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
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