I cannot think of a more rational thing to implement. We have been discussing this measure for months, dare I say even a year. This is not any scare tactic or anything of the sort. In fact this is something that provides more transparency to the market for consumers.
Just because there is a listing that has an offer into the lender doesn’t mean that you the buyer have to pass on it. You can call and see if you can submit a backup offer
As I recall a few months ago there were all of two people who stood here and posted how the effective active inventory was much lower then what everyone thought. In fact that entire thread got pretty nasty. If a measure like this was in place back then, we would not have had to debate about that because it would have been there for everyone to see.
