Published 2 November 2026 · By Jatin Dua, Broker of Record, RE/MAX Quantum Realty
Accept a bully offer only if it is firm or close to firm, beats what recent sales support, and your agent has notified other interested buyers in writing. In October 2026 the average GTA home sold for about 97% of list price, so a strong early offer is often worth taking; semis, at 101%, are the main exception.
This guide is for GTA sellers who have set an offer date and just received, or expect, an early “bully” offer. You will get the rules your agent must follow, what the October 2026 sales data says about competition, and a simple test for deciding whether to accept, counter or wait.
What is a bully offer in real estate?
A bully offer, also called a pre-emptive offer, is an offer sent in before the seller’s advertised offer date. The buyer wants you to deal with them now, often with a short deadline, before other buyers can compete on offer night.
Bully offers are legal in Ontario. They are not a trick and not a sign that something is wrong with your home. They are simply a negotiating tactic, and you are free to accept, counter, or ignore them. The rules on how competing offers are handled are covered in detail in bully offers, competing offers and TRESA. This post focuses on the decision in front of you.
What rules must your agent follow when a bully offer arrives?
The Real Estate Council of Ontario (RECO) regulates agents under the Trust in Real Estate Services Act (TRESA). Its bulletin on pre-emptive offers, in effect since December 1, 2023, sets out what has to happen.
| Situation | What the rules require |
|---|---|
| Before any bully offer arrives | You must give your agent clear, detailed written direction on how to handle pre-emptive offers. A one-line note on the listing is not enough. |
| Changing your instructions | Only by signing a new written direction, after your agent explains the risks. |
| You decide to review a bully offer | Your agent must take reasonable steps to tell everyone who has shown interest, in writing and as soon as possible, that a pre-emptive offer was received and give the new date and time for offers. |
| Competing written offers | Every buyer who has submitted a written offer must be told how many competing offers there are. |
| Offer contents | Price and terms stay confidential unless you give clear written direction to share them. Buyers’ personal information is never shared. |
| Your agent also represents the bully buyer | That is multiple representation. Other interested buyers must be told promptly, and it needs every client’s written consent. |
Source: RECO Bulletin 4.3, Managing a pre-emptive offer; RECO, Dealing with competing offers; RECO, Competing offers (buyers).
The key practical point: if you choose to look at a bully offer, your agent has to give the other interested buyers a fair chance to come in early. You cannot quietly take the first offer while everyone else is still waiting for offer night.
How often do GTA homes sell over asking going into 2027?
A bully offer only makes sense if the buyer fears a bidding war. The data shows that fear is real for some home types and not for others. TRREB reports the sale-to-list ratio as the average selling price divided by the average list price.
| Home type (all TRREB areas) | Sale-to-list, April 2026 | Sale-to-list, October 2026 | Avg listing days on market, October 2026 |
|---|---|---|---|
| Detached | 97% | 97% | 29 |
| Semi-detached | 102% | 101% | 22 |
| Freehold townhouse (att/row) | 100% | 99% | 28 |
| Condo townhouse | 99% | 97% | 38 |
| Condo apartment | 96% | 97% | 38 |
| All home types | 98% | 97% | 31 |
Source: TRREB Market Watch, April 2026 and October 2026. Ratios are averages across all sales in each group, not a typical home.
In the City of Toronto, semis sold at 102% of list on average in October 2026, with 18 days on market. Detached homes in Toronto sold at 97% after 24 days, and condo apartments at 97% after 36 days. Across the GTA there were about 4.6 months of inventory in October 2026, from 3.6 in Durham Region to 5.0 in York Region.
So a bully offer on a well-priced semi in a busy Toronto district is a different decision from a bully offer on a condo apartment. For semis and freehold towns, offer night can still produce competition. For most detached homes and condos in late 2026, buyers had time and choice.
When should you accept a bully offer?
Use this checklist. If most answers are yes, a bully offer deserves serious attention.
- Is the price above what recent sales support? Compare it with sold prices, not list prices, for similar homes in the last 60 to 90 days.
- Is it firm, or close to firm? An offer with no financing or inspection condition is worth more than a higher conditional offer.
- Is the deposit strong? A large deposit, paid promptly, shows commitment.
- Does the closing date work for you? A good price with the wrong closing date can cost you bridge financing or a second move.
