I understand offers come in on bank-owned properties and the listing Realtor submits those offer to the asset manager and the asset manager holds on to the offers for several days (or weeks in some cases) waiting for higher offers to come in.  What I find in some cases, is the listing Realtor will tell a fellow Realtor representing the buyer, there are multiple offers in on the property but will not reveal any information of what the offers are.  I understand to a certain degree that they represent the seller and their best interest, but refusing to give me an idea of what my buyer should come in at is a disservice to my buyer.  How am I supposed to advise my buyer to come in X amount higher than the listed price if my simple question of "Do you have any offers higher than the asking price" is not answered by the listing Realtor?  How can the listing Realtor not understand that simply saying yes or no to this question is vital?  I am not asking "What is your highest offer."  I just want a yes or no answer.  It baffles me the listing Realtor does not understand this concept.  Of course, my buyer will just skip this property all together and will not bother putting in an idle offer. 

I am not saying all listing agents representing REO properties do not understand this concept because there are many saavy Realtors who are willing to give a buyer's agent just enough information so they know how to advise their buyer.  This type of Realtor understands business and how to get things done.  To the others who think keeping your offers secret, open your mind and think logically how to help get your client the most money for their properties!

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