Home Buying in 48336>Question Details

Shemia Canty,  in

T sell a home do realtors sometimes lie and say their are other offers and there really isnt.

Asked by Shemia Canty, Tue Jun 14, 2011

Help the community by answering this question:

Answers

12
Sadly sometimes they do.There could be several reaons for doing so, but none of them are ethical.

Some realtors just like any other professional service provider will push th enveolop to get the results they desire.

I can only suggest that you make your best and strongest offer up front. Hopfully if your offer is solid you will not have to worry about these tactics.

Kawain Payne, Realtor
1 vote Thank Flag Link Wed Mar 28, 2012
Sadly sometimes they do.There could be several reaons for doing so, but none of them are ethical.

Some realtors just like any other professional service provider will push th enveolop to get the results they desire.

I can only suggest that you make your best and strongest offer up front. Hopfully if your offer is solid you will not have to worry about these tactics.

Kawain Payne, Realtor
0 votes Thank Flag Link Wed Mar 28, 2012
@Bill - you forget car sales persons and politicians in your list!!

There are rule breakers in every sector of our society. REALLY, whether a listing agent has multiple offers or not should be of no matter to the buyer who decides what they are willing to pay and makes their offer. You move on if the offer doesn't stick. Multiple offers are irrelevant. Many times, if you have a seasoned agent working for you who can read the tea leaves correctly, you will do just fine.

Good luck...

BeachBrokerBill
CA DRE 01775528
0 votes Thank Flag Link Wed Mar 28, 2012
Realtors are people just like doctors, lawyers, teachers, and law enforcement people....any business is a reflection of our society, bringing with it its strengths, weaknesses and baggage....some may lie, but the majority would follow their committment to an established "code of ethics" that sets standards for acceptable behavior.
0 votes Thank Flag Link Wed Mar 28, 2012
I agree with the other answers. It would be absolutely unethical. It never should be done. And it very, very seldom is.

However--and I didn't see this addressed in the other answers--some agents feel comfortable in stretching the truth without actually lying. For instance, "There's been a lot of interest in this property, and I'm expecting an offer soon." Or "A couple looked at the home this afternoon and said they'd be submitting an offer." Or "I haven't check back with my office to see if we've already received an offer on this property."

In these cases, the agent isn't saying an offer's been received . . . just that one's expected or possible. So you have to listen very closely to what's actually being said.

One other point: It's often more effective for an agent to say that other offers are expected. (Implying those offers are coming in today or tomorrow. Realistically, and technically, sure--the agent is expecting an offer eventually. Maybe within the next 6 months.) But if an agent says that another offer has already been made (when it hasn't), that can actually discourage potential buyers from making an offer. So--if an agent's playing that game--it's probably better to be ambiguous and imply that other offers are on their way, rather than lying and saying that other offers have already been submitted.

Hope that helps.
0 votes Thank Flag Link Wed Mar 28, 2012
Don Tepper, Real Estate Pro in Burke, VA
MVP'08
Contact
I highly doubt it - that would be an ethics violation for sure. I had a listing recently that had 8 offers submitted in less than 48 hours - multiple offers in the current market are common.
0 votes Thank Flag Link Wed Mar 28, 2012
All good answers below but I will say that the way the market is today, you can find multiple offers on many listings. My last offer had 7 offers on it. As a full time Realtor, I find that Buyers really don't believe the fact that the market is this way. For some reason they don't believe us when we try to explain how things are until they have submitted offers on a few homes only to lose out. Now I am not saying all listing will get multiple offers but those of us who work with buyers will tell you that as soon as a nice property comes on the market there are offers. Inventory is low right now which does not help. If you listen to the news you will probably hear something different.

Good luck with your offer, I hope yours gets accepted.
0 votes Thank Flag Link Wed Mar 28, 2012
If the realtor is working for you it would be extremly unethical and potentialy a violation of the fiduciary responsibility that the agent has to you. There are unethical people in all businesses, but this tactic might not produce positive results for the realtor and it would be unlikely that someone may use it considering the potential legal ramifications.
If you are checking the status of a property on one of the real estate websites to see if something shows up regarding that property you will find that they may be 2,3 or 4 weeks behind the search results that a realtor can have on the Multi-Listing Service, which is updated immediatly. Have your realtor meet with you and show you the status on their computer.
0 votes Thank Flag Link Wed Mar 28, 2012
There probably is a handful of unethical agents who attempt to use the ole "multiple offer" as a ploy to get a buyer to make an offer on a property. The operative word here is "unethical." To validate the issue, brokers should have in their office policies and procedures as part of their risk reduction, a form that is always utilized in a multiple offer situation. In my office we post in comments section of the MLS, viewed only by agents, that a MO situation exists and that all interested parties must submit their highest and best offer by determined date and time. The buyer's agents will sign a document stating they have consulted with their buyer and this is infact their hightest and best offer as of the date outline in MLS. This cuts down on a lot of the issues.
0 votes Thank Flag Link Wed Mar 28, 2012
I suspect that some listing agents may use these high pressure tactics. There is really no way of telling if they are not being completely honest. The seller (or agent) has no duty to show you their cards (seller can choose to keep this info confidential). However, according to our ethics code, Realtors must always be honest in their dealings with cooperating brokers and clients. The Realtor must tell you if they have an accepted offer.

I have represent buyers who always walk away from high pressure situations. If they use them, I don’t know how effective they are.
0 votes Thank Flag Link Tue Jun 14, 2011
Hi Shemia Canty,

I can only speak for myself. No, I would not do that - unethical. That said, keep in mind Realtors are people and some people do lie even if it is unethical.

Shanna Rogers
SR Realty
http://www.RealtyBySR.com
0 votes Thank Flag Link Tue Jun 14, 2011
Shemia:

Good Afternoon!! I can't answer for all agents but personally I hope not. That would be a direct violation of ethics.

Good Luck,

Karen Paytas, GRI, CMS
Realtor
Real Living Kee Realty
586-709-8465
kpaytas@mirealsource.com
0 votes Thank Flag Link Tue Jun 14, 2011
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer