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re: Disclosure of buyer's offer
I am in a dilemna! I am a Transactional Broker neg...

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Disclosure of buyer's offer
Posted at Real Estate Law Review by John Reilly, e-PRO
Apr. 19, 2005
Categorized in: Code of Ethics
Tagged with: code of ethics

At the NAR meetings in Orlando in Novemer 2004, there was a motion to approve a new standard of practice requiring agents to tell buyers that the terms and conditions may be disclosed to other agents and therefore to their buyers if a seller so requests. That motion did not pass.

 

Source: http://realtor.org

"After significant floor debate, the board referred a proposed Standard of Practice back to the Professional Standards Committee. The standard would have required REALTORS to disclose to buyers the possibility that the existence, terms, and conditions of any offer they make could be disclosed to other purchasers by sellers or by sellers' representatives, except where such disclosure is prohibited by law."

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1. re: Disclosure of buyer's offer

Written by: Holly Sanders
Oct. 28, 2006
I am in a dilemna! I am a Transactional Broker negotiating on behalf of my client Seller with another Transactional Broker who represents the Buyer. Each time the buyers agent  presents an offer and my Seller makes a counter offer the buyers agent  informs the competing Agent who representings another Seller our terms and conditions and visa versa. Finally, my client counter offered  a rock bottom price .The buyers agent  told me her cleints agreed to the competing Seller's counter offer which was $12,000.00 above our counter offer.The units are comparable in size, view and condition. In addiiton,the commission on the winning counter offer was 4% and our commission was 3%. How can I subsiantiate that the buyers agent conveyed to the buyers our low counteroffer?
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