How to Make an Offer on a House

Making an offer on a house can be one of the most nerve-wracking steps in your first home-buying journey. In Episode 72 of the Your First Home Buyer Guide Podcast, hosts Veronica and Meighan draw on almost 50 years of combined experience as buyer's agents to reveal the dos and don'ts of making an offer. They share real stories of the mistakes first home buyers often make—from lowballing and overbidding to misreading the seller's motivations—and how to avoid falling into these traps. This episode is a must-listen for anyone wanting to approach offers with strategy, confidence, and a clear understanding of what works in the Australian property market.
 

Why Knowing "How" to Make an Offer Matters
Most buyers focus solely on how much to offer, forgetting that the way you present your offer is just as crucial. Veronica and Meighan explain that every state in Australia has different rules and procedures, and even agents handle offers differently. A lack of understanding around this process can lead to missed opportunities or, worse, overpaying. In this episode, you'll discover how the "how" can make or break your chance of securing the property you want.

Common Buyer Mistakes with Offers
The hosts share the most common—and avoidable—errors that first home buyers make, including lowball offers that insult sellers, blind trust in seller stories, or failing to prepare for unconditional contracts. You'll learn why a "take it or leave it" offer, when used incorrectly, can backfire, and how emotional decision-making often sabotages a buyer's success.

Understanding Seller Motivations (and Why They're Overrated)
A classic mistake buyers make is obsessing over why a property is being sold, hoping to find a bargain. Veronica and Meighan emphasise that while it's okay to ask, the answers are often scripted and rarely useful. Instead of building stories around the seller's situation, buyers should focus on market data, competition, and a strong negotiation plan.

The Truth About Lowball Offers
"Go in low and negotiate up" is advice many buyers hear from family or friends, but it's not always the smartest move. Lowball offers can offend the seller, alienate the agent, and reduce your chances of being taken seriously. Veronica and Meighan explain when a lower offer might work—and when it will only sabotage your chances.

Overbidding and Buyer's Remorse
Going in too high can be just as damaging as going too low. Buyers often overbid out of fear of missing out (FOMO) or due to poor market research, only to regret their decision later. The hosts share how to strike the right balance by using context, clear communication, and an evidence-based price range to ensure your offer is competitive but not excessive.

Timing Your Offer (Especially Around Auctions)
One of the most strategic decisions you'll make is when to place your offer. Veronica and Meighan dive into the nuances of timing—why early offers sometimes fail, how auction campaigns differ across states, and when it's actually better to wait. They also discuss the "sweet spot" for pre-auction offers and how reading the market dynamics can help you avoid becoming the seller's price-setter.

Avoiding Emotional Traps in Negotiation
Property negotiations are as much about managing emotions as they are about numbers. Veronica and Meighan discuss why buyers often underestimate the skill of experienced real estate agents, who are trained to read emotions and push buyers' limits. You'll learn why separating emotion from strategy—and even having a professional negotiate for you—can give you a significant advantage.

The Risks of Being Unprepared
The hosts share stories of buyers who thought they were ready to make an unconditional offer, only to discover they hadn't reviewed contracts or organised the necessary legal documents. These situations frustrate agents, weaken a buyer's credibility, and can result in losing the property altogether. This episode explains how to prepare properly, including working with a solicitor or buyer's agent.

Building Your Negotiation Toolkit
To successfully make an offer on a house, you need more than just a number—you need a negotiation strategy. Veronica and Meighan highlight the importance of having a "toolkit" of responses to common agent questions, knowing when to reveal your hand, and understanding when to hold firm. By preparing your own "script and dialogue," you can avoid giving away too much while still staying in the running.

👉 Ready to get started? Check out THE First Home Buyer Course.

Episode Highlights:
1. Asking the seller their reason for selling the property [03:34]
2. Getting property advice from... Dad [08:28]
3. Why getting a real estate team is important [10:18]
4. Cornering yourself into buyer's remorse [14:16]
5. Making an early offer on a property [15:36]
6. Not being prepared to engage in the market [20:25]
7. Relying on the agent to coach you through the process [24:50]
8. Is knowing how to make an offer enough? [27:53]
If you enjoyed today's podcast, don't forget to subscribe, rate and share the show! There's more to come, so we hope to have you along with us on this journey!
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Learn how to buy your first home without making avoidable mistakes.
  Co-Founders

Veronica Morgan & Meighan Wells 

Veronica & Meighan are both licensed real estate agents who exclusively help buyers. Together they have nearly 40 years experience as property professionals.

Veronica is principal of Sydney based Good Deeds Property Buyers and is also co-host of The Elephant in the Room property podcast as well as Location Location Location Australia on Foxtel and author of Auction Ready: how to buy property at auction even though you're scared s#!tless!

Meighan is the multi award winning principal of Brisbane based Property Pursuit, chairperson of the REIQ Buyers Agent Chapter & a regular media commentator.