March 29, 2010
Dear George: Someone made an offer well below the asking price on our home. Our REALTOR® told the buyers' REALTOR® "at that price, it's almost a short sale." We think that our REALTOR® made an unethical statement, since she essentially revealed what we owe on the house. How should we handle this?
Answer: It doesn't appear that your REALTOR®'s statement discloses any private, non-public, confidential details regarding your loan. A short sale is a sale in which the proceeds fall short of the balance owed on the property's loan. Your REALTOR®'s comment likely meant that the buyers' offer was so ridiculously low that it could only be interpreted as being an offer involved in a short sale. Let your REALTOR® know how you interpreted her statement, and tell her that if you continue with her representing you, you require that she receive all offers and deliver them to you without any comments to other REALTORS®.
E-mail a question to ask George & Chuck or fax it to 713-978-6684. The answers to questions in this column do not contain legal advice. If you wish to obtain legal advice, you should consult your own attorney.
