Quote:
Originally Posted by Realtor 1
The name and brokerage of every real estate agent involved in the bidding war is given by the list agent for the other agents to verify.
|
Just to follow up on the earlier conversation, I saw this today:
http://www.moneyville.ca/article/122...-no-rival-bids
It should be mandatory for listing agents to provide potential buyers with a roster of all brokers and agents making offers on the same property — before the presentation of offers begins, says Stern, who believed there were three interested bidders.
It was only when the listing agent came back to her “10 minutes later” to say her clients’ bid had been accepted that Stern realized there was something wrong. She had been expecting a late night of bids and counter bids.
Why is it different in Toronto? CREB has stuff like:
16.02 (4) In the event that the Listing Brokerage has more than one written offer to be presented, prior to any offer being presented, the Listing Brokerage shall inform the other competing cooperating brokerages of the existence of all other written offers and/or counteroffers, unless given a lawful written instruction to the contrary from the Seller. Unless instructed not to, when the Listing Associate is dealing with competing Offers, the names of the competing Buyer’s Associates and the Brokerage will be provided to the Associates representing the competing Buyers.
Under no circumstances may the price or terms of a Purchase Contract which is under consideration be disclosed as a means of obtaining a better Purchase Contract from another party. The price, terms or conditions shall not be disclosed, except to the Seller.