When multiple buyers compete for your South Florida home, asking for highest and best offers is the move that maximizes your sale price. Here's exactly how to do it — and the common mistakes that leave money on the table.
When your South Florida listing attracts multiple offers, requesting highest and best from all buyers is typically the right strategy — it levels the playing field, applies competitive pressure, and often results in a higher final sale price than accepting the first strong offer. But the process has to be handled correctly. Done poorly, you can accidentally reduce competition rather than intensify it.
What "highest and best" actually means
When a seller requests highest and best, they're asking all interested buyers to submit their strongest possible offer by a specific deadline — price, terms, and any other modifications they want to make. The seller then reviews all offers simultaneously and selects the one that best meets their needs (highest price, best terms, strongest financing, fastest closing — or some combination).
Importantly, requesting highest and best is not an auction. Buyers don't know what others are offering. They're making a blind best offer, knowing this is likely their last opportunity to compete.
When to request highest and best
The right time to call for highest and best is when you have genuine competition — multiple offers, or strong buyer interest that suggests multiple offers are likely within 24–48 hours. Common triggers in South Florida:
- Two or more offers received within the first 48–72 hours of listing
- One offer received with strong signals that others are coming (multiple showing requests, active agent inquiries)
- A first offer that's good but below your target — and you believe competition exists to drive it higher
What you should not do: call for highest and best when you only have one buyer. This is a bluff — and buyers usually know it. If you request highest and best with only one offer and that buyer walks away, you've lost your only lead.
How to word the highest and best request
Your agent will communicate the request to all buyer's agents whose clients have submitted or expressed interest. A clear, professional request includes:
- The deadline: a specific date and time (typically 24–48 hours from the request, often set for 5pm or 8pm to allow buyers time to consult their agents)
- What to include: offer price, all terms, proof of funds or pre-approval letter, any escalation clause parameters if you're accepting them
- A statement that you will review all offers after the deadline and make a decision — no further rounds of negotiation
The language should be firm and clear. A vague or overly casual request signals that you're not serious, which reduces buyer urgency.
Evaluating highest and best offers: price isn't everything
When the offers come in, resist the temptation to automatically accept the highest price. In South Florida's market, these factors often matter as much as price:
- Financing strength: Cash offers are more certain than financed offers. A financed offer $10,000 higher than a cash offer may net you less if the financing falls through and you lose two weeks of marketing time.
- Contingencies: Fewer contingencies (or shorter contingency periods) reduce your risk. A buyer waiving inspection contingency on a well-maintained property represents real value.
- Closing timeline: Your ideal closing date matters. A buyer who can close in 21 days may be worth more than one who needs 45 days.
- Earnest money: A larger earnest money deposit signals buyer commitment and provides seller protection if the buyer defaults.
What to do after highest and best
Once you've selected an offer, execute the contract promptly and notify all other buyers that the property is under contract. Speed matters — your selected buyer should be in contract within hours of your decision, not days. Delays after a highest and best selection can cause buyers to walk away.
Handling a multiple-offer situation correctly requires experience and strategy. Our listing agents have navigated dozens of competitive South Florida situations and know how to run this process in a way that maximizes seller outcomes. Request a listing consultation here or reach out to our team to discuss your specific situation.