- Is interest weaker than you hoped? If showings and requests for documents are light, offer night may not deliver a crowd.
- Is the market cooling? When rates rise, as they did on October 28, 2026, when the Bank of Canada raised its policy rate to 2.50%, a buyer in hand can be worth more than a hypothetical one.
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When should you turn down a bully offer and wait for offer night?
- You have many showings booked, several buyers have asked for the home inspection report, or agents are telling your agent their clients plan to offer.
- Your home is in a segment that is still selling over list, such as Toronto semis.
- The offer is conditional, has a small deposit or comes with a very short deadline designed to rush you.
- The listing has been live for only a day or two, so most buyers have not seen it yet.
Turning it down does not mean losing that buyer. Many come back on offer night, sometimes with a better offer, because they already know they want the home. If you are unsure which approach suits your home, compare holding offers or accepting offers anytime.
How do you respond to a bully offer without losing the buyer?
You do not have to say yes or no. You have four options, the same ones RECO lists for any offer: accept it, negotiate with that buyer, set it aside, or reject it. In practice the strongest move is often a counter-offer.
- Counter on price. If the buyer wants certainty, a counter at a number that clears your target can still be accepted.
- Ask for better terms. A bigger deposit, no conditions or a closing date that suits you.
- Set your own deadline. Give a clear time for the counter to be accepted, and make sure the other interested buyers have been told in writing.
- Think about disclosure. If you want other buyers to know details of the offer, that requires your written direction. RECO notes that sharing offer content can make some buyers walk away. My notes on open offers in Ontario explain the trade-off.
Be careful with escalation clauses that arrive with a bully offer. They can look generous and still leave you guessing. See escalation clauses in Ontario offers.
What does the 2026 market say about offer nights in 2027?
GTA buyers had more choice in 2026 than in the peak years. TRREB reported 5,603 sales in October 2026, down 7.9% from a year earlier, and 25,098 active listings at month end. The MLS Home Price Index composite benchmark was down 4.3% year over year, and the average price was $1,024,108, down 2.7%.
TRREB’s president said a Canada–U.S. trade deal and an end to the Middle East conflict could renew buyer interest as the market moves into 2027. That is a possibility, not a forecast you should price on. Until competition comes back across the board, a listing with an offer date is a test: it works when the price is right and the home is in demand, and it backfires when buyers feel they can wait.
If you list with an offer date in 2027 and nobody shows up, you will usually relist or take offers anytime. Plan that fallback with your agent before you list, not after.
I tell sellers to decide their “walk-away” number before the listing goes live and put their bully instructions in writing then, not at 9 p.m. on a Tuesday with a deadline ticking. A bully offer that clears that number, is firm and has the right closing date is usually a good outcome in a market where most homes sell below list. A bully offer that only beats the list price on a home that was priced low to create a bidding war is a different story. The real question is never “is this offer good” but “is it better than what offer night is likely to produce”.
What are the risks of accepting a bully offer?
The main risk is leaving money on the table. If buyers were lining up, a bidding war could have pushed the price higher. Other risks are quieter:
- Financing gaps. If the buyer paid above what a lender’s appraisal supports, a financed buyer must cover the difference with cash. A firm offer protects you on paper, but a buyer who cannot close still creates a problem.
- Remorse. A rushed buyer may regret it. Read can a buyer back out of an accepted offer in Ontario to understand what a firm deal means.
- Bad feeling with other buyers. If the notice rules are not followed, other buyers can complain to RECO. Your agent should keep written records of every direction and notice.
Do not let a short deadline push you into a decision without seeing comparable sales and reading every condition. A buyer who gives you two hours to decide is managing their own risk, not yours. If your agent cannot show you, in writing, why the price beats recent sales, slow down.
Should buyers make a bully offer in 2027?
Sometimes. A bully offer works best for a buyer when the home is in a tight segment, such as a semi or freehold town in a busy Toronto district, and the buyer has done their homework early: financing approved, inspection done or waived with care, and a deposit ready. For most condos and many detached homes in late 2026, the data suggests buyers had time to use conditions and negotiate instead. Paying a premium to avoid competition only makes sense when competition is likely.
What to do next
- Pull recent sold prices for homes like yours and agree on a realistic value range with your agent.
