Welcome to the Selling Southport Podcast. I'm Andrew Wright, principal of Professional Southport since 2008. Real estate isn't just my career, it's my passion with decades of experience. I know what it takes to succeed in the property market. Especially here in Southport, whether you're looking to buy, sell, lease, or invest, you can count on me and my team to deliver strategies that maximize your returns.
Let's dive into today's episode and get you one step closer to your property goals.
Hi, I'm Andrew Wright from Professional Southport, and welcome back to another episode of Selling Southport. Your go-to podcast for real estate advice here in Southport on the Gold Coast. Today, we're talking about a scenario that every seller wants, but few are truly prepared for. You've listed your property, the marketing has hit the mark.
Buyers are flow through the open homes, and now you've got more than just one offer, multiple offers. Sitting right in front of you sounds like a dream, right? It's exciting, but it can also be a little bit overwhelming. Which offer is actually the best one? How do you compare them fairly and what should you watch out for so you don't make a rushed decision?
That's exactly what we're unpacking in this episode. I'll walk you through how multiple offers work, what to look for, just beyond the top dollar, and how I help my clients make smart, confident decisions when the offers start rolling in. Let's start with something most sellers assume. That the highest price always wins.
It makes sense on the surface. You are selling your home so naturally you wanna walk away with the best possible return. But here's the reality. The best offer isn't always the highest one. It's the one that actually makes it the settlement. There are so many moving parts in a contract, and price is just one of them.
When you're looking at multiple offers, here's what else matters just as much as the price, the terms, finance conditions. Is the buyer already pre-approved or will they need a few weeks to find out building and pest inspections? Are they making the offer subject to building and pest inspections, or are they confident with the property as is settlement date?
Does their preferred timing suit your plans deposit? How much are they putting down and when are they putting down the deposit? Especially in the case where contracts fall over the amount of the deposit is what you can safely recover in the event that the buyer doesn't settle on time. And finally, buyer motivation.
Are they decisive and ready to go, or do they seem hesitant? All of these pieces help paint the bigger picture, and this is where having an experienced agent becomes so valuable. When I represent a seller through a multiple offer situation, my job is to be the calm in the chaos. First, I lay out all the offers clearly, so you're not trying to compare apples with oranges.
I translate every detail into plain language, so you're not guessing or assuming. Secondly, I'll give you honest insight. I'll tell you which buyers feel rock solid and which ones might be a bit shaky, and I'll handle the back and forth so you don't feel overwhelmed or pressured. Here in Queensland, we're required to follow multiple offer disclosure rules, which means when multiple offers are received, we have to let each buyer know they're in competition, but we can't reveal the details of all the other offers.
That keeps the process fair, but it also means having a strong strategy behind the scenes is crucial. Now, let's talk about how to compare offers strategically. Let's say one buyer offers you $720,000, but it's subject to 21 days finance, a building and pest inspection, and a long settlement of 90 days.
Offer two comes in at $705,000. But it's unconditional with no conditions. They've waived the cooling off period and settlements in 30 days, which is the better offer. The answer depends on your situation, but often the second offer is far stronger because there's less that can go wrong. The first buyer might offer more, but if their finance falls through or they try and renegotiate massively after a building and pest inspection, the whole deal could collapse.
Meanwhile, the second buyer could be locked in and ready to move. That $15,000 difference could actually cost you more in the long run, particularly if a market is going backwards, if the offer falls over and you have to remarket the home. Let's also touch on a few common pitfalls to avoid one. Don't rush.
It's okay to take time to review the offers carefully with your agent. You don't need to make a decision on the spot. Two, don't get swept up Emotionally, I've seen sellers pick up an offer based on flattery or a handwritten letter from the buyer, only to be disappointed later when it didn't proceed. And three, don't play the market too hard.
Pushing buyers too far or making them feel like they're part of a bidding wall can sometimes backfire. In south port's competitive market, strong buyers are ready to act, but they also have limits and they won't wait forever. So what's the big takeaway here? If you are lucky enough to receive multiple offers, you're in a great position, but you still need a clear head, a calm approach, and the right advice, and that's exactly what I offer to every one of my sellers.
I've helped dozens of Southport homeowners navigate these moments, comparing offers side by side, asking the right questions and negotiating a result that works for them, not just for the spreadsheet. If you're thinking of selling or you are already on the market and wanna make sure you're fully prepared in case multiple offers come in, let's have a chat.
The right strategy at the right time can make all the difference in both your outcome and your peace of mind. I'm Andrew Wright from Professional Southport. Thanks for joining me on this episode, and we'll see you in the next one. Thanks for listening to the Selling Southport podcast. I hope today's episode has given you some valuable insights and practical advice on the local real estate market.
Whether you're looking to buy, sell, lease, or invest, I'm here to share my extensive experience and guide you every step of the way. If you have any questions or want to discuss your next property move, don't hesitate to reach out. Your success is my priority. Stay tuned for more expert tips and updates on the Southport property scene.