Question for Agents - Disclosing Offers

[Kathleen McCabe]

I'm an avid listener to the podcast and swear I've heard Brandon say that seller's agents ARE allowed to disclose the amount of the highest and best offer. I guess back in the 80s there was a law against this, but it changed over the past few years... and unfortunately most agents are not aware of this change. Is this true? I cannot find documentation. Help me prove my realtor wrong. (lol)

[Sheldon Zimmerman]

Good Afternoon, It depends on the area. In the state of PA, we do not know the other offers. If I am working with a buyer and there are multiple offers on a property. The listing agent is not allowed to disclose other offers. If I was the seller's agent and had multiple offers I would not want to disclose what the other offers are. What I would do is demand the highest and best. As a buyers agent, I would do a price escalation clause to give my buyer the best chance of winning the bid. But legally in PA, you don't disclose other offers.