Scroll down to Duties to Clients and Customers, Article 1, Standard of Practice 1-15
REALTORSÂ®, 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, REALTORSÂ® 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))
If you have proof this can be a serious issue, prior to contacting an Attorney (which you should do if you have proof and you get no satisfcation from agent/broker). However, first you might want to contact the agent's Broker to discuss this situation and make them aware of it.
Some sellers do prefer that the offer prices are revealed to the bidders --- just like in an auction --- to entice the bidders to raise their offers.
Now, if you can prove that the agent did this without the seller's knowledge, then you can start by speaking to that agent's broker regarding what you perceive as unauthorized action and and then consult with the local association of realtors for your next step in filing a grievance against this agent.
Go to the Pennsylvania Association of Realtor's website and see if they have a legal hotline for consumers. They should be able to tell you if it is legal in your state. If you can't get an answer there, call your local Association of Realtors.
How were you financially damaged in this transaction ?
If you have any concerns contact listing agent broker
Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
For the listing agent of a bank-owned property to reveal other offers on the property is not necessarily illegal. The bank may have given the agent permission to disclose what offers they have received as this is a way to obtain higher offers. It is up to the sellers on real estate transactions whether or not they wish for offer amounts to be disclosed to other potential buyers.
Hope this is helpful.
Prudential Connecticut Realty
This a hard question to answer. This situation does happen and it's very unethical, but whether it's a illegal is questionable. I would just suggest not to use this agent and to inform his or her broker what this agent is doing.