Do realtors have to present your bid to the seller even if they think offer is lower than the listing price?
Topic: How to write articles of association
June 27, 2019 / By Carla Question:
If your realtor contacts the listing agent for the seller with a low offer....do they have to present or can they just say they won't present to the seller? I thought legally they were just brokers and had to present all offers to the seller.....no matter what.
Best Answers: Do realtors have to present your bid to the seller even if they think offer is lower than the listing price?
Andrea | 7 days ago
Here is the corrrect answer :
The buyers agent always has to present offers regardless.
The sellers agent does not & heres explanation on why.
National Association of REALTORS: Article 3
Duty to cooperate; REALTORS shall cooperate with other brokers "EXCEPT" when cooperation is not in the clients best interest.
This is how this could happen .
MR & MRS. Seller tell broker "A" That they are very busy and do not want to look at any offers below 390,000 for the house they have listed for 455,000 And Then broker ''A" Tells broker "b" that his offer of 379,900 is to low and will not be presented to seller.Then Broker "b" has to tell his clients that the offer they wrote up was to low and was not presented to sellers by sellers request and in some circumstances I have had sellers tell me not to even show a 2nd offer from a buyer who has lowballed them
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We found more questions related to the topic: How to write articles of association
The buyers agent owes a fiduciary duty to the buyer (that means he works for the buyer). That includes advising you on what is the best course of action to take if you want to buy the house, and may include trying to get you to make a better offer on the first try. (a low offer may result in the seller refusing to look at ANY further offers from that buyer)
The seller's agent (listing agent) owes a fiduciary duty to the seller (he works for the seller). That includes advising the seller how to treat particular offers. In MOST instances, the listing agent MUST present all offers that have been brought to him. If the seller has told the agent not to present any offers below a certain amount, then those will not be presented. So the answer to your question is "NO, the listing agent is not always required to present all offers to the seller."
BTW - Even if a low offer does get presented to the seller, there is no requirement that the seller respond whatsoever.
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According to California real estate law, (not sure where you are but probably similar) the listing agent must present all offers to the seller. The listing agent is NOT a principle to the transaction. If the agent is part of the National Association of Realtors, they have to abide by a code of ethics which state that they have a fiduciary duty to their client. Call me crazy but not presenting an offer to the seller and keeping them from the opportunity to counter or accept doesn't sound like that agent is keeping their duty to their client. Have your Realtor remind the seller's agent that they have a duty to their client which includes prensenting all offers.
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Realtors have to present to the seller all the offers even if the are very low.
I am selling my house in AZ, I got very ridicules offer like 30% off the asking prices which I thought the buyer was crazy, but an offer is an offer and by law the seller needs to see it and if its not acceptable to reject it.
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They will present your offer, no matter how low it is. It is a legally binding contract and they are required. Remember, they work on commission. If there is no sale, they get $0. So to them, an offer is an offer. However, the seller may be offended by the low offer, so it makes the agent's uncomfortable to come in with a low offer.
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except you have been paying your agent as a purchaser-broking provider, the agent has a fiduciary accountability to the seller to sell their sources and get the ideal deal for them she would be able to, whether she is working with you, the shopper. it relatively is authentic even is the Realtor isn't the only that is itemizing the residing house. that's amazingly reminiscent of a vehicle salesman who's assisting you with your vehicle purchase yet easily works for the broker. That being mentioned, that doesn't supply the Realtor license for fraud. The state of affairs you defined is a worry-unfastened one, i'm specific, yet that doesn't make it ideal. you may desire to touch your close by board of realtors and make a grievance, yet do no longer end there considering board represents the realtors. touch the acceptable state licensing organisation and record a grievance besides. before you record any grievance, even with the undeniable fact that, ensure which you have each and each of the information maximum suitable.
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