When putting in an offer on a home and there is another competing offer in the same office, isnt our offer supposed to be kept confidential?
My boyfriend and I recently started looking for a home. A local agent showed us two homes but we did not like either of them. After lots of searching on our own, we found a home that we really liked and asked to see it. Our agent had to go out of town but had another agent in her office show it to us. When she came back, we decided to make an offer on the home. The day we went to make an offer, she informed us that another agent in her office was also putting in an offer on the same house for their own clients but she assured us she would keep our offer secret.
After our initial offer, we signed the Multiple Offer Procedure form and decided to increase our offer.
In the past week, she has seemed very positive about us getting the home. However, today she said she didnt want to give us false hope then she informed us nonchalantly that the other agent in her office who put in an offer was also the same agent who had reviewed our offer before it was submitted. Is that allowed?
That's interesting. And you are right to be concerned and questioning that action. When your original agent came back from out of town you wrote your offer using her representation. Then you state that this substitute agent is the same agent that that reviewed your offer before it was submitted. That part I'm confused about.
Either way, if your agent knew of information that could potentially harm your ability to purchase a home, such as sharing proprietary information to the detriment of the client, then it could be defined as unethical. Your agent has a fiduciary responsibility to represent you in an honest, ethical and loyalty all in good faith and in your best interest.
Is it allowed? No. Does it happen? Yes. But you must understand that your agent wants to be paid a commission and that is not going to change even if another agent was privy to your offer. If you truly want this house then you write the highest and best offer and know that it will be presented to the seller by your agent in a timely and effective manner. All you can do is your best and soon enough you will prevail in your home buying efforts. Good luck to you..
Diane Wheatley, Broker
diane@moveupproperties.com
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