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Can a Listing Agent Tell Me All About Competing Offers?

By
Services for Real Estate Pros with Maximum One Realty - Managing Broker

In a multiple offer situation in real estate, may the listing agent reveal to competing offerors specific information about those other offers such as the highest price that has been offered or any other terms of those competing offers in order to work in the best interest of the Seller? What does the Georgia Real Estate Commission (GREC) say relative to License Law? What does the National Association of Realtors (NAR) Code of Ethics say? Watch the video to find out! 

Thank you to Craig Coffee - Deputy Commissioner of the Georgia Real Estate Commission (GREC!)
Thank you to Seth Weissman, General Counsel to the Georgia Association of Realtors (GAR!)

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Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

Dana (Lerner) Sparks So true and we often get asked these questions from buyers agents. They become upset when all we tell them is there are multiple offers and nothing more.

Jun 12, 2017 07:47 AM
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I do believe in my state it is up to the seller as to what should be revealed

Jun 12, 2017 08:52 AM
Dana (Lerner) Sparks

Thank you William Feela !  I definitely suggest that agents check the License Laws of their own state as they may differ from those of Goergia!  Also, each Broker may have a company policy on this issue.

Jun 12, 2017 09:23 AM
Jim Smith
The Property Management Company - Round Rock, TX
Broker,CRS,GRI,RMP,CNE,TRLP

Texas requires that the Seller chooses to either:

  1. Merely reveal there are multiple offers with no additional information, or
  2. Full disclosure of all terms of all offers

We can not do partial disclosures.  It is OK to communicate to all those with offers that the Seller will review all offers at a specific time/date.

Jun 13, 2017 07:30 AM
Dana (Lerner) Sparks

That's interesting Jim Smith !  Different states have different laws.  I think bottom line is still that it depends on the Seller, the business practice of the agent & the Broker's policies - all operating within the state laws!

Jun 13, 2017 08:54 PM
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