[{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/truthgroup.com.au\/2026\/08\/19\/best-and-final-offers-in-sydney-what-buyers-should-do-when-an-agent-asks-for-one\/#BlogPosting","mainEntityOfPage":"https:\/\/truthgroup.com.au\/2026\/08\/19\/best-and-final-offers-in-sydney-what-buyers-should-do-when-an-agent-asks-for-one\/","headline":"Best and Final Offers in Sydney: What Buyers Should Do When an Agent Asks for One","name":"Best and Final Offers in Sydney: What Buyers Should Do When an Agent Asks for One","description":"Navigating multiple offers on Sydney properties can be daunting. Buyers should assess property value, establish a budget before negotiations, and be cautious when increasing offers. Understanding terms and maintaining clear communication with agents is critical. Ultimately, knowing when to walk away can save buyers from overpaying in emotionally charged situations.","datePublished":"2026-08-19","dateModified":"2026-08-19","author":{"@type":"Person","@id":"https:\/\/truthgroup.com.au\/author\/nicholasparpistruthpropertycomau\/#Person","name":"Nicholas Parpis","url":"https:\/\/truthgroup.com.au\/author\/nicholasparpistruthpropertycomau\/","identifier":216551164,"image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/f6058d552df68dbaf53120d13f9e89fc9834e3e1ba22039065b40df84bd9df29?s=96&d=identicon&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/f6058d552df68dbaf53120d13f9e89fc9834e3e1ba22039065b40df84bd9df29?s=96&d=identicon&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Truth Group Pty Ltd","logo":{"@type":"ImageObject","@id":"https:\/\/truthgroup.com.au\/wp-content\/uploads\/2026\/02\/TRUTH-GROUP-2.png","url":"https:\/\/truthgroup.com.au\/wp-content\/uploads\/2026\/02\/TRUTH-GROUP-2.png","width":600,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/i0.wp.com\/truthgroup.com.au\/wp-content\/uploads\/2026\/08\/38b7adca-48af-490f-9323-ecd76534db47.png?fit=1672%2C941&ssl=1","url":"https:\/\/i0.wp.com\/truthgroup.com.au\/wp-content\/uploads\/2026\/08\/38b7adca-48af-490f-9323-ecd76534db47.png?fit=1672%2C941&ssl=1","height":941,"width":1672},"url":"https:\/\/truthgroup.com.au\/2026\/08\/19\/best-and-final-offers-in-sydney-what-buyers-should-do-when-an-agent-asks-for-one\/","video":{"@context":"http:\/\/schema.org\/","@type":"VideoObject","@id":"https:\/\/www.youtube.com\/watch?v=-Q3jBq_nV6M#VideoObject","contentUrl":"https:\/\/www.youtube.com\/watch?v=-Q3jBq_nV6M","name":"Best & Final Offer in Sydney? Don\u2019t Overpay | Buyer\u2019s Agent Tips","description":"Asked to submit your best and final offer on a Sydney property?\n\nBefore automatically adding another $5,000, $10,000 or $20,000, ask yourself one important question:\n\nWhat has actually changed?\n\nA selling agent represents the vendor. Being told there are multiple buyers does not automatically mean you should increase your offer.\n\nIn this video, Nicholas Parpis from Truth Group explains:\n\n\u2022 What \u201cbest and final offer\u201d means in Sydney property negotiations\n\u2022 Why buyers can end up negotiating against themselves\n\u2022 Why comparable sales and property condition matter\n\u2022 Why setting your maximum price before negotiations is important\n\u2022 When holding your current offer may make sense\n\u2022 Why sometimes walking away is the better deal\n\nYour current offer can be your best and final offer.\n\nIf you\u2019re buying property in Sydney and want professional buyer representation with property assessment, comparable-sales analysis, negotiation or auction support, speak with Truth Group.\n\nDiscuss My Property Search: truthgroup.com.au\nTruth Group | Sydney Buyer\u2019s Agent & Mortgage Broker\nBuy Smarter. Borrow Better.\n\nGeneral information only. Property, legal and finance decisions should be considered in light of your individual circumstances.