Kerri, Home Buyer in Rockaway Park, NY

In NYS is it required for the realtor to inform the seller of any offer made on the house, even if significantly lower than the asking price?

Asked by Kerri, Rockaway Park, NY Sun Jun 5, 2011

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14
Jenet Levy, Agent, New York, NY
Sun Jun 5, 2011
It is absolutely required for the listing agent to present all offers. It is unethical to fail to do so.
1 vote
Scott Jones, Agent, NY,
Sun Jun 5, 2011
Its the brokers Fiduciary responsibility to submit all offers
1 vote
Anna M Brocco, Agent, Williston Park, NY
Sun Jun 5, 2011
Yes all offers must be presented no matter the amount, and it really is in the seller's best interest to hear all offers; the decision to accept, reject or counteroffer does not rest with the agent, unless otherwise instructed in writing by the seller....
1 vote
Cecilly Buma…, Agent, Bronx, NY
Sun Jun 5, 2011
Absolutely! It is the agents job to present any & all offers made, unless instructed otherwise by the seller.
Please feel free to contact me directly with any questions.
1 vote
Barry Salott…, Agent, Westport, CT
Sun Jun 5, 2011
Yes. Only if the seller gives the agent control to decide not to deliver offers below a certain point does the agent not have to let the owner know of an offer
1 vote
Christopher…, Agent, Tarrytown, NY
Sun Jun 5, 2011
Hi, yes unless the seller requests otherwise in writing to the agent.

Chris
Web Reference:  http://raveis.com/chrispagli
1 vote
allan erps,A…, Agent, Pearl River, NY
Fri Jun 17, 2011
Absolutely true that all offers must be presented! That would also include after a Contract is signed. Any offer, any time!
0 votes
Lora Detting…, Agent, New York, NY
Fri Jun 17, 2011
It is absolutely required for all offers to be presented. However, the seller is under no obligation to respond.
0 votes
Jerry Cibuls…, Agent, Southold, NY
Mon Jun 13, 2011
All offers must be presented.
0 votes
Joseph Hasti…, Agent, Bayside, NY
Mon Jun 6, 2011
Hi Kerry. I just saw your question and wanted to reply. The answer is a simple Yes!

There may be other circumstances regarding the offer like asset and income statements, pre-qual letter or a credit check. Your broker may be waiting for some documents that make offers more real.

So the question is now, how long did your broker have this "offer." Was it in writing and accompanied by financials statements, etc? Was it a crazy low-ball offer with no possible hope of acceptance. Yes, you should have been informed. Best.
0 votes
Joseph Runfo…, Agent, Staten Island, NY
Mon Jun 6, 2011
Yes, all offers should be immediately submitted to the principal until the sale is closed. The seller's agent must remember that it is up to the principal to reject or accept an offer; it is not the agent's job to evaluate the offers and submit only the most favorable. Failing to submit all offers immediately is a violation of license law. This requirement applies even to properties that are in contract and waiting to close.
Web Reference:  http://www.clovelake.com
0 votes
Melanie Swan…, Agent, New York, NY
Mon Jun 6, 2011
ALL offers are representing an interested buyer. It is the realtor's fiduciary responsibility to their client (seller) to relay all offers. There is never a no until the owner explicitly states that THEY do not want to hear any offers below a certain amount... even then, changes of market, needs and details may occur. All they can do is say no!
We as realtors can advise but not control how much an offer can be to be considered viable. It is a poker game sometimes. Real buyers that are very interested in the property would be wise not to "low ball" too much~ another buyer will snatch the apt out from under them.
0 votes
Tammy Benkwi…, Agent, Somers, NY
Sun Jun 5, 2011
If you suspect your offer is not being presented, you can request a face to face meeting with the seller. The sellers agent is not permitted to discourge it. However, it is the sellers decision whether they choose to meet with you.

If you can't get a meeting, have your agent contact the manager of the listing agent to be certain the offer was presented.
0 votes
Egen Warner…, Agent, New Rochelle, NY
Sun Jun 5, 2011
Yes you must unless the Seller has instructed in writing to do otherwise. I.e. please don't present any offers lower than $$$ and if they are lower counter with asking price.

Kind regards,


Egen
Web Reference:  http://getegen.com
0 votes
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