Latest / Your Local Real Estate Expert - The Schultz Realty Podcast / EP23: Winning in Queensland’s Multiple-Offer Market
Transcript
- Hi, I'm Sarah Schultz, and welcome to your local real estate expert, the Schultz Realty Podcast As the award-winning number one agent and agency for Mount Warren Park Bahrs Scrub and Windaroo I've been helping buyers find their dream homes and exceeding sellers expectations on price and service in our area for over 10 years known as The Property Matchmaker. I'm here to share stats. Facts and insights to make your real estate journey in the local area Seamless and successful. Welcome back to my podcast. I'm Sarah Schultz from Schultz Realty, again, situated in sunny Queensland in the Beenleigh Mount Warren Park, wind Rouge, Northern Gold Coast area. And today we're diving in to one of the most stressful yet exciting parts of Queensland real estate, the multiple office situation. Now whether you are a buyer competing or a seller choosing between offers, this episode will help you navigate it like a pro with demand. Still high in many Queensland suburbs, it's not unusual for a property to still be receiving 5, 6, 10 offers in the first weekend. What is a multiple offer situation? A multiple offer occurs when two or more buyers submit offers at the same time. Agents must disclose that a multiple offer situation exists and give every buyer the same opportunity to submit what's called their best and final offer. Legally, agents cannot reveal details of other offers. It must remain fair how buyers can stand out. Be finance ready. Have your pre-approval in writing, include the letter when submitting your offer. Clean contracts, fewer conditions equals more attractive deposit strength, a solid deposit signals commitment, and then flexibility on settlement. Sometimes a seller values timing more than a few extra dollars emotional connection. A short cover letter or a personal note can sometimes tip the scales 'cause we're all human. After all mistakes buyers make. Waiting for a second chance In Queensland, you're really getting one other than the best and final call that is your second chance. So it's important to understand your second chance is best and final. Make sure you do come back with the best on offer. On terms as well as. Price. I can't stress that enough. It's about the whole package. For a seller, if you're someone who really wants the home, offering high is great. We want that, but keep in mind, adding too many conditions, sellers see a higher risk and may choose a slightly lower offer in price, but has better conditions. As I said before, it's about the whole package, not understanding contract deadlines. If you're a new buyer coming in, uh, and unsure of the process, make sure you ask your agent to help, but also your conveyancer once your contract starts. There is nothing wrong in ever asking too many questions, in my opinion. I want my buyers and sellers to feel nurtured the whole way and know that I'm here if they want to ask any question. No question is silly. We wanna help and make the process as smooth as we can. And so some advice for sellers. Work with your agent to compare the offers. When they do come in, make sure they're telling you the whole picture of every offer, so you can see that. Make sure your agent agent is handling all offers legally and fairly, and does everything they can to get the best overall offer for you to accept. The goal isn't just the highest offer. It's also about the one that will actually settle as well. So knowing their buyer, the buyers, and the buyer's circumstances is extremely important. Multiple offices, situations can feel like quite a rollercoaster and be very daunting. It's also very exciting, but preparation and communication is always key. Buyers go in. Buyers are going in strong and clean. Get into their dream home. So trust your gut, but also your agent's process has to be on point. Remember, the more information you can receive, the easier it's gonna be for you to decide. So thanks for tuning in. I'm Sarah Schultz from Schultz Realty, and we will see you at the next episode. Thank you for tuning in with me, your local real estate expert, the Schultz Realty podcast. I'm proud to serve Mount Warren Park Bahrs Scrub and Windoo as a knowledgeable, caring, and reliable resource for all your real estate needs. Whether you are buying, selling, or just exploring your options, I'm here to help you exceed expectations and make that perfect match. If you enjoyed this episode, don't forget to subscribe so you never miss an update and share it with another local who might find it helpful. Until next time, take care. And remember, the perfect property is just around the corner.