Question: Can A Real Estate Agent Tell You What To Offer?

Can your realtor tell you what to offer?

While some REALTORS® may be reluctant to disclose terms of offers, even at the direction of their seller-clients, the Code of Ethics does not prohibit such disclosure.

In some cases state law or real estate regulations may limit the ability of brokers to disclose the existence or terms of offers to third parties..

What should I not tell my real estate agent?

Among the things home sellers should not say, the lowest price you are willing to take is probably a no-no. “The primary thing I tell people not to discuss is the minimum price they will accept,” notes Babbitt. “When you tell your agent your lowest price, they are going to shoot for that price in the contract.

What is considered a lowball offer?

A lowball offer refers to an offer that is far less than the seller’s asking price or is deliberately too low, as a means of starting negotiations. To lowball also means to throw out a purposely lower than reasonable number to see how the seller will react.

Should you offer the asking price?

There are other reasons for going in with an offer lower than the seller’s asking price. … Remember that the asking price is not set in stone. If you feel as though the property is worth less than what the seller is asking, go in lower, but be fair. Offering half isn’t likely to go down well!

Can a seller reject a full price offer?

Even when buyers submit an offer at the sellers’ asking price and with no contingencies, there’s no guarantee they’ll get the house. … Home sellers are free to reject or counter even a contingency-free, full-price offers, and aren’t bound to any terms until they sign a written real estate purchase agreement.

Can an agent tell me other offers?

Real estate agents cannot by law share your offer with other buyers, but no law prevents the seller from sharing it. … Monty’s Answer: Real estate agents are not allowed by law to share your offer with other buyers or any other details of your proposal with anyone except the seller.

Can I offer 50 000 less on a house?

Probably not a good idea to go in with a lowball offer $50,000 below asking price. A whole year on the market, with price reductions? Go ahead and roll the dice. The longer a house has been on the market, the less of an upper hand the seller has in negotiation.”

Do real estate agents have to disclose problems?

An agent is obliged to disclose such matters to prospective buyers whether they ask about them or not. Staying silent regarding a potential problem is no defence for the appointed agent and does not absolve them from their responsibilities.

Do estate agents have to disclose murders?

When Must Death in the Property be Disclosed? Under the Consumer Protection from Unfair Trading Regulations (CPRs), property vendors are obliged to declare any information that can decrease the value of the property or affect its enjoyment. Among other things, this also includes murder and suicide in the property.

Do sellers always pick the highest offer?

When it comes to buying a house, the highest offer always gets the house — right? Surprise! The answer is often “no.” Conventional wisdom might suggest that during negotiations, especially in a multiple-offer situation, the buyer who throws the most money at the seller will snag the house.

How do I convince a seller to accept my offer?

11 Ways To Get Your Offer Accepted In A Seller’s MarketYou’re finally ready to take the plunge and put in an offer on your dream house. … Make Your Offer As Clean As Possible. … Avoid Asking For Personal Property. … Write A Personal Letter To The Seller. … Offer Above-Asking. … Put Down A Stronger Earnest Money Deposit (EMD) … Waive The Appraisal Contingency.More items…•

Are estate agents allowed to lie about offers?

When an estate agent markets a home they’re legally obliged to treat both buyers and sellers fairly by following the Code of Practice for Residential Estate Agents. This means they should not lie about offers to any party involved.

What do estate agents have to disclose?

CPRs mean that estate agents now have to disclose “fair” information to homebuyers and sellers. That includes making “material information” about a property clear, unambiguous and not deliberately misleading or withholding information from buyers. … So no hiding information from buyers until it’s too late.

Can I offer 20k less on a house?

It is all a negotiation. You can offer whatever price you want. Whether or not they accept that offer depends on the motivations of the seller. … Offer less then 20k less and try to negotiate to that number.

What sellers must disclose?

5 things you need to disclose when selling your homePre-contractual duty of disclosure. Under the common law, you’re responsible for disclosing defects in your property title to potential buyers. … Property defects. … Off-the-plan. … An accurate sales price. … It pays to be honest…