Toronto and Vancouver agents say buyer “love letters” have largely lost their edge because sellers now focus on the highest bid, not emotional appeals.
Fewer competing offers are driving that shift: Armstrong said the old market could bring 40 showings and 15 offers, while condos now see almost no multiple-offer situations.
One Toronto sale last month underscored the change — sellers chose the top bid even after buyers said they planned to tear down the home they had owned for 45 years.
The softer backdrop is broad enough that the Canadian Real Estate Association cut its 2026 home-sales forecast again last month, citing a weak first half and a delayed recovery.