Read the Deal Behind the Deal

Why would a seller turn down a higher offer and accept a lower one on the same afternoon? Usually because the lower offer fits the deal behind the deal, the part of a sale that lives in people's circumstances rather than in the price.

The higher offer might depend on the buyer selling their own house first, a suspensive condition that can leave the seller waiting for months with no certainty at all. The lower one might come from a buyer whose bond is already approved in principle. For a seller whose bank has already issued a settlement figure, or who has signed for a new home elsewhere, certainty can be worth more than the difference in price.

The same applies on the selling side. A house in a deceased estate is sold by the executor, who may need the consent of the heirs or the Master and has to answer to the family, so the timeline and the room to move on price can look very different from an owner selling for themselves.

None of this is printed on the front page of the offer. It shows up in the conditions, the dates and the questions people ask, and the agent who reads those well is far less surprised when a sale changes shape.