\n\n#sydneyproperty  #buyersagentsydney  #sydneyrealestate  #propertynegotiation  #BestAndFinalOffer #SydneyHomeBuyer #propertybuyingtips  #buyersagentaustralia  #nswproperty  #TruthGroup","thumbnailUrl":["https:\/\/i.ytimg.com\/vi\/-Q3jBq_nV6M\/default.jpg","https:\/\/i.ytimg.com\/vi\/-Q3jBq_nV6M\/mqdefault.jpg","https:\/\/i.ytimg.com\/vi\/-Q3jBq_nV6M\/hqdefault.jpg","https:\/\/i.ytimg.com\/vi\/-Q3jBq_nV6M\/sddefault.jpg","https:\/\/i.ytimg.com\/vi\/-Q3jBq_nV6M\/maxresdefault.jpg"],"uploadDate":"2026-08-19T11:11:16+00:00","duration":"PT1M5S","embedUrl":"https:\/\/www.youtube.com\/embed\/-Q3jBq_nV6M","publisher":{"@type":"Organization","@id":"https:\/\/www.youtube.com\/channel\/UCl_CSrwS5ltS8cuq5VYEvxg#Organization","url":"https:\/\/www.youtube.com\/channel\/UCl_CSrwS5ltS8cuq5VYEvxg","name":"Truth Group Pty Ltd","description":"Truth Group is a Sydney Buyers Agent and Mortgage Broker helping home buyers, first home buyers and property investors make smarter property decisions.\n\nI\u2019m Niko, a licensed Buyers Agent based in Sydney, helping clients find the right property, negotiate confidently and structure their finance correctly.\n\nOn this channel you\u2019ll discover:\n\n\ud83c\udfe1 Sydney Buyers Agent advice\n\u2022 What properties are really worth\n\u2022 Sydney suburb comparisons\n\u2022 Auction and negotiation strategies\n\u2022 First home buyer tips\n\u2022 Property buying mistakes to avoid\n\n\ud83d\udcb0 Mortgage & Finance Guidance\n\u2022 Home loans and refinancing\n\u2022 Borrowing power strategies\n\u2022 Preparing to buy property\n\u2022 Understanding lender requirements\n\nWe help clients with:\n\u2705 Established homes\n\u2705 House & land packages\n\u2705 Investment properties\n\u2705 Residential & commercial property\n\u2705 Home loan solutions\n\nServing Sydney and Australia-wide.\n\n\ud83d\udccd Hoxton Park, Sydney\n\ud83c\udf10 truthgroup.com.au\n\nSubscribe for weekly Sydney property insights, buyer strategies and finance tips.\n","logo":{"url":"https:\/\/yt3.ggpht.com\/6cfbKmHc32AQQ7Jvy8Uk8-gTgkKgXKQ-ntmPlJQwqFyRcDmR-1UVKvPvSqhmucy6vnM6a5UNSz4=s800-c-k-c0x00ffffff-no-rj","width":800,"height":800,"@type":"ImageObject","@id":"https:\/\/www.youtube.com\/watch?v=-Q3jBq_nV6M#VideoObject_publisher_logo_ImageObject"}},"potentialAction":{"@type":"SeekToAction","@id":"https:\/\/www.youtube.com\/watch?v=-Q3jBq_nV6M#VideoObject_potentialAction","target":"https:\/\/www.youtube.com\/watch?v=-Q3jBq_nV6M&t={seek_to_second_number}","startOffset-input":"required name=seek_to_second_number"}},"about":["Latest Post"],"wordCount":1553,"articleBody":"Best & Final Offer in Sydney? Don\u2019t Overpay | Buyer\u2019s Agent Tips Watch this video on YouTube.You have found a property you like, made an offer and then receive a call from the selling agent:\u201cWe have multiple interested buyers. Please submit your best and final offer.\u201dFor Sydney property buyers, this can quickly create pressure.You may start wondering:How many other offers are there?Is someone actually above me?How much should I increase my offer?Will another $5,000 or $10,000 secure the property?Should I simply give the agent my absolute maximum?What happens if I refuse to increase?A best and final offer should not be treated as an invitation to keep bidding against yourself.Before changing your offer, you need to understand the property, the comparable sales, your maximum price and the terms you are prepared to accept.What Does \u201cBest and Final Offer\u201d Mean?A \u201cbest and final offer\u201d usually means the selling agent is asking interested buyers to submit the strongest offer they are prepared to make.It is commonly used when there are multiple interested buyers or when the vendor wants to bring negotiations to a decision.It does not necessarily mean there will be no further negotiation.In NSW, a property is generally not secured simply because a vendor has verbally accepted an offer. Before contracts are exchanged, the vendor may continue negotiating with other buyers and may ultimately sell to someone else.That is one reason buyers need to separate the excitement of having an offer \u201caccepted\u201d from actually securing the property.Does the Agent Have to Tell You the Other Offers?Do not assume the selling agent will tell you exactly what another buyer has offered.You may be told:\u201cAnother buyer is higher.\u201d\u201cWe have several strong offers.\u201d\u201cThe vendor wants everyone\u2019s best and final.