Flipper/Rehabber · Greenville, SC · Member since 2011 · 74 posts · 22 votes
I am a realtor and I flip houses. I list my own houses, but this would apply for any realtor listing a client's house or their own.
I always get asked this very simple and basic question "Do you have any other offers on the house?"
If you answer, "Yes", I've had several realtors say, "OK, then we're not going to bother coming"
If you answer, "No", then there's a perceived edge in negotiations on their part. I would rather not answer the question at all. Does anybody out there say "I will not answer the question."
One thing I just thought about today is, what if you put in the remarks or this is how you responded "If you ask me if a house has any offers, I will always answer "No"" or you say "I always answer "No" to that question". I'm not sure if that's any better, but it's a question that is not good for a seller to answer ever. It can only ever hurt you by answering that question.
Investor · Springfield, MA · Member since 2015 · 37 posts · 8 votes
8y
If you are a realtor you would need to honestly divulge if there is an offer or not. I agree with Sam Shueh , and his method of having someone else list the property. This will help avoid many gray areas
If they ask if there are offers I usually say:
No but we have x amount of showings in the next 48 hours. (This will help drive urgency)
Yes, we are looking for highest and best by x time
Real Estate Agent · Cupertino, CA · Member since 2016 · 4k+ posts · 1k+ votes
8y
I never list my own home and have someone representing myself as agent to take care of avoiding exposures like you described. Realtors can get into a lot hot water especially you turned down other offers and found a buyer yourself. Other agents do not hesitate to go to real estate bureau filing complaints to remove someone's license. Often their license is under restricted status when get caught being a liar or un-professional.
Specialist · Baltimore, MD · Member since 2016 · 384 posts · 318 votes
8y
@Kris Fox, what if you just reply with, "We are currently accepting highest and best offers." And just leave it at that. Don't divulge any more information in regards to that question.
If they say they are not going to bother coming, is that a bad thing? Sounds like they are just tire kickers.
China, ME · Member since 2014 · 3k+ posts · 4k+ votes
8y
@Kris Fox My memory of REALTOR rules are that if another REALTOR asks you whether you have an offer, you are required to answer.
I'm no longer a NAR member, so those rules don't apply to me. I simply respond "I'm not prepared to discuss other offers."
This is one that I think NAR gets wrong. Revealing other offers weakens my seller's position not only for the reason you outlined, but also because it lessens the chance to stoke a bidding war.
Investor · Springfield, MA · Member since 2015 · 37 posts · 8 votes
8y
If you are a realtor you would need to honestly divulge if there is an offer or not. I agree with Sam Shueh , and his method of having someone else list the property. This will help avoid many gray areas
If they ask if there are offers I usually say:
No but we have x amount of showings in the next 48 hours. (This will help drive urgency)
Yes, we are looking for highest and best by x time