Question: Can A Realtor Tell You What Other Offers Are?

A: With your written permission, the Realtor should be able to tell each purchaser about the other offer.

Your Realtor is to be obedient as long as it is within the scope of the law.

Are Realtors allowed to disclose offers?

Answer: Yes, the Code of Ethics requires disclosure of accepted offers. Standard of Practice 3-6 provides a well-defined standard on this: “REALTORS® shall disclose the existence of accepted offers, including offers with unresolved contingencies, to any broker seeking cooperation.”

Do Realtors lie about other offers?

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.

Does a Realtor have to disclose multiple offers?

Your Realtor will usually inform you when he or she learns that a multiple offer situation exists. The seller may have given instructions to the listing agent not to divulge to the Realtors acting for potential buyers that multiple offers exist – therefore, other offers may exist that you are not aware of.

Can you see other offers on a house?

There Are Other Offers On The House

Unfortunately, listing agents won’t tell your buyer agent what those other offers are. When that accepted offer falls through, you can bet that the listing agent will call every buyer agent who submitted an offer and request a new one.

What is considered a lowball offer?

By strict definition, a lowball offer is one that is significantly below market value. In practice, an offer is considered “lowball” if it is significantly below a seller’s asking price. At what prices are similar homes offered?

Do Sellers usually accept first offer?

Real estate agents often suggest that sellers either accept the first offer or at least give it serious consideration. Real estate agents around the world generally go by the same mantra when discussing the first offer that a seller receives on their home: “The first offer is always your best offer.”

Why do Realtors lie?

Lies About Brokerage Fees

It’s likely that if an agent is telling this lie it’s because they haven’t proven enough value in what they provide a home seller to prove their commission and need to make it seem like commissions are a fixed amount.

Can a seller decline a full price offer?

No. A seller is not bound to accept any offer, even at full price. However, your seller could be in breach of your listing agreement by refusing to accept the full-price offer.

What if a seller won’t budge?

If the seller will not budge on price, you could be out the inspection and appraisal fees with nothing to show for it. Try offering fair market value. Some sellers price their home high hoping to find “the greater fool,” yet they know what the fair market value is and will sell for that if it is offered.

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.

How do you win a House bid?

Here are 9 strategies that can help you win a bidding war:

  • If you can afford it, pay cash.
  • If you need financing, get preapproved.
  • Understand the market.
  • Make the first move.
  • Make an extra-large deposit.
  • Don’t be nitpicky.
  • Make it personal.
  • Include an escalation clause.