Quick Answer: Do Realtors Lie About Other Offers?

Yes, they can lie.

Realtors—a subset of real estate agents—are forbidden by their Code of Ethics from lying, though some do.

We’ve had a lot of interest, and I don’t expect the property to be on the market through the end of the weekend.

Someone was in here this morning who said he planned on writing up an offer.

Are Realtors allowed to 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.

Can estate agents tell you other offers?

Estate Agents can’t legally tell you how much the other offers were for, but they will usually indicate if they were close to the asking price, which can help to inform your own decision.”

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.

Can you sue a realtor for lying?

In addition to the lawsuits listed above, you may also be able to sue a real estate agent for lying. However, suing for a lie or misrepresentation is not as simple as it sounds. If the lie was overt, such as the agent claiming that the house has never been remodeled when it actually was, you could have a case.

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.