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Can Real Estate Agents Lie About Multiple Offers. To lie about a rival bid means the estate agent is running the very real risk of the buyer withdrawing from the sale. The young Real Estate Agent said he had received 5 higher offers. Occasionally prospective buyers have alleged that agents tell them there is another offer on the property in order to secure a higher price for the seller when in fact there is no competing offer. On top of that I do know of the heated discussions that happen back at home on whether you should make a higher offer.
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I can understand that angry and worrying thoughts trying to find out if the real estate agent is lying about this. On two separate occasions in a two week period two realtors from national brokerages represented that there were multiple offers on properties. Usually when I saw a house and there had been offers the agent refused to say what they were and indeed by law they cant. Creating the perception of a multiple bid situation in a tough market is not however a sound strategy unless there is indeed another offer on the table. It is unethical for the agent to lie about multiple offers. False information like that isnt only unethical but can potentially get a seller into legal hot water.
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Even if they do in fact believe that youve got multiple offers were going to tell our clients that its best to counter back as if the seller is lying. Dear Multiple Offers Yes a Realtor can lie about multiple offers. There are funny rules on what estate agents can say. She replied I have received an offer of 540000 This confirmed that there was only one offer. In our 10 years of experience we have had the good fortune to very rarely encounter an agent we found less than truthful. They may misrepresent their experience or their credentials on their websites or blogs.
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Can real estate agents lie about multiple offers. In the other I ended up bidding up to the last moment and then called the realtors bluff re the other offer In both instances it was revealed there were clearly no other offers. My agent asked the sellers agent if they had any offers and I dont remember if she said a flat out yes but the implication was that yes there were people interested in making an offer. REIQ accredited agencies have been reporting increasing instances of multiple offers in some areas as the stock of affordable properties becomes depleted. In our 10 years of experience we have had the good fortune to very rarely encounter an agent we found less than truthful.
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Occasionally prospective buyers have alleged that agents tell them there is another offer on the property in order to secure a higher price for the seller when in fact there is no competing offer. Unlike car salesmen licensed real estate agents can suffer swift and unpleasant consequences if they are caught lying. City-Data Forum General Forums Real Estate. If you are asking whether such a lie is lawful you are asking for a legal opinion. So I am wondering do realtors lie and say there are offers when there are none.
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When disclosing can bring legal trouble NARs Code of Ethics also requires real estate agents to be honest with all parties So an ethical listing agent isnt going to lie about multiple offers on a property to stoke competition. Lying about a bid is probably not worth the small amount they will earn should the buyer increase their. My agent asked the sellers agent if they had any offers and I dont remember if she said a flat out yes but the implication was that yes there were people interested in making an offer. To lie about a rival bid means the estate agent is running the very real risk of the buyer withdrawing from the sale. I can understand that angry and worrying thoughts trying to find out if the real estate agent is lying about this.
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Only an attorney can give you legal advice or render a legal opinion. Unfortunately the consequences for buyers or sellers being less than truthful with their agents are neither swift nor certain. If you ever feel like you were misled though you can reach out and report it to the broker of the office or the real estate commission. Unlike car salesmen licensed real estate agents can suffer swift and unpleasant consequences if they are caught lying. If this seller doesnt want to be realistic we can.
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Can real estate agents lie about multiple offers. Its not that much of a sellers market and it wont be again anytime soon. Hmm this exact thing happened to us so we changed agents 3 times before settling on one was can trustim pretty sure by law agents cannot state whether your offer is higher or lower than another persons nor can they call you to ask for a higher bid. Listing agents are charged with the responsibility to encourage best offers. On two separate occasions in a two week period two realtors from national brokerages represented that there were multiple offers on properties.
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My Partner knocked on the door one evening and asked the owner if she had received his offer. When disclosing can bring legal trouble NARs Code of Ethics also requires real estate agents to be honest with all parties So an ethical listing agent isnt going to lie about multiple offers on a property to stoke competition. To lie about a rival bid means the estate agent is running the very real risk of the buyer withdrawing from the sale. Occasionally prospective buyers have alleged that agents tell them there is another offer on the property in order to secure a higher price for the seller when in fact there is no competing offer. Real estate real estate buying and selling.
