"The ethical course depends on two factors: First, has the agent or prospective buyer asked if there are offers on the property? And second, has the seller given you approval to make that disclosure?"
"If sellers haven't given you approval to disclose, you have to respond that the sellers don't want the presence of other offers disclosed but you would be happy to present any offer."
"This is an important conversation to have with sellers at the time of listing, especially if multiple offers are typical in the market."
"REALTORS®, in response to inquiries from buyers or cooperating brokers shall, with the sellers' approval, disclose the existence of offers on the property."
Listing agents are not required to disclose existing offers unless the seller has given approval and the buyer or cooperating broker inquires about them. It is essential for agents to discuss with sellers how to handle such inquiries upfront. If sellers do not want offers disclosed, agents must communicate that while still being willing to present any offers. This conversation is crucial, especially in markets with multiple offers, to ensure timely and appropriate responses.
Read at Boston Condos For Sale Ford Realty
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