In real estate, timing and strategy often matter just as much as price. When a great home hits the market—especially one that’s priced attractively—you need to act fast, and you need to act smart. Whether you’re buying your first home or your fifth, understanding how to approach a multiple-offer situation can mean the difference between landing the home you love or watching someone else move in.
Here’s what you need to know.
The Importance of Acting Fast
When a property comes on MLS, especially in a competitive neighborhood, you want to be one of the first to see it—and ideally, one of the first to submit an offer. If the home is listed on Monday, you should aim to view it that day and submit your offer as soon as possible.
Why? Because the minute an offer is submitted, a good listing agent will inform every buyer and agent who previously visited the home. They’ll call the agents who showed it, the people who came to the open house, and anyone who expressed interest. That creates buzz—and often, competition. Depending on how long you give the seller to respond (known as the irrevocable time), you could be opening the door to a bidding war without realizing it.
If you give them until 4 p.m. the next day, for example, the listing agent might tell other buyers the seller is reviewing offers at 2 p.m. That gives others time to submit—and now you’re no longer alone.
Spotting an Underpriced Listing
Sometimes a seller prices their home below market value. Maybe they want a quick sale. Maybe they’re trying to generate multiple offers. Maybe the agent underestimated the market. Whatever the reason, if a house is listed at $499,900 and you know similar homes on the street go for $550,000 to $570,000, this could be an opportunity—but only if you act quickly and strategically.
Irrevocable Time: Shorter Can Be Stronger
In a situation like this, submitting a strong offer with a short irrevocable (say, 5 hours) can work in your favor. It puts pressure on the seller to make a decision quickly and limits the time for other offers to come in
But what should you offer?
Some buyers go in at exactly asking, but that may cause the seller to hesitate, especially if they feel they underpriced the home. One smart strategy is to go in slightly below asking—say, $1,500 less. Why? It leaves you room to negotiate. If the seller isn’t sure, their agent may come back and say, “We’re not ready to accept this.” At that point, you can say, “Would they consider full price?” and keep the door open.
The Risk of Conditions
If your offer includes conditions—like financing or home inspection—the seller may not take it seriously, especially if it’s early in the listing period.
Many home inspection conditions, for example, are written as being “at the buyer’s sole and absolute discretion.” That means you can walk away for any reason—even a $10 issue—and the seller knows it. So if your offer has a 5- to 7-day inspection clause, they may simply wait and hope for a better (firmer) offer.
But if you must include conditions, your offer has to compensate for that risk—either with a higher price, a shorter deadline, or better terms overall.
How to Choose Your Maximum Price
This is one of the most important decisions you’ll make in a multiple-offer scenario. Your maximum price might be $499,900—or it might be $510,000, $520,000, or even $540,000.
Whatever number you choose, here’s the golden rule:
Go in at a price that you’ll be comfortable with, whether you win or lose.
In most cases, you won’t know what other buyers offered. If your offer is accepted, the only number you’ll see is the price you paid. If it’s too high and you feel regret, that’s a bad experience. As your agent, I never want that for you.
But going too low can hurt just as much. Imagine you offered $510,000, and after the deal closes, you find out it sold for $515,000. If you’re left thinking, “I would’ve gone to $520,000 if I had known,” that means you went in too low—and you knew it.
So take a moment before submitting and ask yourself: “If someone else pays $X, will I feel okay losing it at that price?” If the answer is no, consider raising your offer before you submit.
The Anatomy of a Strong Offer
If you want to win, especially in competition, you need to stack the odds in your favor. That means your offer should ideally include:
- No conditions (if possible)
- A strong price based on market value
- A short irrevocable (5–6 hours)
- A large deposit
- The seller’s preferred closing date
- Clean terms—nothing unusual that might scare the seller
This kind of offer makes it easy for a seller to say “yes” on the spot.
And If You Don’t Win…
Even if you play every card right, you may still lose out. Sometimes, it just wasn’t meant to be—and that’s okay. The right home will come along, and the key is to stay prepared and emotionally balanced through the process.
Remember: every offer is a learning opportunity—and a chance to get closer to the home that’s truly right for you.
Need Help Navigating Your Next Offer?
With 36 years of real estate experience and a team that knows how to compete—and win—in fast-paced markets, we’re here to guide you every step of the way. Let’s make sure your next offer is your best one yet.
Set with Brissette. Smart Strategy. Real Results. No pressure.
