As a home buyer, what can I expect when there are competing offers on a home?

During a bidding competition, the listing brokerage must disclose the number of active offers on a property, whether any of the buyers are represented by the listing brokerage, and whether any offers include a commission adjustment that the seller would pay to the buyer’s brokerage. These disclosures help ensure an equitable opportunity for all buyers. The seller can accept or reject your offer, make a counter-offer, or even give one or more buyers an opportunity to “improve” their offers.