Highest & Best Explained

What highest and best means

A highest and best call is a listing agent's request, on the seller's instruction, for every interested buyer to submit their strongest terms by a stated deadline. It is not an auction. No offer amount is disclosed, and the seller is not obligated to accept anything.

When to call it

When only one real offer exists, a highest and best call can signal weakness and invite that buyer to walk. Use it when competition is genuine.

• You have two or more competitive offers in hand
• Showing activity is high and offers are still arriving
• Offers differ so much in structure that a clean comparison is impossible
• The seller wants a decision date rather than a rolling negotiation

How to run one fairly

Fairness comes down to three things: everyone gets the same instructions, everyone gets the same deadline, and nobody's terms are revealed to anyone else.

• Notify every buyer agent with an offer at the same moment
• State a hard deadline with a date and time, including time zone
• Tell agents what the seller values beyond price — closing date, occupancy, earnest money, contingency waivers
• Do not share offer amounts, and say so explicitly
• Confirm receipt of each revised offer

What highest and best offer software adds

In OFFRPORTL, calling highest and best takes one click. Every buyer agent with an offer on the listing is notified simultaneously, the deadline is enforced by the portal, and each revised submission is timestamped.

You also set the seller's priorities up front, so revised offers are scored against what the seller actually cares about instead of price alone.

After the deadline

Review the revised offers side by side on net proceeds, present them to the seller, and respond to every participant. A documented, timestamped round is your best protection if a buyer later claims the process was unfair.