rkp said:
Soylent Green Is People said:
Realtors can't pass along another buyers offer to a different Realtor
Why not?
You are right that it can be a fake offer but that is why you have a limit. In theory, the limit is what you are ready to offer and your hope is that you get it for less than that which is what has happened for me.
From CAR form PRBS (POSSIBLE REPRESENTATION OF MORE THAN ONE BUYER
OR SELLER - DISCLOSURE AND CONSENT)
"Offers not necessarily confidential: Buyer is advised that seller or listing agent may disclose the existence, terms, or conditions of buyer's offer unless all parties and their agent have signed a written confidentiality agreement. Whether any such information is actually disclosed depends on many factors, such as current market conditions, the prevailing practice in the real estate community, the listing agent's marketing strategy and the instructions of the seller."
As a listing agent, I do employ this tactic when multiple offers are present (with seller's permission) and am perfectly fine with sharing terms and pricing of other existing offers. It has been well-received by sellers with higher net sales, and buyers in knowing what they're up against rather than just being blindsided with a "We've moved forward with another group" message when you've put in a full-priced, clean offer, with no further explanation or chance to improve your position.
The listing agent has an obligation to BOTH parties to be honest in all dealings.
Of course there are some out there that are willing to risk their license and livelihood over a few dollars on a single transaction, but it's a high-risk, low-reward venture.
This integrity factor is one of the many reasons that who you choose to work with matters.
Hope this helps,
-IR2
