Special offer

Are you obligated to disclose other offers to every agent that shows your listing?

By
Real Estate Broker/Owner with Metro Life Homes RS-78439 / BRE #01708344

Are you obligated to disclose other offers to every agent that shows your listing?

I'm kind of tossing this one around, but just wanted to see what other agents think about this.

Are you obligated to inform agents that merely show your listing that there are offers at hand?  If someone asks about offers, then absolutely I tell them how many offers we have.  I don't disclose the details of the offers, but I do state how many we have.

But I'm a little torn on whether or not you inform agents that merely show the listing.  It seems to me that you would be just "blubbering" about something that is meaningless because you don't even know if their clients are interested in the property until they get ready to submit an offer.

I honestly feel that as a buyer's agent, if you want to know if there are offers on the property, then it's your duty to ask, rather than an obligation on the part of the listing agent to just volunteer that information without being asked.

I know there have been instances where agents have complained "Why didn't you tell me that there were other offers?".  My reply would be "You didn't ask".

What are your thoughts?

 

Ralph Gorgoglione


Los Angeles Homes For Sale

Los Angeles Condos For Sale 

Los Angeles Townhomes For Sale

 

Comments(11)

Andrzej Niemyjski
Realty One Group - Sun City West, AZ

I totally agree that as a buyers agent its your responsibility if that property is avialable and if it had any offers but given not all agents ask.  The thing I do is ask for a feedback after showing and just tell them I dont want to put pressure on you or your client but I will be presenting all offers to sellers tonight or tomorrow morning

Sep 30, 2015 01:15 AM
Andrea Swiedler
Berkshire Hathaway HomeServices New England Properties - New Milford, CT
Realtor, Southern Litchfield County CT

Ralph, I can only answer to here in CT. NO, unless the owner has directed us to disclose, in writing by the way, then we cannot disclose any other offers. 

Sep 30, 2015 01:32 AM
Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

Ralph Gorgoglione Unless specifically asked, we are not required to even notify, unless an offer is placed and there are other offers outstanding. Then a multiple offer addendum is required by all offering agents. Specific, not a chance; this borders on a gray area of divulging confidential information and can be considered a breach of your fiduciary duty to your prinicipal.

Sep 30, 2015 01:49 AM
Sarah Rummage
Benchmark Realty LLC, Nashville TN 615.516.5233 - Nashville, TN
Love Being Realtor® in the Nashville TN Area!

Generally, we follow the seller's instructions.

But if I am showing a buyer, I email or call to see if 'the property is still available.' I want to let the buyer know if it will possibly be a wild goose chase.

And I have made calls to agents getting ready to show a listing of ours if the seller has just accepted an offer and contracted. 

But if we only have an offer, no contract, I don't inform unless asked. 

Sep 30, 2015 02:09 AM
John Meussner
Mortgages in AZ, CA, CO, DE, FL, GA, IN, MD, MN, MT, NC, NJ, NV, OK, OR, PA, SC, SD, TN, TX, UT, VA, WI - Fair Oaks, CA
#MortgageMadeEasy Fair Oaks, CA 484-680-4852

I'd think if a buyer was interested, they'd find out very quickly one way or another if there are other offers.

I don't see it as a listing agent's responsibility to provide this info unless prompted by a query or a multiple offer situation.

Sep 30, 2015 03:05 AM
Gary L. Waters Broker Associate, Bucci Realty
Bucci Realty, Inc. - Melbourne, FL
Eighteen Years Experience in Brevard County

I always ask if there are written offers. I want my buyers to know the status if we are looking. 

Sep 30, 2015 03:47 AM
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Hi there, Ralph! I employ the same tactic you do as a listing agent. When I'm working with a buyer, I ask about offers if my clients is interested; if there are offers, I further ask if they are written.

Sep 30, 2015 06:31 AM
Ralph Gorgoglione
Metro Life Homes - Palm Springs, CA
California and Hawaii Real Estate (310) 497-9407

Thanks, everyone.

Seems like the common answer is "No", which I had suspected.

Affirmation from your peers is very cool.........

Oct 01, 2015 01:09 AM
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

For me, I dislike it when a listing agent calls me to let me know they have several offers in and if my client would like to submit . . . hmmmmmm . . . if my client wanted to submit an offer, I'd be on the phone to the listing agent, not other way around.  But, yes, absolutely do tell when asked the number, not the details!!

Oct 01, 2015 11:13 AM
Robert Vegas Bob Swetz
Las Vegas, NV

Hello Ralph ... nice post my friend and featured to the group:

EXPRESS WITH WORDS AT ACTIVERAIN

Oct 06, 2015 12:02 PM
Winston Heverly
Coldwell Banker Access Realty - South Macon, GA
GRI, ABR, SFR, CDPE, CIAS, PA

Hi, I enjoyed your post and it's current message. Glad I came across it the archives.

Oct 07, 2016 10:48 PM