Property Unpacked podcast: What should you do when an agent asks for your best offer?

It’s one of the toughest tasks when buying a home. You’ve fallen head over heels for a property, you’re awaiting auction day to bid, but then the agent asks you to put in your ‘best and final offer’. 

Do you overcompensate by putting in a higher offer than you want to try to beat other buyers? Or try your luck with a low-ball offer in the hopes there is little competition?

On this week’s episode of Domain’s Property Unpacked, Veronica Morgan – principal of Good Deeds Property Buyers and co-host of Location Location Location – walks us through the different scenarios where this can occur and how best to approach them. 

“With an auction campaign, when the agent comes to you and says they’ve got someone shaping up to make an offer and it looks like it’s really good – you’re going to have to put your best foot forward, etcetera. Most buyers are going to sit there scratching their head thinking ‘hang on a minute, I thought this was going to auction,” Morgan said on the podcast.

Also this week, demographer Simon Kuestenmacher, co-founder and director at The Demographics Group, discusses how changes to employment could affect housing demand long-term.

Hear the full episode of Property Unpacked on Apple Podcasts, Spotify and everywhere else you find your podcasts.