Mastering Multiple Offers in Real Estate

Leduc (and the Greater Edmonton Area) have been in a Seller’s Market since mid 2020. A seller's market occurs when the demand for homes exceeds the supply of available properties for sale. In such a market, sellers have the advantage because there are more buyers competing for fewer homes, driving up prices and often resulting in quicker sales. In Leduc, in the first 3 weeks of March 2024, 37% of listings sold at or above list price. This is a good indication that these listings may have received multiple offers!

Multiple offers arise when two or more interested buyers submit purchase offers for the same property. Unless the seller specifies otherwise, the potential, or existence of multiple offers will be communicated to all interested buyers. Each party decides whether to submit an offer without knowing the details of the competing offers. The seller then reviews all offers and chooses which one to accept or negotiate further.

Navigating through this process can be both exhilarating and stressful for both sellers and potential buyers. However, having a skilled Realtor by your side can greatly alleviate these challenges.


Your Realtor will help guide you on a strategy, in the event that you receive multiple offers.

What to do:

Communicate clearly: unless otherwise instructed, your Realtor will keep an open line of communication with all interested parties, informing them that you will be receiving multiple offers and setting expectations regarding the timeline for making a decision. Note: it is your choice whether you want to disclose the presence of multiple offers. The competition may lead to more favorable offers; however, there is also a risk that it may deter some, or even all, potential buyers from submitting.

Request Best and Final offer: In the presence of multiple offers, buyers will be encouraged to present their best offer right off the start. 

Review each offer carefully: assess the terms of each offer, including the proposed purchase price, closing date, and any contingencies. Although a higher offer is enticing, consider other factors such as the buyer's financing, contingencies, and flexibility on closing dates. Sometimes, a slightly lower offer with more favorable terms can be more advantageous.

Understand the qualifications of each buyer:mortgage pre-approval may indicate that the buyer is serious and has done the pre-liminary work to ensure they are qualified, financially, to buy your home. This will increase the likelihood of a successful and timely closing if financing is one of the conditions of sale. 

Select the winning offer: you may choose to immediately accept one of the offers, or you may choose to negotiate further with the buyer.  Even in a multiple-offer scenario, there may be room to negotiate on price, closing costs, or other terms.

Consider a back-up offer: You may want to consider selecting a 2nd offer, as a back-up, if the 2nd buyer agrees. If the primary offer falls through, having a backup offer in place can prevent delays in the selling process. 


In a fiercely competitive market like ours, it is essential that you are prepared to make the best first impression when presenting an offer. Your Realtor will help prepare you to submit a strong and compelling offer.

What to do:

Get your finances in order: Before entering the market, ensure you have a pre-approved mortgage, and provide the approval letter to your Realtor. This not only strengthens your offer but also demonstrates to sellers that you are a serious and qualified buyer. 

Discuss your priorities with your Realtor: As the market is moving quickly, being clear about what you want and need in a new home is essential. This will help guide your Realtor to focus on the properties that meet your needs, and will help you make a quick and considerate decision unde the pressure of multiple offers.

Be flexible, where you can: Showing flexibility in the closing date, terms, and conditions will make your offer more appealing; however, be cautious, consult with your Realtor to ensure you're not taking unnecessary risks.

Offer a competitive price: Unfortunately, price will evidently play a critical role in a multiple offer scenario. Make a strong, and competitive offer, if feasible. You might want to consider offering slightly more than the listed price to distinguish yourself, particularly for properties in high demand. It's not uncommon for offers to exceed the listing price, and in 2024, the median accepted offer above the asking price for listings in Leduc was $11,000!

Quick response time: In a multiple-offer situation, time is of the essence. Be prepared to respond promptly. A quick response shows your eagerness and commitment to the purchase.

Show respect: Your chances of competing in a multiple offer situation can be harmed by your own actions. When visiting a Seller’s home, treat their property with respect. Taking photos inside the house, lighting up a cigarette in the yard, or having kids running around unattended are all situations that have caused sellers to choose not to work with a particular buyer. Avoid lowball offers, and aggressive sales tactics, these will surely alienate the seller. 

In summary, encountering multiple offers is likely in the Leduc Spring Market. Whether you're a seller of a buyer, effective communication is crucial when dealing with this scenario. By approaching the process thoughtfully, and collaborating closely with an experienced Realtor, you can navigate it successfully and secure the best possible deal. If you would like to discuss your specific situation, don't hesitate to contact the Jason Rustand Team for personalized guidance.*
*Not intended to solicit those already under contract