Offer Night Meets Spring Listings… will it still work?

As someone looking to buy in Toronto I’m noticing the tactic being used lately is to significantly underprice a listing then have an offer night.

To me this is smart (a bit greasy but smart) in a lower listing environment like winter. The nice homes have mostly delisted from fall and along with new ones are waiting till spring/summer to relist. Many sellers hoping there’s a better market waiting and better conditions to show their homes. .

My question is this. Will this tactic even work once the listings start to pile up? My hunch is there’s more pent up demand on the sell side of people who’ve been hanging on for years now for a rebound. They keep getting told a rebound is next rate cut. Next seasonal marketetc.

My hunch is that if an avalanche of listings starts to hit, even nice areas will struggle to pull the offer night shenanigans but maybe I’m just being naive Curious of others thoughts.

Ps. I get we still have a high amount of listing generally speaking historically but seasonally they’re about half that of last fall market.