Quick Answer: Do Real Estate Agents Lie About Other Offers?

Can real estate agents lie about other offers Australia?

But for agents in NSW, this is completely untrue.

Legally, agents in NSW are allowed to disclose current offers to any other potential buyers.

Agents are required to inform the seller of all offers made to purchase the property, but there is no law to prohibit the disclosure of offers to potential buyers..

Do estate agents have to disclose other offers?

The estate agent has an obligation to pass your offer to the vendor. The only exception is if the vendor has instructed the agent not to. This is known as “not excepting offers”.

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.

Is it illegal for a Realtor to lie?

Those rules and laws would prohibit the real estate agent from lying, but the agent has the ability to market the property to get the seller the best price possible. … You can choose to ignore it, or place your offer and hope the seller considers it.

Can you outbid an accepted offer?

Because the bank might ask which offer the seller would like the bank to accept. In that instance, the seller might point to the second offer. If your offer is contingent on bank approval, you could lose your offer to the buyer who overbid you. It is rare that this happens, but it can happen.

How do you know if a Realtor is lying?

Here are 17 lies your real estate agent might tell you.That wall probably isn’t load-bearing. … This neighborhood is ‘up and coming’ … My commissions aren’t negotiable. … Open houses are beneficial to the seller. … I have potential buyers that would love your house if you list with me. … This home needs only $10,000 of work.More items…•

Should you offer over asking price?

But most agents prefer an easy negotiation, knowing that sellers get offended when they receive low offers on their homes. This means they will probably recommend you make an offer close to the asking price.

Do estate agents talk to each other?

Yes, real estate agents talk to each other, and they do so to : Facilitate the sales in which they are involved. Build a professional network which, in turn, helps them better serve their clients. Learn about the properties, the neighborhoods, and issues that might affect their clients.

Do estate agents lie about viewings?

They may not have lied. I work in an EA and you would be amazed how many people don’t turn up for the appointments they’ve made. If the agent lies and says people had viewed when they feedback re: open house then obviously that’s not OK but it is likely they are as disappointed as you.

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.

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.