Can Agents 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.

One of the problems with agents is they lie so much its essentially impossible to assume they are telling the truth or to assume they are lying.

Can an agent lie about an offer?

But most of the time, if there’s another offer, there’s probably another offer for real. No one said it was better than yours though… Agents can legally lie about everything and anything that involves the sale event of real property. YOU AS THE SELLER OR BUYER ARE ACCOUNTABLE for EVERYTHING, NOT THEM.

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.

Should estate agents disclose offers?

Legally, agents in NSW are allowed to disclose current offers to any other potential buyers. Agents are required to inform the seller of all offers made to purchase the property, but there is no law to prohibit the disclosure of offers to potential buyers.

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 is highest and best offer in real estate?

Highest and best is when a seller receives more than one offer on a property, and they decide to give everyone a chance to submit there best offer. In the seller’s formal request, the seller gives each buyer a chance to raise their offer and a date and time all offers must be received by the seller.

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.

Can Realtor tell you other offers?

If the agent is in this position, I would ask agent to inform both buyers there are multiple offers and each buyer needs to submit their best and final offer. A: With your written permission, the Realtor should be able to tell each purchaser about the other offer.

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.

Why do real estate agents lie?

The Lie: Overquoting

Advise owners that their property is worth more than it actually is. Why they tell it: Sales are based on commissions, so it’s technically in the interest of a real estate agent to sell a property for as much money as possible.

In which circumstances is disclosure not required?

A: Some states require just about all sellers to provide a seller disclosure form to a buyer, but in some cases, a seller is not required to deliver the disclosure. For example, if the seller’s home is part of an estate or a foreclosure sale by a sheriff or court, a seller disclosure form may not be required.

Can you trust a real estate agent?

A career means longevity and these agents will generally be more business-like and ethical than agents of old. That does not, however, necessarily mean you can trust your residential real estate agent. So, like any profession paid by commission, the agent has a strong incentive to see you close a deal.