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Dear Multiple Offers Yes a Realtor can lie about multiple offers. They may misrepresent their experience or their credentials on their websites or blogs. Some spend inordinate amounts of time posting online to obtain maximum search engine exposure. Even if they do in fact believe that youve got multiple offers were going to tell our clients that its best to counter back as if the seller is lying. So I am wondering do realtors lie and say there are offers when there are none.
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When real estate agents lie its most likely to be about themselves. I think the question here is not whether he or she can lie but whether such a lie is lawful. Real estate real estate buying and selling. I can understand that angry and worrying thoughts trying to find out if the real estate agent is lying about this. Are agents allowed to lie about multiple offers.
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Unfortunately the consequences for buyers or sellers being less than truthful with their agents are neither swift nor certain. My Partner knocked on the door one evening and asked the owner if she had received his offer. They may misrepresent their experience or their credentials on their websites or blogs. Listing agents are charged with the responsibility to encourage best offers. After you create your account youll be able to customize options and access all.
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Realtorsa subset of real estate agentsare forbidden by their Code of Ethics from lying though some do. Hmm this exact thing happened to us so we changed agents 3 times before settling on one was can trustim pretty sure by law agents cannot state whether your offer is higher or lower than another persons nor can they call you to ask for a higher bid. Can an agent lie about having multiple offers. My agent asked the sellers agent if they had any offers and I dont remember if she said a flat out yes but the implication was that yes there were people interested in making an offer. Real estate real estate buying and selling.
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Only an attorney can give you legal advice or render a legal opinion. Some spend inordinate amounts of time posting online to obtain maximum search engine exposure. After you create your account youll be able to customize options and access all. Asdrubal Chueca Last Updated. Along with the legal implication theres another good reason why estate agents will probably not lie about rival offers.
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If they do have multiple offers and someone is stupid enough to play ball with them thats no skin off my clients nose. Can real estate agents lie about multiple offers. Only an attorney can give you legal advice or render a legal opinion. REIQ accredited agencies have been reporting increasing instances of multiple offers in some areas as the stock of affordable properties becomes depleted. Occasionally prospective buyers have alleged that agents tell them there is another offer on the property in order to secure a higher price for the seller when in fact there is no competing offer.
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My agent asked the sellers agent if they had any offers and I dont remember if she said a flat out yes but the implication was that yes there were people interested in making an offer. Not many but some. They may misrepresent their experience or their credentials on their websites or blogs. Hmm this exact thing happened to us so we changed agents 3 times before settling on one was can trustim pretty sure by law agents cannot state whether your offer is higher or lower than another persons nor can they call you to ask for a higher bid. My agent asked the sellers agent if they had any offers and I dont remember if she said a flat out yes but the implication was that yes there were people interested in making an offer.
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Real estate real estate buying and selling. Some spend inordinate amounts of time posting online to obtain maximum search engine exposure. If this seller doesnt want to be realistic we can. Can an agent lie about having multiple offers. Creating the perception of a multiple bid situation in a tough market is not however a sound strategy unless there is indeed another offer on the table.
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If you ever feel like you were misled though you can reach out and report it to the broker of the office or the real estate commission. In our 10 years of experience we have had the good fortune to very rarely encounter an agent we found less than truthful. Some spend inordinate amounts of time posting online to obtain maximum search engine exposure. City-Data Forum General Forums Real Estate. Asdrubal Chueca Last Updated.
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Can real estate agents lie about multiple offers. We placed 2 offers on 2 different homes each time having the agent call to say there was a higher bidafter we bought our house 3months. False information like that isnt only unethical but can potentially get a seller into legal hot water. Even if they do in fact believe that youve got multiple offers were going to tell our clients that its best to counter back as if the seller is lying. They can verify that a multiple offer scenerio was really happening and if it was not and you were misled then you probably have a legal case if you overpaid and the agent who lied will most likely get fired and lose their license to boot.
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Asdrubal Chueca Last Updated. Can real estate agents lie about multiple offers. Its not that much of a sellers market and it wont be again anytime soon. Unfortunately the consequences for buyers or sellers being less than truthful with their agents are neither swift nor certain. Lying about a bid is probably not worth the small amount they will earn should the buyer increase their.
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Are agents allowed to lie about multiple offers. Click to see. Some forums can only be seen by registered members. When real estate agents lie its most likely to be about themselves. They can verify that a multiple offer scenerio was really happening and if it was not and you were misled then you probably have a legal case if you overpaid and the agent who lied will most likely get fired and lose their license to boot.
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