\u201dThat does not automatically tell you what the property is worth or what you should offer.The selling agent represents the vendor, not you as the buyer. Their role is to act for the seller in the transaction.Your offer therefore needs to be based on your own assessment of the property rather than simply reacting to what the selling agent tells you.Step 1: Work Out What the Property Is Worth to YouBefore increasing your offer, review the evidence.Look at genuinely comparable recent sales, including:similar property typeland or internal sizenumber of bedrooms and bathroomsparkingcondition and renovationsstreet and exact locationschool catchments where relevantstrata features for apartmentsviews, aspect and floor leveldevelopment or planning considerationsother factors that may materially affect valueA nearby sale is not automatically a good comparable.A renovated house on a superior street may not be a reliable comparison for an unrenovated property on a busier road.The same applies to apartments. Two units in the same suburb can sell very differently depending on the building, floor level, outlook, parking, strata condition and layout.NSW underquoting requirements also recognise comparable sales and property characteristics as relevant evidence when agents determine estimated selling prices.Step 2: Set Your Maximum Before the Pressure BuildsOne of the most important things a buyer can do is establish a maximum price before entering the final stage of negotiation.Your maximum should reflect:Property valueWhat does the available evidence suggest?Your financial positionWhat can you comfortably afford?Finance considerationsCould a lender value the property differently from the price you agree to pay?Your alternativesAre there other suitable properties available?Your personal circumstancesHow important is this particular property compared with other options?Your maximum should not simply become:\u201cWhatever it takes to beat the other buyer.\u201dThat is how emotion can turn a sensible purchase into an expensive one.Step 3: Do Not Automatically Increase Your OfferBeing asked for a best and final offer does not mean you have to increase.Imagine you offered:$1,100,000and you believe the property is reasonably worth between approximately $1.08 million and $1.11 million based on the available evidence.If the agent asks for your best and final offer, increasing immediately to $1.15 million simply because another buyer exists may not make sense.Your existing offer may already be your best offer.You can tell the agent that your current offer stands.Sometimes the correct negotiation move is not moving at all.Step 4: Consider the Terms, Not Just the PricePrice is important, but it is not always the only consideration for a vendor.Depending on the circumstances, an offer may also involve:proposed settlement perioddeposit arrangementsfinance statustiming of exchangecontract amendmentscooling-off arrangementsinclusions or exclusionsother conditionsYou should have the contract reviewed by your solicitor or licensed conveyancer before committing to legal terms. NSW Government guidance recommends obtaining the sale contract early and having it examined before proceeding.Do not waive legal protections merely because you believe it will make your offer more attractive without first receiving appropriate legal advice.Step 5: Put Your Offer in WritingWhere practical, submit your offer in writing.This creates a clear record of:the price offeredany conditionsproposed settlementdeposit arrangementsexpiry or timing of the offer, where applicableNSW Government guidance notes that putting an offer in writing can help buyers keep track of negotiations.You can also ask the agent to confirm that your offer has been presented to the vendor.What If the Agent Says Another Buyer Is Higher?You have several choices.Increase your offerIf the property still represents acceptable value and you have room within your predetermined maximum, increasing may be reasonable.Hold your positionIf you believe your offer already reflects fair value, you can leave it where it is.Change your termsDepending on the vendor’s priorities, there may be circumstances where settlement timing or other acceptable terms strengthen an offer without increasing the price.Walk awayThis option is often underestimated.If securing the property requires you to substantially exceed what the evidence supports or what you are comfortable paying, walking away may be the better financial decision.There will be another property.There