How to Help Your Clients Win a Bidding War
You’ve helped your clients find their dream home, but in a competitive market, they need to be prepared to win the bid when multiple offers come in. As their Realtor, it’s your job to guide them through the process and give them the best chance of securing the home they love.
Step 1: Get Pre-Approved for a Mortgage
If your clients haven’t already, they must get a pre-approved mortgage. This step is crucial as it:
- Strengthens their offer by showing sellers they are serious buyers
- Speeds up the approval process once their offer is accepted
- Provides clarity on their maximum budget, helping them make competitive but realistic bids
A pre-approved buyer stands out in a multiple-offer situation because sellers prefer offers with financial backing over ones that still require mortgage approval.
Step 2: Submit a Strong, Firm Offer
The cleaner the offer, the better. Encourage your clients to:
- Make a firm offer with minimal conditions
- Avoid complicated contingencies that could make the deal uncertain
- Show commitment by keeping terms straightforward
A seller is more likely to accept an offer that doesn’t come with a list of “buts”—so keep it simple and compelling.
Step 3: Get a Home Inspection
A home inspection before submitting an offer:
- Shows the buyer is serious and has done their due diligence
- Ensures there are no hidden surprises that could cause regret later
- Gives buyers the confidence to make a firm, informed offer
If your clients want to waive the inspection condition, remind them of the risks involved and consider a pre-offer home inspection to help them move forward with certainty.
Step 4: Add Seller Incentives
Sellers are just as eager to close the deal as your buyers are to purchase. Help your clients stand out by offering incentives, such as:
- Covering closing costs to make the process easier for the seller
- Matching the seller’s preferred closing date for a seamless transition
- Offering a higher deposit to showcase commitment and financial strength
These small adjustments can tip the scales in your client’s favor in a multiple-offer scenario.
Step 5: Keep Emotions in Check – Buy Within Their Limits
Bidding wars can be stressful, and buyers often get carried away in the heat of the moment. As their Realtor, it’s your responsibility to:
- Keep them grounded and logical
- Ensure they stay within their financial limits
- Prevent them from overpaying out of desperation
Winning the bid is exciting, but making a smart financial decision is even more important.
Final Thoughts
In a competitive market, buyers need strategy and preparation to win a bidding war. By getting pre-approved, making a firm offer, completing a home inspection, and adding seller incentives, they’ll significantly increase their chances of securing their dream home.
As their trusted Realtor, your guidance will make all the difference—helping them navigate the competition with confidence and make a winning offer without unnecessary risk.