{"id":5585,"date":"2017-08-05T05:04:16","date_gmt":"2017-08-05T05:04:16","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/dealing-with-competition-while-making-an-offer\/"},"modified":"2017-08-05T05:04:16","modified_gmt":"2017-08-05T05:04:16","slug":"dealing-with-competition-while-making-an-offer","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/dealing-with-competition-while-making-an-offer\/","title":{"rendered":"Dealing with competition while making an offer"},"content":{"rendered":"

<\/p>\n

\n

The quest for a dream home can be a bumpy road, with competition from fellow buyers being one of the biggest challenges. <\/strong><\/p>\n

Establishing whether to make an offer<\/a>, formulating the price and preparing with due diligence are just some of the tasks buyers need to undertake. Dealing with the competition can be the hardest part for most people.<\/span><\/p>\n

Even if an agent is willing and able to sell a property prior to auction, buyers should always be clear on the agent\u2019s \u2018rules\u2019 for how they deal with competing buyers. <\/span><\/p>\n

Every agency and every agent have their own unique way of handling competition. The three most well-known processes are: p<\/span>hone calls back and forth until the last person stands;\u00a0<\/span>Boardroom auction;\u00a0<\/span>Best and Highest (offers). <\/span><\/p>\n

All three have their pros and cons, but some buyers prefer the transparency of an auction scenario, so if an agent\u2019s method is the latter, buyers may want to think twice about triggering a sale before the auction.<\/span><\/p>\n

\"Agent<\/p>\n

Some agents are happy to sell a property prior to the auction. Even so, make sure you find out how they handle competing buyers. Picture: realestate.com.au<\/p>\n<\/div>\n

Don\u2019t ever rely on your relationship with your agent for a successful outcome, nor anticipate any special treatment. <\/span><\/p>\n

Vendors expect that their agent will achieve the best result for them by offering all buyers an equal opportunity to fight for a property. <\/span><\/p>\n

In a busy sellers\u2019 market, buyers need to do their homework on their price limit before making an offer in preparation for facing competing buyers. Good luck!<\/span><\/p>\n

Looking to make an offer?<\/h2>\n

This article discusses handling the competition.<\/p>\n

But have you looked at the 6 things you should do before making an offer?<\/p>\n

Plus what to do when making an offer on your dream home?<\/p>\n

\u00a0<\/p>\n

Cate provides\u00a0<\/span>opinions based on current market conditions. \u00a0These opinions should not be treated as investment advice. Always obtain advice based on your individual circumstances.<\/span><\/h6>\n

\n <\/p><\/div>\n

Realestate au <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The quest for a dream home can be a bumpy road, with competition from fellow buyers … Dealing with competition while making an offer<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":5586,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[695,4811,1403,12908,543,41,818,61],"class_list":["post-5585","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-agent","tag-an-agent","tag-buy","tag-home","tag-home-buying-guide","tag-property","tag-real","tag-seller"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/agent-2000x1500-1024x768.jpg?fit=1024%2C768&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":5587,"url":"https:\/\/amazingproperty.com.ng\/blog\/making-an-offer-on-your-dream-property\/","url_meta":{"origin":5585,"position":0},"title":"Making an offer on your dream property","author":"Amazing Property","date":"August 5, 2017","format":false,"excerpt":"When it comes to placing an offer on a dream home the best results are often achieved when buyers pull on their own market research and maintain a good\u00a0relationship with the agent.\u00a0 The agent is the link between you and the seller and their ability to offer key information is\u00a0invaluable.\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/couple_paperwork3_getty_a.jpg?fit=1200%2C900&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/couple_paperwork3_getty_a.jpg?fit=1200%2C900&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/couple_paperwork3_getty_a.jpg?fit=1200%2C900&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/couple_paperwork3_getty_a.jpg?fit=1200%2C900&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/couple_paperwork3_getty_a.jpg?fit=1200%2C900&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":7030,"url":"https:\/\/amazingproperty.com.ng\/blog\/auction-tips-for-buyers\/","url_meta":{"origin":5585,"position":1},"title":"Auction tips for buyers","author":"Amazing Property","date":"November 9, 2017","format":false,"excerpt":"Property auctions can be intimidating, especially for first-time buyers, so knowing what to do and what not to do is essential. 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