Should I hold offers to encourage bidding?
Want a bidding war? Here’s when holding offers helps — and when it kills your sale.
Quick answer
Holding offers can work — but only with a plan. If your market has strong buyer demand and your home is priced to attract attention, setting an offer review date often creates multiple offers and drives the price up. If demand is weak or you already have a strong unconditional offer, holding offers can cost you time and money.
Why holding offers can increase the sale price
- Creates urgency: A clear “offer review” deadline pushes buyers to compete now.
- Concentrates demand: Multiple offers arrive at once, which can spark a bidding war and push the final sale price past list.
- Simplifies comparison: Reviewing offers together lets you evaluate price, terms, and conditions side-by-side.
When holding offers is the wrong move
- Slow market or niche property: Few buyers mean fewer bids and more time on market.
- Strong early offer: If you get a top-dollar, clean, unconditional offer, you might lock a sure sale instead of chasing more.
- Financing risk: In volatile markets, buyers may not secure financing by the deadline, increasing fall-through risk.
How to hold offers the smart way (step-by-step)
- Price right: List slightly under market to attract attention. Keywords: competitive pricing, attract multiple offers.
- Set a firm review date and advertise it in the listing and marketing materials.
- Require written, fully completed offers with proof of funds or pre-approval.
- Keep communication transparent: Tell buyers when you will review offers and how you’ll decide.
- Evaluate beyond price: Prefer clean, unconditional offers or better closing timelines.
- Be ready to accept a great early offer. Don’t be rigid.
Legal and ethical notes
Follow local real estate rules. Don’t mislead buyers. Your agent must disclose the process and treat all offers fairly. Using a review date doesn’t mean hiding information or breaking disclosure rules.
Simple rule of thumb
If local buyer demand is high and your agent can generate multiple qualified showings quickly: set an offer review date and let competition raise the price. If demand is low or you already have a rock-solid offer: take the sure deal.
Why hire an expert
A skilled listing agent structures the timeline, screens buyers, and positions your home to attract top offers. Tony Sousa has a track record of selling fast and for the most money in this market. He knows when to hold offers and when to take a winner.
Ready to test a strategy that sells fast and maximizes price? Contact Tony Sousa — local realtor who gets results.
Email: tony@sousasells.ca
Phone: 416-477-2620
Website: https://www.sousasells.ca
