Your agent meets with the prospective purchaser to write up an offer and acceptance and any special conditions which may form part of the contract. These conditions could be a finance clause, structural report, items that remain with the property following settlement etc. The agent will then commence negotiation on price. They should negotiate the best possible offer from the buyer. This will likely involve some ‘back and forth” between the agent and the owners and the agent and the buyers until such time the best purchase price is reached.
If the owners are happy with the final offer, then all parties sign and initial the offer and acceptance document. Once the purchaser has been informed their offer has been accepted the document becomes a legally binding contract.