EOI Campaigns: Avoid bidding against yourself this April

Expressions of Interest (EOI) campaigns are a common tool in real estate, especially when the buyer pool is limited. They’re designed to get the best possible price for a property by keeping buyers in the dark about their competition. But if you don’t know how to navigate them, you could end up bidding against yourself – without even realising it.

With the market coming back slowly, we’re seeing EOI campaigns creeping in – particularly Bayside where there isn’t a lot of buyer depth just yet. So why do they exist, and how do you navigate them so you come out on top?

Why Do EOI Campaigns Exist?

EOIs work because they eliminate price visibility. Unlike an auction, where you can see your competition, an EOI campaign asks buyers to submit their best offer by a deadline, without knowing what others have put forward. This approach benefits the seller by:

• Creating urgency and fear of missing out (FOMO)
• Encouraging buyers to stretch their budget in an attempt to ‘win’
• Keeping the final sale price confidential

How EOIs Can Work Against You

EOIs are tricky to navigate, as there can be a lot of assumptive terminology used to reduce transparency. And the worst outcome of this is when you’re unwittingly placed in a situation where you are bidding against yourself.

Here’s what you might hear:

• “We’re waiting for all offers to come in.” – But are there actually multiple offers?
• “You have the last right of reply.” – But is there a real competing buyer or just a push for you to increase?
• “We need all offers in by 2 PM.” – But is that an actual deadline, or just a tactic to create urgency?

A lot of agents are upfront and transparent, but many rely on assumptive language. If you don’t ask, they haven’t technically misled you—but you may still be playing against an invisible opponent.

How to Take Control

It is really important to verify if there is a legitimate competitor bidding against you. And you are within your rights to ask for proof of this.

• Request transparency – If another buyer exists, ask for proof or a more open process.
• Suggest a team auction – This brings offers into the open so buyers can compete fairly.
• Request a public auction – If the seller is confident in the demand, this puts all buyers on an even playing field.

EOIs can be a smart selling strategy when buyer depth is low, but as a buyer, it’s crucial to stay sharp. Ask the right questions, avoid emotional bidding, and ensure you’re not negotiating against yourself.

Would you like help navigating your next property purchase? Let’s chat.

Prepare in April to Buy in May

With Easter and Anzac Day upon us, we won’t see many auctions until after these events pass. It makes it a good period to get ready as we anticipate May will be busy. Melbourne is undervalued right now and people are going to start to capitalise on that. April is a time to try to see what is coming up off-market, pre-market and to get your affairs in order.

Lauren Staley
Managing Director
Infolio Property Advisors.