Is refusing to submit my buyer’s offer an ethics violation?
02/25/2016 | Author: Editorial Staff
After submitting my buyer’s offer for a property, the listing agent told me she wasn’t going to present the offer to her sellers because she thought it was too low. I told the listing agent that it’s a legitimate offer and she should leave it up to the sellers to decide how to proceed. Will she be in violation of the Code of Ethics if she doesn’t present my buyer’s offer?
If she doesn’t present the offer to the sellers due to her personal opinion instead of the sellers’ instructions, it’s likely a hearing panel would find her in violation of Standard of Practice 1-6 of the Code of Ethics, which says that REALTORS® shall submit offers and counteroffers objectively and as quickly as possible.
While the sellers may reject the offer, it is their right to do so (or accept it or submit a counteroffer)—not the agent’s. The only situation in which not presenting the offer would be acceptable is if the seller gave the listing agent explicit instructions to not present offers below a certain amount.
Even if the sellers have previously rejected an offer with your buyer’s purchase price or a higher one, the agent shouldn’t assume the sellers would reject your client’s offer. The sellers’ circumstances may have changed, or aspects of the offer other than the purchase price may outweigh the dollar amount.
Leave a Comment
The material provided here is for informational purposes only and is not intended and should not be considered as legal advice for your particular matter. You should contact your attorney to obtain advice with respect to any particular issue or problem. Applicability of the legal principles discussed in this material may differ substantially in individual situations.
While the Texas Association of REALTORS® has used reasonable efforts in collecting and preparing materials included here, due to the rapidly changing nature of the real estate marketplace and the law, and our reliance on information provided by outside sources, the Texas Association of REALTORS® makes no representation, warranty, or guarantee of the accuracy or reliability of any information provided here or elsewhere on texasrealestate.com. Any legal or other information found here, on texasrealestate.com, or at other sites to which we link, should be verified before it is relied upon.