may not be another opportunity to recover money unnecessarily paid because of an emotional negotiation.Can the Vendor Accept a Lower Offer?Yes.A vendor does not necessarily have to accept the highest offer.NSW Government guidance notes that vendors may accept a lower offer from another prospective purchaser and generally are not compelled to sell to a particular buyer before exchange.For example, a seller may prefer an offer with terms that suit their circumstances better.This is why the strongest offer is not always simply the largest number.What Happens After the Vendor Accepts Your Offer?Do not assume the property is secured.Until contracts are exchanged, another buyer may still make an offer and the vendor may decide to proceed with them instead. This is commonly referred to as gazumping.If your offer is accepted, speak with your conveyancer or solicitor promptly about:contract reviewexchangecooling-off arrangementsdeposit requirementsoutstanding due diligencebuilding and pest inspections where relevantstrata investigations where relevantYour mortgage broker or lender should also be kept informed where finance is required.A Common Mistake: Negotiating Against YourselfSuppose you offer:$950,000The agent responds:\u201cWe need your best and final.\u201dYou immediately increase to:$970,000But you do not actually know whether another buyer offered $951,000, $965,000 or anything above your original offer.You may have just increased your own purchase price by $20,000 without knowing whether it was necessary.That does not mean you should never increase your offer.It means every increase should have a reason.Ask yourself:What new information has changed my assessment?If there is no new information other than pressure, think carefully before moving.How a Buyer\u2019s Agent Can Help During Multiple-Offer NegotiationsA buyer\u2019s agent represents the purchaser rather than the vendor.When there are competing offers, buyer representation may include:analysing recent comparable salesassessing the property against available market evidenceidentifying factors that may affect value or resalehelping establish a disciplined maximum pricecommunicating directly with the selling agentdeveloping an offer and negotiation strategycoordinating with your solicitor, conveyancer or mortgage brokerhelping remove emotion from the decisionadvising when continuing to compete may no longer make senseThe objective should not be to win every property.The objective is to buy the right property at a price and on terms you are comfortable accepting.Sometimes securing the property is the right outcome.Sometimes walking away is the better deal.Already Found a Sydney Property?If you have found a property and are unsure how to approach the negotiation, or you want professional representation throughout your Sydney property search, Truth Group can assist.Work directly with Nicholas Parpis throughout the buying process, including property assessment, comparable-sales analysis, due diligence coordination, negotiation and auction support depending on the service you engage.Explore Sydney Buyer\u2019s Agent ServicesView Buyer\u2019s Agent FeesDiscuss My Property SearchFull-service residential buyer representation starts from $9,500 + GST for purchases up to $1.5 million.Truth GroupBuy Smarter. Borrow Better.This article provides general information only and does not constitute legal, financial or property advice specific to your circumstances. Contract terms, cooling-off rights and other legal matters should be discussed with a qualified solicitor or licensed conveyancer before you proceed."},{"@context":"https:\/\/schema.org\/","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"2026","item":"https:\/\/truthgroup.com.au\/2026\/#breadcrumbitem"},{"@type":"ListItem","position":2,"name":"08","item":"https:\/\/truthgroup.com.au\/2026\/\/08\/#breadcrumbitem"},{"@type":"ListItem","position":3,"name":"19","item":"https:\/\/truthgroup.com.au\/2026\/\/08\/\/19\/#breadcrumbitem"},{"@type":"ListItem","position":4,"name":"Best and Final Offers in Sydney: What Buyers Should Do When an Agent Asks for One","item":"https:\/\/truthgroup.com.au\/2026\/08\/19\/best-and-final-offers-in-sydney-what-buyers-should-do-when-an-agent-asks-for-one\/#breadcrumbitem"}]}]