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  1. #1
    Join Date
    Oct 2012
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    29

    Default Does a Seller's Agent Have to Inform a Prospective Buyer About Higher Offers

    My question involves real estate located in the State of: Southern California

    I spoke with the seller's agent. I asked him if they had any offers yet. He said yes. I asked how much. He said he couldn't disclose. The property was listed for $700K. I said, do you have offers for $800K? He said, oh no, it won't sell for that much, we have offers in the mid 700's. I said ok, we will be putting in a strong offer. We put in an offer for $775K, 3% initial deposit, no loan contingency, no appraisal contingency, $250K down payment. That night I noticed the property was delisted (not set to pending but delisted!). I immediately contacted the seller, he says he delisted it because he was getting too many offers. But that he would be submitting our offer to the seller and getting us a counter the next day. I don't hear back and so I call him mid-day and he says the seller went with another higher offer. Really? So first you say it won't go for anything near $800K, then you delist the property before accepting an offer, then you say you'll send me a counter but don't, and then you end up selling to someone else? Something sounds really fishy here. My question is, is what he did legal? We would have presented an $800K+ offer.

  2. #2
    Join Date
    Oct 2016
    Posts
    3,568

    Default Re: Is What This Seller's Agent Did Legal

    Not at all. The only two errors he made were not advising the sell to sell the house for more in the first place and not mentioning to the seller that somebody mentioned $800k after you mentioned it.

  3. #3
    Join Date
    Oct 2012
    Posts
    29

    Default Re: Is What This Seller's Agent Did Legal

    Quote Quoting PayrolGuy
    View Post
    Not at all. The only two errors he made were not advising the sell to sell the house for more in the first place and not mentioning to the seller that somebody mentioned $800k after you mentioned it.
    What should I do? File a complaint with DRE?

  4. #4
    Join Date
    Oct 2016
    Posts
    3,568

    Default Re: Is What This Seller's Agent Did Legal

    It was really the seller that got screwed in the deal not you. And when I said errors I meant errors not illegal acts.

    Had you made a formal offer of $800K and it wasn't passed on to the seller it would be different.

  5. #5
    Join Date
    Oct 2012
    Posts
    29

    Default Re: Is What This Seller's Agent Did Legal

    Quote Quoting PayrolGuy
    View Post
    It was really the seller that got screwed in the deal not you. And when I said errors I meant errors not illegal acts.

    Had you made a formal offer of $800K and it wasn't passed on to the seller it would be different.
    Ah, ok. I feel like he told me that ($800K is too high) because he had another offer that he wanted to accept for some reason (friend, family, or double ending the deal).

  6. #6
    Join Date
    Jan 2006
    Posts
    38,867

    Default Re: Is What This Seller's Agent Did Legal

    It is not the agent’s decision to delist a property. It is the sellers decision.

    If you wrote an offer and it was recieved by the agent, the agent was legally obligated to submit it to the seller unless the seller gave instructions not to for whatever reason.

    The sellers agent has a fiduciary obligation to act in the best interest of the seller. If he failed to do so the seller may have some action against the agent


    bottom line; you have no action against anybody.

  7. #7
    Join Date
    Oct 2016
    Posts
    3,568

    Default Re: Is What This Seller's Agent Did Legal

    You really think the agent is going to give up $3k or more in commissions, risk his licence and risk getting sued for a buddy?

  8. #8
    Join Date
    Oct 2012
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    29

    Default Re: Is What This Seller's Agent Did Legal

    Quote Quoting PayrolGuy
    View Post
    You really think the agent is going to give up $3k or more in commissions, risk his licence and risk getting sued for a buddy?
    No, but to double end a deal, yes.

  9. #9
    Join Date
    Oct 2016
    Posts
    3,568

    Default Re: Is What This Seller's Agent Did Legal

    Define double end deal for me.

  10. #10
    Join Date
    Dec 2008
    Posts
    627

    Default Re: Is What This Seller's Agent Did Legal

    I suspect that what is meant by Double End the deal is that the same agent represents the seller and also finds a buyer so they got both the selling agent and buying agent commissions.

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