As everyone else has said, yes they can lie about other offers but if you have an escalation clause that is being used, they need to present the other offer if requested.
Do you have to disclose multiple offers?
Standard of Practice of the REALTOR® Code of Ethics states that the existence of offers should only be disclosed with the seller’s consent. The seller alone determines whether one or more of the prospective buyers will be informed that there are multiple offers.
How do you know if a Realtor is lying?
Here are 17 lies your real estate agent might tell you.
- That wall probably isn’t load-bearing.
- This neighborhood is ‘up and coming’
- My commissions aren’t negotiable.
- Open houses are beneficial to the seller.
- I have potential buyers that would love your house if you list with me.
- This home needs only $10,000 of work.
Can estate agents disclose offers?
When an offer is made for a property, the estate agent must pass it to the seller promptly and in writing, except those which the seller has told the estate agent not to be passed on – for example, all those below a certain price. The estate agent does not have to give you details of other offers they have received.
Can a seller look at multiple offers?
You can write the best offer in the world but a competent listing agent is likely to advise the seller to counter all the multiple offers, even in a buyer’s market. Sellers don’t have to make identical counteroffers in some states. The seller also retains the right to choose or reject accepted multiple counteroffers.
What happens when multiple offers are made on a house?
When there are multiple offers, the seller typically takes one of three actions: Accepts the most favorable offer. Counters all offers to give everyone a chance to come back with a better bid in an effort to get the best price and terms. Counters the offer closest to the price and terms the seller’s seeking.