Jack Gillis, M.B.A., J.D.
Jack Gillis Realty Advisors
Nathan Grace Real Estate, Broker
5619 Dyer Street | Suite 100
Dallas, TX 75206
This paragraph is in the Transaction Broker notice.
6. Limited confidentiality, unless waived in writing by a party. This limited confidentiality will prevent disclosure that the seller will accept a price less than the asking or listed price, that the buyer will pay a price greater than the price submitted in a written offer, of the motivation of any party for selling or buying property, that a seller or buyer will agree to financing terms other than those offered, or of any other information requested by a party to remain confidential.
Not sure why she can't give you a market analysis to review. But as a Transaction Broker she cannot sugget a price for you to offer.
Listing agents are not at liberty to share anything that is confidential between them and their seller...to do so is a violation of our ethical code and the agent could be subject to discipline from their local board or state.
Myself, I first ask my clients if they simply want to offer( in hopes of snagging a great deal) or do they really want that home and want to BUY it. The offers will differ, both in price and terms structure.
Either way, if you EVER fail to get a direct, honest answer from your Realtor, find another
2. If you already have made an offer on a specific property you need to consider that offers are confidential between one particular buyer and the seller. The seller is the one who can make a decision as to disclose the other offers to your agent (and in turn to you). The Listing and Selling agent have no say so in that process. Of course the seller is trying to get as much as possible for the property (you'll understand that when you will eventually sell your house). So the question then is: "do you want the house bad enough to go as high as want to (still taking into consideration the comparing (called CMA) mentioned in #1 (remember the house has to appraise at the amount you are offering, If not you still can get a loan but will have to come out of pocket for the difference between what the bank will loan you and that sales price unless you renegotiate the sales price with the seller, which should be the thing to do).
As Realtor (or Agent) we can't make the decisions for you, we can only provide an array of information to help you make the best informed decision for yourself. We are limited in the area where we can really give advices.
I hope my answer help you somewhat. Good luck to you,
Mr Thomas, I'd have no problem having my offer listed, and think all homes for sale should have their asking price clearly stated on the sign out front. I waste so much time just finding a property I like, then have to play games to find what they want, and what their "other offer" may be so I can decide if it's worth it to me to counter. Why play games, especially when agents hint at a better offer, or outright lie about having another offer, just to drive the price up. Would be a whole lot easier for everyone if there was disclosure up front on pricing and offers. If I know what the other guy offered, I could counter if my price limit hasn't been reached. I know, not what an agent wants to hear who makes more money the higher the price goes, but we should be looking out for the customer, not the agent's commission...
One more thing, though....even if he or she is representing you as a client, he or she cannot give you information about other offers that may disadvantage the other buyer provided they gathered that knowledge from involvement in the transaction. For instance, I may have several buyers who want to make offers on the same property--I can't disclose to each buyer what the other buyers are offering.
If, however, the knowledge is gathered by information the agent learned second-hand, the agent may tell you that "this is what I've heard".....
And always, a good agent should be researching EVERY property on which you are seriously considering submitting an offer to learn what recent sales are in the area. This will help you work together to determine a fair offer price.