If the "realtor" is a "Realtor" as in the National Association of Realtors, then he is governed by a Code of Ethics.
In the 2007 Version of the Code of Ethics, there is a section that states:
â€¢ Standard of Practice 1-6
REALTORSÂ® shall submit offers and counter-offers objectively and as
quickly as possible. (Adopted 1/93, Amended 1/95)
Well then, that sounds pretty straight forward.
What happens if the Owner directs his/her Realtor to hold Offers until there are at least 2 Offers?
Now that is a really good question. Does anybody know the answer to that question?
And what happens if the Owner is presented the Offer and the Owner doesn't want to repond to the Offer until there is a 2nd Offer? Or if the Owner doesn't want to have Contingent Offers presented? Or if the Owner doesn't want Offers presented until after a certain amount of time has passed?
These are all very good questions! I believe that the key is in the Disclosures.
Which reminds me,,, I am not an attorney, nor do I play one on TV.