It allows you to make firm offers on a new home because you know exactly when your current one will "sell".
You won't be stuck paying for two mortgages, taxes, and maintenance for months while waiting for a traditional buyer.
Gaurateed sold or I'll buy it gone is a scam : r/TorontoRealEstate
If the market dips unexpectedly, you have a locked-in floor price. The "Catch": What to Watch For