Can I make an early offer? Homebuyer Question of the Week

by Brian Huie on 2/28/24

Yes, but it should be “compelling” otherwise it could hurt our chances if we need to resubmit.

An early offer on a listing with an offer review date is commonly referred to as a “bully offer” because the buyer trying to “bully” the seller into not waiting for any other offers to come in. The offer must be compelling - So compelling that the buyer will try to coerce the seller into thinking they won’t get a better offer by waiting for the offer review date. The true “bully” part is that the seller thinks this compelling offer won’t resubmit on the offer review date.

A compelling bully offer should be a textbook strong offer with no chance of the buyer backing out - This means over asking, fast close, and no contingencies. A competent and tactful agent should also present it. Timing is another important component - the sooner the offer is made, the higher the chances.

This tactic is a great way to present a strong offer and avoid competing buyers but only if presented well and tactfully. There may be risks to the buyer if the buyer wins such as overpaying. If the offer isn’t compelling enough - The seller or listing agent may have have negative feelings about the buyer and buyer’s agent, the seller may not take the buyer seriously anymore, and if the offer was far from being strong, the listing agent may doubt the competency of the buyer’s agent willing to write a weak offer as a bully offer.

As with any tactic and strategy, I’ll tailor this tactic to each individual buyer as well as each unique listing. For more information on what a strong offer is, click here!”