Tell me what the offer is?

Why do some agents refuse to understand that they do not determine whether or not they can tell selling agents about mulitple offers. The Seller makes the desicion. In our office, this is determined by the Listing agreement.

Standard of Practice 1-15 Realtors®, in response to inquiries from buyers or cooperating brokers shall, with the sellers' approval, disclose the existence of offers on the property. Where disclosure is authorized, Realtors® shall also disclose, if asked, whether offers were obtained by the listing licensee, another licensee in the listing firm, or by a cooperating broker. (Adopted 1/03, Amended 1/09)

Often times it is advantagious for the seller to allow you to to disclose that there are other offers and even what those offers are. Wouldn't a buyer bring their best offer if they knew what they were competing with. Yet many agents still think that these are not viable options and are not discussing this important negotiating tool with their sellers.

The flurry of bank owned properties the past few years has complicated the matter. The banks come with their own listing agreement. Now that we are going back to more traditional sales and short sales, it is time for the real estate agents to get back to basics. Discuss it with your seller, then when you get that call, if it is not under contract, answer the question. Can you disclose whether you have other offers, and what those offers are?

Standard of Practice 3-6
REALTORS® shall disclose the existence of accepted offers, including offers with unresolved contingencies, to any broker seeking cooperation. (Adopted 5/86, Amended 1/04)

After an offer has been accepted, even with contingencies, it must be disclose to other inquiring REALTORS®