has a deal with the seller where their commission changes depending on which offer gets accepted. A common example is that the listing brokerage may reduce their commission from the originally agreed total if their own buyer's offer is accepted.

The legislation here says every other buyer competing on that property is entitled to know that it exists, and the details of it.

And this is done to even the playing field. For example, if you offered $900,000 and that other offer also came in at $900,000 — but it resulted in one percent less commission for the seller — they would be more inclined to accept the other offer, even though you both offered to pay the same amount of money.

You need to know that exists in order to adjust your offer accordingly. And that can come in the form of either your Realtor reducing their commission, or you increasing your price to make it comparable.

So if you are ever in a multiple offer situation and you find out the listing agent is also representing one of the buyers, your agent should be proactive and inquire whether any commission arrangements exist that need to be disclosed. That is your right.

**The Content Disclosure — and the Clause That Kills It**

Now, this third one is where it gets really interesting.

Under Section 22.7(1)(b), a seller has the option — if they choose — to direct their listing agent to share the substance of the competing offers with every buyer who is making one.

So in theory, a seller could say: I want everyone to know what's on the table. Share the prices of all offers — essentially creating an open bidding situation. And the listing agent would be required to do exactly that.

The Act even says the seller can choose to share only parts of the offers — not necessarily everything. However, any information that would identify the person making the offer cannot be shared.

Now, this option has been around for some time, but at least to my knowledge, it is very rarely used.

In fact, I will often see a clause in offers that says: if the seller discloses the whole or any part of the details or content of this offer prior to acceptance, the buyer has the right to immediately revoke their offer and have their deposit returned in full.

It looks like this.

This is the buyer's way of essentially opting out of that situation, if they want their offer to remain private.

When the new legislation for Realtors was updated in the last few years, we were coming off the craziness of multiple offers, and transparent bidding was something that was seriously considered.

It's just something that, in practice, seems to have not taken off.

**SUMMARY**

So to bring it all together — in a multiple offer situation in Ontario, you are legally entitled to know the number of competing offers, you are entitled to know if a commission conflict exists that could affect which offer gets accepted, and while sellers technically have the right to share offer details, that right is rarely used and is often contractually removed by the time offers hit the table. Know your rights before you compete.

**OUTRO**

If you're enjoying these behind the scenes, real estate law videos, make sure you subscribe to the channel — I post a new video every week. And if you're a Realtor, I also send a weekly update about different legal situations that come up in our closings. That's our Realtor Newsletter and you can subscribe to it with the link down in the description. Thanks for watching.

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Multiple offer situations haven't gone away in Ontario — and if you're a buyer competing right now, there are specific things you are legally entitled to know before you put your offer on the table. This video breaks down what Ontario's Trust in Real Estate Services Act actually requires listing agents to disclose in a competing offer situation: the number of offers on the property, any commission arrangements that could influence which offer gets accepted, and the seller's rarely-used right to share offer details openly. Whether you're a first-time buyer or you've lost a bidding war before and wondered what was really happening, this is the legal framework behind it.

The video covers three distinct obligations — each grounded in the actual regulations — including the commission conflict scenario that almost never gets talked about, and the buyer clause that effectively shuts down transparent bidding before it starts. If you're heading into a multiple offer situation in Ontario, or you're a Realtor advising buyers who are, this is the behind-the-scenes picture you need.

Video Chapters

00:00 Introduction
00:59 Number of Competing Offers
02:46 Commission Conflict Disclosure
04:32 Seller's Right to Share Offer Details
05:50 Summary

*This video is for general informational purposes only and does not constitute legal advice. Watching this video does not create a lawyer–client relationship. Real estate laws and procedures can vary depending on the facts of each case and the jurisdiction. Always consult with a qualified real estate lawyer in your area before relying on or acting upon any of the information discussed in this video.*

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