What happens if a property receives multiple offers?

Multiple offers occur typically in seller markets, where several offers all come in at once to the seller. In this type of situation the buyer has little to no control unfortunately. However a buyer can make their offer stand out more from other offers by offering a higher earnest money deposit, willingness to work with seller’s timeframe, shorten or waive contingencies, etc. The seller may counter all offers to see which buyer has the best pricing, terms and conditions before accepting the final one. While multiple offers can be exciting for sellers they can be overwhelming at times for all parties involved (including the real estate licensee).