Winning in Multiple Offers
Representing Buyers in Multiple Offers
Purpose:
To outline a clear, step-by-step process for representing buyers in a competitive, multiple-offer environment. This procedure ensures that clients are fully prepared, protected, and positioned to win while remaining compliant and professional.
1. Prepare the Buyer Early
A winning offer starts well before offer night. Set the foundation with strong education and documentation:
• Conduct a full Buyer Presentation to set expectations.
• Review and complete a Buyer’s Checklist (include financing, timelines, preferences).
• Ensure the buyer is pre-approved with a reputable mortgage specialist you trust.
• Sign a Buyer Representation Agreement to formalize your relationship.
• Conduct a Comparative Market Analysis (CMA) for the area and educate your client on likely price ranges.
• Discuss the risks of waiving conditions (e.g., home inspection, financing) and have the buyer sign OREA Form 127 – Buyer Acknowledgement of Conditions Not Included when necessary.
2. Finding and Researching the Property
• Check REALM daily to stay ahead of new listings.
• Know your inventory and be quick to react.
• Research properties in advance:
• Use GeoWarehouse, public records, and municipal data to verify property information.
• Review zoning, permitted uses, and check for existing surveys or easements.
3. Understanding and Using Bully Offers
• A Bully Offer is submitted before the scheduled offer date in hopes of beating competition.
• If you’re using this strategy, bring your absolute best offer early, with strong price, terms, and deposit.
• This strategy can be used regardless if the listing allows for pre-emptive offers.
• Clearly communicate the strength of your offer and be prepared to act quickly.
4. Writing a Strong Offer
Your offer package should be clean, clear, and compelling. It should include:
• A competitive price aligned with or ahead of market value.
• A strong deposit, ideally included with the offer as a copy or certified confirmation.
• Minimal or no conditions, where appropriate and with proper buyer disclosure (see Form 127).
• A buyer’s personal letter to connect emotionally with the seller (if appropriate).
• Pre-approval letter from their lender.
• Full, clean, and professionally typed offer with Form 801 attached.
5. Offer Communication Strategy
Communication is key in winning multiple offers:
• Call the listing agent early to introduce yourself and your client.
• Register your offer early via BrokerBay and confirm receipt.
• Stay in contact throughout — confirm all documents have been received and ask about offer presentation details.
• If possible, present in person or by live video to humanize your buyer.
• Keep communication professional and timely. Always follow up written messages with a call.
• Encourage the listing agent to give you another chance if a top offer is close.
• Avoid relying on texts or casual email for negotiation — ensure everything is in writing and properly documented.
6. Manage Expectations & Ask the Right Questions
Prepare your client mentally and emotionally for the process by asking:
1. “Will you be upset with me tomorrow if it sells for more than you offered?”
2. “Will you be upset with me tomorrow thinking I pushed you too hard?”
These questions help the buyer reflect honestly on their comfort level and guide you in delivering the right offer strategy.
7. Post-Offer Etiquette
• Win or lose, follow up with the listing agent to gather feedback.
• If your offer was not successful, debrief with your buyer and revisit other options quickly.
• If accepted, confirm timelines, send the deposit, and transition to next steps (inspection, lawyer, lender).