What is a Multiple Offer Situation
When housing inventory tightens in Victoria, and we are in a “seller’s market” multiple offer situations become increasingly common — particularly for single-family homes, but also for strata duplexes, townhomes, and to a lesser degree, condos. Here is what to expect, and how to give yourself the best possible chance of success.
How sellers manage multiple offers
- Holding offers
In a sellers’ market, many sellers will hold offers — meaning the property is exposed to the market for several days before any offers are reviewed. A home listed on Thursday, for example, may have offers held until Monday, allowing maximum buyer exposure over the weekend.
- Required open periods
A variation we are seeing more frequently is a listing requirement that offers remain open for 24 or 48 hours. This gives the seller time to consider the offer carefully and allows other buyers the opportunity to view the property and potentially submit their own.
What about Bully offers
A bully offer is one submitted before the scheduled offer presentation date, typically with a tight acceptance window designed to pressure the seller into deciding before other buyers can compete. Sellers must weigh whether the terms justify acting early, or whether waiting will produce stronger results. A compelling bully offer — particularly one well above asking price — can be difficult to set aside, but many sellers choose to hold firm out of principle or confidence in the process.
How multiple offers are reviewed
Unlike some jurisdictions, British Columbia has no formal system governing how multiple offers must be handled. Once all offers are received, the listing Realtor typically reviews them with the seller, focusing on the key terms: price, deposit, inclusions, acceptance timeline, conditions, condition removal date, and completion date.
Following that review, one of four outcomes typically occurs:
- The seller accepts one offer — when a single offer is clearly superior and meets or exceeds expectations.
- The seller counters one offer — when one offer is the clear favourite but one or more terms need improvement, such as price or completion date.
- The seller rejects all offers — when no offer meets expectations, whether due to pricing strategy, market timing, or the right buyer simply not yet having seen the property.
- The seller invites a second round — when two or more offers are closely matched, buyers may be invited to revise or resubmit.
How to make your offer as competitive as possible
- Lead with your strongest price
- Price is often the single most important factor to a seller. In a multiple offer situation, put your best number forward and assume there will not be a second opportunity. You want to walk away knowing you left nothing on the table — not wondering whether an extra five thousand dollars would have made the difference.
- Keep your offer clean Fewer conditions and shorter conditional periods make your offer more attractive. Before presenting, speak with
If you have questions on selling or buying a home in the Greater Victoria area, please contact us as we would be delighted to help you open a new door. Contact us – we are here to help.