Running multiple offers with BindingOffers

The problem with “highest and best”

When five offers arrive on a listing, a common response is to send everyone the same message: send your highest and best by Friday. Buyers then guess. Some overshoot, some drop out because they assume they can’t compete, and a buyer who loses may wonder whether the process was fair.

That leaves you with three headaches:

• Phone calls you can’t answer well. Every buyer’s agent asks where their client stands, and what you may say depends on what your seller has authorized.
• A paper trail spread across email, texts and voicemail. If anyone later questions how the offers were handled, you have to rebuild the timeline.
• A seller who wonders whether there was more money on the table.

How an offer round works

1. You open a round on the listing and share it with the buyers who are interested and their agents.
2. Buyers see the current highest offer while the round is open.
3. A buyer who wants to go higher submits a new signed offer. Nobody is asked to guess against a number they can’t see.
4. The round closes at 5:00 p.m. local time. An offer that comes in late extends the round so others can respond, but never past a hard stop at 8:00 p.m.
5. The seller reviews the offers and decides. If the seller wants one more step, a best-and-final request is built in.

Text message updates are included, which should mean fewer status calls for you.

The seller still chooses

An offer round shows where the price stands. It doesn’t choose for the seller. Price is one term among several, and a seller may prefer a lower offer with stronger financing, fewer contingencies or a better closing date.

The seller can review the offers in their own portal and tell you which one they prefer. You, as the listing agent, record the decision. That keeps the instruction in writing and keeps you in your proper role.

Before you run an open round

Showing buyers the highest offer is a choice your seller makes, not a default. This is general information, not legal advice, so check your state’s rules and your broker’s policy first.

• Get the seller’s written authorization to disclose offer amounts. Under the REALTOR® Code of Ethics, disclosing even the existence of offers takes the seller’s approval (Standard of Practice 1-15), and state law may say more.
• Tell every buyer the rules before they offer: that the highest offer will be visible to other buyers, when the round closes and how extensions work. Buyers’ agents already have a duty to warn clients that sellers may not keep offers confidential (Standard of Practice 1-13).
• Treat every buyer the same. Same information, same deadline, same chance to respond.
• Keep the seller’s private details private: their reasons for selling and the lowest price they’d accept are still confidential.
• Keep your marketing accurate. Many states and brokers allow “sold” only after closing, and your posts about the result need the usual brokerage details. Check a “just sold” post here.

What it costs

Text message updates and the best-and-final step are included for everyone. A branded report of the round and ready-made social media graphics come with Pro. Prices are as of October 2026. BindingOffers is preparing to open to agents, so check bindingoffers.com for current plans and availability.

What your buyers’ agents will ask

• “What can my client see?” The current highest offer, so they can decide whether to go higher or stop.
• “Does the highest offer automatically get the house?” No. The seller weighs every term and chooses.
• “What if we’re not ready by 5:00?” The deadline is known from the start. A late offer extends the round, up to the 8:00 p.m. stop, so other buyers get time to respond.

If your buyer clients want to understand the process from their side, OfferBacked’s buyer guide, how offer rounds work, explains it in plain English.

Who is behind it

BindingOffers.com is a service for listing agents operated by BindingOffers LLC, a separate company under common ownership with OfferBacked LLC. We’re telling you about it because we think it solves a real problem, and you should know the connection when you weigh that. BindingOffers also has free tools for listing agents, including the fair housing ad checker mentioned in fair housing in advertising: words to avoid.

For the rules on advertising a listing and its sale, see real estate advertising rules every agent should know.

Common questions

Updated October 2026. General information for real estate professionals, not legal, tax or financial advice. Prices, platform rules and program terms change, so confirm them at the source.