Offer presentation오퍼 제출과 제시 (오퍼 날짜)

What is it?

Offer presentation is the step where the seller’s agent passes a buyer’s offer (a written proposal to buy) to the seller, and the seller reviews it. In the past the buyer’s agent often presented the offer in person; today offers are usually sent by email. The seller’s brokerage tells you how.

In Ontario only written offers count. The law (TRESA section 35.1) says an agent acting for a buyer may present an offer only in writing, and may not tell anyone that an offer exists unless it is in writing.

What does "holding offers" or "offer date" mean?

When a listing says "Offers will be reviewed on Tuesday at 7 p.m." or "Holding offers until …", the seller has decided not to look at offers before that date and time. RECO (the regulator of real estate agents in Ontario) calls this a "delayed offer presentation process".

The idea is to let more buyers see the home over several days and bring in competing offers. RECO also lists the risks: motivated buyers who do not want to wait may walk away, some buyers avoid competing situations, and if no offers come in on the date the home can look overpriced.

A seller can use this strategy only with written direction to the agent, because the agent’s normal duty is to pass every written offer on as soon as it arrives. The direction must also say how pre-emptive (bully) offers will be handled.

The agent’s duties

• Pass every written offer to the client as soon as possible, no matter who made it, what it says or how the commission is arranged. The only exception is the client’s written direction.
• Have a method so that if the agent is unavailable, someone else receives the offer and it still reaches the client right away.
• The same rule applies to written amendments to offers, waivers of conditions and assignment documents.
• If there are competing offers, tell every buyer who offered how many there are. Contents may be shared only on the seller’s written direction.
• If the seller’s brokerage is also helping a buyer, tell every other buyer who offered, before any offer is accepted.
• If the commission terms between the seller and the brokerage could affect which offer is accepted, disclose them to every buyer who offers, before acceptance.
• The seller’s brokerage must keep copies of all written offers it receives.

Step by step

1. Read the listing: the offer date and time, how to submit (an email address, for example), and whether the seller will look at pre-emptive offers.
2. Register the offer: your agent tells the seller’s brokerage you will be offering. In RECO’s words, to register an offer means the buyer or their representative has confirmed with the listing brokerage that they have an offer to submit.
3. Write the offer: price, deposit, conditions, included items, closing date and the irrevocable time, then sign. Offer day is tight, so have the draft ready the day before.
4. Submit it to the seller’s brokerage by the deadline. The brokerage tells you how many offers there are.
5. Presentation and review: the seller goes through the offers with their agent. They can accept one, sign one back with changes, ask some buyers to resubmit, or reject them all.
6. Result: if your offer is accepted, you receive a copy of the agreement signed by both sides. The other offers simply expire when their irrevocable times pass.

What a buyer can ask for

• How many offers are registered, and how many written offers have been submitted. The number of submitted written offers must be told to everyone who offered.
• Whether the seller plans to share offer contents. They do not have to answer, and it can change.
• Whether the seller will review pre-emptive offers. If so, make sure you are recorded as an interested party so you get notified.
• How and by when to submit, and when the seller expects to respond, so you can set your irrevocable time to match.
• Whether the seller’s brokerage is also helping a buyer (multiple representation).
• Written notice if the offer date or process changes. Any change in direction must be sent in writing to everyone who showed interest.

If the offer date changes

The seller can change their mind at any time, but only with a new written direction. For example, a seller who said "no pre-emptive offers" and then wants to see one needs a new direction.

When the direction changes, the seller’s agent must immediately do two things: update the listing notes and online platforms to match, and notify in writing everyone who showed interest in the home (booked a showing, viewed it, said they would offer, or submitted an offer). Text messages and email count as written notice.

RECO has published discipline cases where agents who skipped these steps and sold early were fined $10,000 and $14,000.

If you are the seller

Whether to set an offer date depends on the home and the market. Your agent must explain the possible benefits (more exposure, competing offers, better price and terms) and the risks (losing buyers who will not wait, buyers who dislike competing processes, looking overpriced if no offers come), and must tell you that no strategy guarantees competing offers or the highest price.

Put the date and time, how pre-emptive offers will be handled and whether contents will be shared clearly in the written direction. That lets the agent run the process with confidence and avoids disputes later.

Example