“Wait. I thought this was a buyer’s market. Why are there three offers on this house?”
That is a completely reasonable question, and it gets at one of the biggest misunderstandings in real estate.
A citywide market can favor buyers while one particular house attracts immediate competition.
Think of an established Plano neighborhood with mature trees, a useful floor plan, a desirable lot and a price that makes sense.
Put that home on the market in excellent condition, and buyers may notice quickly—even when another home a few streets away has been sitting for two months.
The September 2026 Plano market had a median 49 days on market and 920 active listings, down 17.8% from a year earlier. Homes sold for about 99% of asking price on average, according to Realtor.com. Realtor
Those figures provide context, not a prediction for any individual listing.
For move-up buyers, the question is not “How do I win at any cost?”
It is “How do I make an offer that is attractive to the seller and still responsible for my family?”
Here is how I approach that conversation.
1. First, Decide Whether the House Deserves a Competitive Offer
Not every listing deserves urgency.
Before talking price, we look at recent closed sales, current alternatives, property condition and the specific features that make this home different.
In Plano, the difference between two similarly sized homes can be substantial.
One may have a functional downstairs suite, a quieter street or a lot that would be hard to replace.
If the house checks your most important boxes and the asking price is supported by evidence, competing may be reasonable.
If you are simply reacting to someone else’s interest, that is not a strategy.
I want buyers to be excited about a home—not swept up in a contest.
2. Establish Your Comfortable Ceiling Before Hearing the Other Offers
This is the number I want you to decide when you are calm.
Your ceiling is not necessarily the maximum a lender will approve.
It is the price that leaves enough room for taxes, insurance, repairs, family expenses and the rest of your life.
For a move-up buyer, it also needs to reflect a conservative estimate of proceeds from selling the current home.
Write down the highest price that still makes sense to you.
Then decide what would have to be true about the property to justify that amount.
The other buyer’s offer should not rewrite your household budget.
3. Get the Financing Conversation Finished Early
A seller evaluating several offers wants to know which buyer can actually close.
That is why I encourage buyers to speak with their lender before they find the perfect house, not afterward.
Ask whether the lender has reviewed income, assets, credit and any special circumstances.
Find out which documents remain outstanding and how quickly the lender can realistically close.
A preapproval is useful, but it is not a guarantee of final loan approval.
If you are keeping your existing home until after the purchase, ask the lender how both obligations will be treated.
If you must sell first, we need a realistic plan for that contingency.
A confident financing story can be more persuasive than an impressive price with unresolved questions.
4. Ask What Matters to the Seller—Without Making Assumptions
Sometimes the seller wants the highest net price.
Sometimes they need a particular closing date.
Sometimes they want extra time to move.
Sometimes they care most about minimizing the chance of a failed transaction.
The listing agent may be able to share the seller’s stated preferences, subject to the seller’s instructions.
We can use that information to propose a closing date, possession arrangement or other terms that fit both sides.
But we should never invent a story about the seller’s personal circumstances or assume a heartfelt letter will help.
Personal letters can create fair-housing concerns.
I prefer offers that stand on financial and contractual merit.
5. Understand What an Option Period Really Protects
Texas resale contracts often include a negotiated termination option.
When properly completed and paid for, it generally allows the buyer to terminate for any reason during the agreed period.
That is valuable time for inspections and a serious evaluation of the property.
In a multiple-offer situation, a shorter option period may appeal to a seller.
But shortening it only helps if your inspector and other professionals can complete the work on time.
Waiving an inspection opportunity simply to appear bold can expose you to expensive surprises, especially in an established Plano home.
We can negotiate intelligently without treating due diligence as disposable.
The Texas Real Estate Commission’s explanation of the option period provides additional guidance.
6. Earnest Money and Option Fees Are Not Just Decorative Numbers
These terms signal commitment, but they also create real obligations.
Under the applicable Texas Real Estate Commission resale contract, earnest money and the option fee generally must be delivered to the escrow agent within three days after the effective date, subject to the contract’s weekend and holiday provisions.
Failing to deliver the option fee on time can cost the buyer the unrestricted termination right.
We should choose amounts deliberately, understand when funds could be lost and put the delivery deadlines on the calendar immediately.
There is nothing strategic about offering terms you cannot comfortably perform.
You can review the TREC guidance on option-fee delivery.
7. Treat an Appraisal Gap as a Cash Decision
Offering above asking price is not the same as offering above appraised value.
If the lender’s appraisal comes in below the contract price, the transaction may require additional cash, renegotiation or a decision under the applicable contract and financing addendum.
Before agreeing to any appraisal-related limitation or waiver, ask the lender exactly how much additional cash you might need and discuss the contractual consequences.
Do not confuse available equity in your current house with cash that will definitely be accessible by closing.
An appraisal gap can be manageable.
An unplanned one can derail a move.
8. Make the Offer Clean, Complete and Easy to Evaluate
A strong offer is not necessarily a complicated offer.
Correct names, accurate financing information, clearly completed forms, realistic dates and prompt communication all matter.
I want the listing agent to understand the terms without chasing missing details.
I also want the seller to see that our lender, title process and timing have been thought through.
A clean offer reduces uncertainty.
And in a multiple-offer situation, reducing uncertainty may be more valuable than another small increase in price.
9. Do Not Assume You Will Get a Second Chance
A seller may review multiple offers simultaneously and choose one without countering the others.
Texas Real Estate Commission guidance confirms that sellers may consider and negotiate several offers at the same time. TREC
A buyer should not assume the listing agent will reveal competing terms or invite everyone to improve.
That means we should submit an offer we can stand behind the first time.
It does not mean abandoning our ceiling.
It means being clear about our priorities before the deadline arrives.
10. Consider the Cost of Winning
Suppose you stretch well beyond the comparable sales, waive meaningful protections and empty your reserves to buy the house.
You may win the offer.
But what happens when the roof needs work, your current home takes longer to sell or insurance costs more than expected?
That is not the kind of victory I want for my clients.
The right purchase should support your next chapter, not consume all the flexibility that made you want to move in the first place.
11. If You Lose, Learn Something Useful
I know losing a house is disappointing, especially when you have already pictured the holidays there.
But one lost offer does not mean you need to change your entire strategy.
We look at what we know.
Was our price supported?
Were the terms competitive?
Did the seller need something we could not reasonably provide?
Was the property simply more valuable to another buyer?
Sometimes the right lesson is to prepare more thoroughly.
Sometimes it is to refine the search.
And sometimes the lesson is that walking away was the smartest decision we made.
12. Remember That “Buyer’s Market” Describes the Big Picture
In September, Realtor.com characterized Plano overall as a buyer’s market.
Yet its active inventory was down sharply year over year. Realtor
That combination is a reminder that broad labels do not tell the whole story.
A well-priced, well-maintained home with an uncommon combination of features may still attract multiple offers.
The goal is to recognize when competition is justified, not to compete automatically.
My approach for Plano move-up buyers is straightforward:
Know the numbers.
Understand the contract.
Prepare the financing.
Find out what matters to the seller.
And keep your family’s financial comfort at the center of the decision.
I would rather help you lose the wrong house than win one that becomes a burden.
When we find the right fit, we will make the strongest responsible offer we can.
Kelly Vaughan
The Vaughan Team | Brokered by Keller Williams McKinney
Clarity, compassion, and a plan for what’s next.