- Decide your bully-offer rules in writing before listing: the minimum price, terms and deadline that would make you look early.
- Check how competitive your home type is right now using the latest TRREB Market Watch.
- Plan your fallback if offer night is quiet, including a relist or a move to taking offers anytime.
- Book a call with me to set your offer strategy and run the numbers on your home.
Need help with this? Talk to me.
I’m Jatin Dua, Broker of Record at RE/MAX Quantum Realty, and I’m the best agent to do this kind of work for you in Toronto and across the GTA. Over $100 million in GTA sales and 100+ families helped sell. Feel free to contact me any time: call or text 833-330-1925 or email [email protected].
Frequently asked questions
Should I accept a bully offer on my house?
Accept it if it is firm or close to firm, beats recent comparable sales, and has terms you like. In October 2026 most GTA homes sold for about 97% of list price, so a strong early offer can beat offer night. Semis, which averaged 101% of list, are the type most likely to draw competition worth waiting for.
Is a bully offer legal in Ontario?
Yes. Pre-emptive or bully offers are legal in Ontario. Under RECO’s rules, the seller must give written direction on how they are handled, and if the seller decides to review one, the agent must notify everyone who has shown interest in writing, as soon as possible, with the new offer date and time.
What is a pre-emptive offer in Toronto real estate?
A pre-emptive offer is an offer made before the seller’s advertised offer date, usually with a short deadline, to avoid a bidding war. It is the same thing as a bully offer. In Toronto it is most common on homes in high demand, such as semis, which sold at 102% of list on average in October 2026.
Do other buyers have to be told about a bully offer?
Yes, if the seller decides to review it. RECO’s bulletin on pre-emptive offers requires the listing agent to take reasonable steps to tell everyone who has shown interest, in writing, that a pre-emptive offer was received and when offers will now be reviewed. The offer’s price and terms stay confidential unless the seller directs otherwise.
Can I counter a bully offer?
Yes. An Ontario seller can accept, counter, set aside or reject any offer, including a bully offer. A counter on price, deposit, conditions or closing date is common. Your agent must still follow RECO’s notice rules for other interested buyers, so set a clear deadline that leaves time for that in 2027.
How much over asking is a bully offer in the GTA?
There is no set amount. A bully offer should be measured against recent sold prices for similar homes, not the list price, because many sellers list low to attract offers. In October 2026, the GTA average sale-to-list ratio was 97%, and 101% for semis, according to TRREB’s Market Watch.
Should I make a bully offer as a buyer in 2027?
Only when competition is likely. A bully offer makes sense for a well-priced semi or freehold town in a busy Toronto district, where homes still sold above list in 2026. For most condos and many detached homes, GTA buyers had time to negotiate and use conditions, so paying a premium to skip offer night rarely made sense.
What happens if I refuse a bully offer and get no offers on offer night?
You can relist, lower the price, or switch to taking offers anytime, and the bully buyer may still come back. Plan that fallback with your agent before you list. In October 2026, GTA homes averaged 31 listing days on market and 49 property days, which counts relists, according to TRREB.
Sources
- RECO Bulletin 4.3: Managing a pre-emptive offer
- RECO: Dealing with competing offers (sellers)
- RECO: Competing offers (buyers)
- RECO: Understanding multiple representation
- TRREB Market Watch, October 2026 (PDF)
- TRREB Market Watch, April 2026 (PDF)
- TRREB news release, October 2026 market statistics (4 November 2026)
- Bank of Canada: Policy interest rate announcement, 28 October 2026
Related reading
- Seller Closing Costs in Ontario for 2027: Every Fee Before You Get Paid
- How to Sell a House in Toronto, Step by Step (2027)
- Closing Costs on a New Build in Ontario: What Builders Add
- How Much Is My House Worth in Caledon? (2027)
About the author — Jatin Dua, Toronto and GTA real estate broker
I am Jatin Dua, Broker of Record and co-founder of RE/MAX Quantum Realty Inc., Brokerage, Unit 101, 799 The Queensway, Toronto. I work with buyers and sellers across Toronto and the GTA and have helped more than 100 families sell. Four-plus years of active GTA transactions and over $100 million in sales volume.
Reach me at [email protected] or 833-330-1925, or book a call.