What is Highest and Best?

If you’re thinking of buying, or currently looking, you’ve probably seen or heard the term “highest and best.” What exactly is highest and best?

In the local, Naperville, Orland Park and Schaumburg area markets in which we work, it is common for most sellers and Listing Agents to call for “highest and best” when there are multiple offers. Calling for highest and best means the seller side is asking the buyer side to submit his/her/their highest offer, with the best terms. This is common is the local market, with multiple offers being so common; however, not all sellers or Listing Agents will announce there are multiple offers or provide a highest and best due date, publicly in the MLS. Because of that, it is important for a buyer’s Agent to check in with the list side and it is important for the list side to answer any buyer side questions in a timely manner.

Before viewing a property, I check in with the Listing Agent to see the current status, so I can tell my client(s) if there are multiple offers and when offers are due.

Being in real estate as long as we have, we have written many offers and our multiple offer winning percentage is very high! We know what terms most sellers, or Listing Agents, like to see in offers. It is not always just about price.

Are you looking to buy? Buyers say one of the many things that make us stand apart from other Agents is the amount of information and resources we provide buyer clients. We go over ways to increase the chance of winning a multiple offer situation and how to craft a great offer. Who you work with makes difference in any real estate market.

#ExperienceIsKey, call The Glockler Group today (708)480-2011

Kristine Glockler, Chicago Suburban REALTOR

Coldwell Banker Realty