What To Expect on Offer Night: Seller Edition

Imagine a balmy spring evening in the GTA, sunlight dipping behind neighbouring rooftops as your REALTOR® gathers the offers on your kitchen island. This ritual—known across Ontario as “Offer Night”—is the climactic moment when buyers compete for the chance to call your house their home. But beneath the excitement lies strategy: timing your offer instructions, deciding whether to invite “highest and best” bids, and weighing not just price but deposit amounts, condition waivers, and closing flexibility. By understanding how Offer Night works and preparing in advance, you position yourself to harness competition and secure the best possible result for your sale.

What Is Offer Night?

The Multiple-Offer Landscape

In many Toronto and GTA neighbourhoods, properties are listed with an “offer night” clause to intentionally stimulate competition. Rather than considering offers on a first-come, first-serve basis, sellers set a specific date and time—often about one week after the listing goes live—for all bids to be reviewed simultaneously. This creates a blind‐bidding environment in which buyers know competing offers exist but not their terms, unless the seller opts for partial disclosure.

Why Sellers Use Offer Night

• Maximizing Sale Price: Under-pricing initially can spark a bidding war, often resulting in final sale prices well above market value.
  
  

• Creating Urgency: A set deadline compels buyers to act decisively and submit strong offers on time.
  
  

• Level Playing Field: Simultaneous submission ensures no buyer gains an unfair advantage by submitting early.
  
  

Preparing for Offer Night

Setting the Timeline

Work with your agent to pick an offer presentation date—commonly seven to ten days after your property hits the market—to give buyers time to secure financing and craft competitive bids. A clear deadline minimises confusion and helps maintain momentum.

Strategising Your Instructions

Decide in advance which approach suits your goals:

• Accept the Strongest Bid Immediately: Close swiftly on the top offer without further negotiation.
  
  

• Invite “Highest and Best” Offers: Ask all bidders to submit their final, improved offers, knowing some may withdraw rather than revise.
  
  

• Counter Only Top Offers: Engage in negotiation with one buyer at a time, keeping backup options on the table .
  
  

• Reject All Offers: If none meet your targets, you retain the right to decline every bid and re-list under new terms.
  
  

Document your chosen strategy in writing to ensure clarity for all parties and compliance with Ontario’s real-estate regulations.

Pricing to Attract Competition

Setting your list price slightly below market value can stimulate multiple offers and potentially push the final sale well above your asking price. Collaborate on a comprehensive comparable market analysis (CMA) that examines recent sales of similar homes in your neighbourhood—ideally within the past 90 to 180 days—to pinpoint a price that balances buyer interest with market realities.

Evaluating and Responding to Offers

Beyond the Dollar Figure

While the highest bid often draws attention, consider these critical offer components:

• Deposit Size: Larger deposits signal serious commitment and strengthen an offer.
  
  

• Waived Conditions: Buyers willing to forgo home-inspection or financing conditions reduce the risk of deal collapse.
  
  

• Closing Date Flexibility: Offers aligning with your possession needs minimise inconvenience and transaction costs.
  
  

Seller Response Options

• Accept As-Is: Sign off on the highest-quality offer and proceed directly to closing.
  
  

• Counter-Offer: Modify price, conditions, or closing date with the buyer you prefer; other offers remain pending.
  
  

• Request Highest and Best: Ask all bidders to up their game in one final round—recognizing some may drop out.
  
  

• Decline and Re-List: If market feedback suggests your price is off, adjust your strategy and try again.
  
  

Navigating Ontario’s Disclosure Rules

What You Can and Cannot Share

Under REBBA (Real Estate and Business Brokers Act), sellers may disclose:

• The highest price received
  
  

• Deposit amounts
  
  

• Closing dates
  
  

• Key transactional terms
  
  

However, personal or financial details—such as buyer identities or bank information—must remain confidential.

Transparency Trade-Offs

• Blind Bidding: Retains secrecy, often driving bids higher through uncertainty.
  
  

• Selective Disclosure: Sharing certain details can prompt more realistic offers but may curb aggressive bidding.
  
  

Expert Tips for Sellers

Conduct a Pre-Listing Inspection

Invest in a professional inspection before listing to identify and address defects, plan necessary repairs, and build buyer confidence—often accelerating the sale process and avoiding last-minute renegotiations.

Stage and Showcase Strategically

Enhance curb appeal with minor landscaping or paint touch-ups, and stage key rooms to highlight functionality and space; well-presented homes tend to attract stronger offers and sell faster.

Stay Informed on Market Trends

Monitor GTA market data—such as average sale prices and inventory levels—to adjust your strategy if conditions shift. For example, May 2025 saw a slight year-over-year price decrease yet month-over-month increase in the GTA, signalling nuanced buyer sentiment.

The Takeaway

Offer Night can feel intense, but with clear objectives, expert guidance, and meticulous preparation, you’ll harness competition to achieve a top-dollar sale.

The Johnson Team is a renowned name in the local real-estate market, known for their strong reputation, unparalleled market knowledge, and creative marketing strategies. As heads of one of the top-performing teams in the Greater Toronto Area, Jeff and Liz Johnson have assembled experts who prioritise individualised service and focus on clients’ needs, resulting in a growing base of repeat and referral business. Both experienced home sellers and buyers trust The Johnson Team to navigate the real-estate process, guaranteeing that their expectations are met and surpassed along the way.

Selling a house on your own can be overwhelming—let us handle the complexities of marketing, staging, negotiations, and paperwork for you. To start working with an agent right away, please contact us.