Bidding Wars in Manitoba and What Buyers and Sellers Need to Know

In today’s market, bidding wars are no longer rare—they’re expected.

When demand outweighs supply, multiple buyers can find themselves competing for the same property.

For sellers, this can be an opportunity. For buyers, it can feel overwhelming and high-stakes.

Bidding wars in Manitoba have clear rules, responsibilities and strategies that shape how they unfold.

Understanding how the process works—and how to navigate it—can make the difference between a missed opportunity and a successful sale.

What Is a Bidding War?

A bidding war (or multiple offer situation) happens when more than one buyer submits an offer on the same property at the same time.

It often results in a sale price above the listing price, sometimes significantly so.

This typically occurs in,

• A Seller’s Market (low inventory, demand outweighs supply)
• Desirable neighbourhoods
• Well-priced or well-presented homes
• When a home checks most boxes — layout, finishes, location, price 
• Spring and early summer when there are typically more buyer's

When this happens, buyers are competing not just on price—but on terms, conditions and overall strength of their offer.

The Rules of Bidding Wars in Manitoba

1. All Offers Must Be in Writing

In Manitoba, real estate professionals are required to present all offers, counteroffers and acceptances in writing to reduce misunderstandings and ensure transparency.

2. Buyers Must Be Notified of Competition

Once there are multiple offers,

• Buyers through their agents must be informed they are in competition
• The number of offers may be disclosed

3. Offer Details Remain Confidential

Agents cannot disclose the contents of competing offers—including price, terms or conditions to other agents in the bidding war situation. 

If an agent is in a Joint Representation sitution, meaning they are representing the buyer and the seller, they will be aware of the competing offers but must advise and work with that buyer on price at the time to revise the offer, at the same time others are doing so, or may request another agent within that salesperson's brokerage to advise the client on their behalf.   

This means,

• No “you’re close to the highest offer”
• No revealing competing prices
• No guidance that could unfairly influence bidding

4. Buyers May Get a Chance to Improve Their Offer

If you are in a multiple offer situation, you generally have four choices,

• Increase your offer
• Leave your offer as is
• Withdraw your offer
• Reconsider the terms, conditions and items included or excluded from your offer

But this is not guaranteed—it’s entirely up to the seller.

5. REALTORS® Must Follow Strict Ethical Standards

All Real Estate Agents in Manitoba must follow the CREA Code of Ethics, which requires them to,

• Act in their client’s best interest
• Be honest and transparent
• Avoid misleading practices

For example, intentionally underpricing a home to create a bidding war can be considered misleading under provincial legislation.

The Role of REALTORS® in a Bidding War

For Sellers

The listing agent,

• Manages offer presentation 
• Communicates with all buyer agents
• Ensures rules and timelines are followed
• Advises on which offer is strongest (not just highest)

All offers must be presented individually and in a sealed envelope.

They must also,

• Keep a record of all offers
• Present every offer to the seller
• Maintain fairness and confidentiality

For Buyers

The buyer’s agent,

• Prepares and submits the offer
• Advises on pricing strategy
• Helps structure terms to be competitive
• Guides clients through fast decision-making

In competitive situations, buyers rely heavily on their agent to balance competitiveness with protection.

What Sellers Can Expect

For sellers, a bidding war can be both exciting and strategic.

You may,

• Receive multiple offers at once on the offer date
• Have buyers competing on price and conditions
• Be able to choose the best overall offer—not just the highest

Key factors sellers consider,

• Price
• Conditions (financing, inspection, etc.)
• Deposit amount
• Possession date
• Overall certainty of closing

In many cases, the strongest offer is the one that feels most secure and least risky.

What Buyers Can Expect

For buyers, bidding wars can be emotional and fast-paced.

Common challenges include,

• Pressure to increase price quickly
• Deciding whether to remove conditions
• Fear of overpaying or missing out

It’s important to remember,

• The highest offer doesn’t always win
• A well-structured offer can be just as powerful
• Understand market value
• Avoid emotional overspending
• Don’t waive critical protections unless advised to

And most importantly—you should never go beyond what you’re comfortable with financially.

Strategies to Win a Bidding War 

1. Get Pre-Approved

A strong offer starts before you even begin shopping. Always, have a letter of Mortgage approval and do not make changes to your financial situation. 

Pre-approval,

• Shows sellers you’re serious
• Reduces uncertainty for you and the seller
• Strengthens your position
• Reassures you that the financing will close as expected
• Gives you an idea of your budget

Including the letter of approval with your offer is a way to let the sellers know your position. 

2. Put Your Best Foot Forward

In many cases, there may not be a second chance.

Submit an offer that,

• Reflects true market value
• Aligns with your budget
• Is competitive from the start

3. Limit Conditions (Carefully)

Fewer conditions = less risk for the seller.

However, removing conditions like financing or inspection comes with risk. Always understand the implications before doing so. Review the Property Disclosure Statement (PDS) carefully before considering removing the condition of a home inspection. 

To reduce the risks of not having a home inspection, if you are very serious about a particular home considor having the home inspection done prior to the offer date.

Consider having a pre-offer Home Inspection done, at a cost of approximately $400.

4. Increase Your Deposit

The deposit forms part of your down payment. If the offer is not finalized, the deposit will be returned for conditions unsatisfied. The deposit is held in trust by the sellers brokerage. 

A larger deposit signals,

• Financial strength
• Commitment to the purchase

This can make your offer stand out—even if it’s not the highest.

5. Align with the Seller’s Needs

Sometimes it’s not about price—it’s about convenience.

Match the seller’s preferred,

• Possession date
• Terms
• Flexibility

6. Work with a dedicated REALTOR®

This is one of the most overlooked advantages.

A strong agent will,

• Guide your strategy
• Communicate effectively with the listing agent
• Help position your offer to stand out

Final Thoughts

Bidding wars can feel intense—but they are structured, regulated and strategic.

For sellers, they create opportunity.

For buyers, they require preparation, clarity and the right guidance.

At the end of the day, the winning offer isn’t always the highest—it’s the one that gives the seller the most confidence.

And when you understand the rules and approach the process with the right strategy, you’re no longer reacting—you’re competing.

Tara Zacharias, REALTOR®