Disclosure of competing offers in real estate transactions involves a realtor’s potential sharing of information regarding the number, terms, or conditions of other bids submitted on a property. For example, a seller’s agent might inform a prospective buyer that there are two other offers, one for slightly less than the asking price and another with specific contingencies.
Understanding the degree to which offer details can be revealed is crucial for maintaining a fair and transparent market. Knowing this information can influence a buyer’s strategy, potentially leading to a more competitive offer and ultimately affecting the final sale price. Historically, the ethical and legal boundaries surrounding this practice have evolved, shaped by regulations aimed at protecting both buyers and sellers.
