7 Responses to “Can real estate agents lie about the amount of offers on a property?”

1. Heather V
   Comment by Heather V | 02/23/09 at 12:58 pm

   Oakland retail space

   highly unlikely they would lie. The price might have fallen because the first offer fell thru. Agents want to sell as fast as possible and since you offer the full asking price they have no reason to lie

2. Geoff H
   Comment by Geoff H | 02/24/09 at 7:11 am

   cosmetic dentist San Francisco

   Depending what country you are in as to governing laws. In Qld Australia when there is multiple offers each Buyer must sign a multiple offer form which states basically that you should make your best offer because there maybe a chance the Seller may accept one of the others. If 2 or all offers are near the same the Seller will have a decision to make as to accepting whatever contract , relying on terms and conditions and settlement date, or he can instruct his agent to go back to all parties and see if anyone is going to go any higher in there offer. The agent sounds a bit shady and you need to speak to whatever governing body regulates Real Estate Agents

3. acermill
   Comment by acermill | 02/26/09 at 1:41 pm

   Semi Truck Accessories

   Situations such as you describe do happen. Not overly common, but nor rare either. The price drop has nothing to do with the offers tendered, since banks do that ‘automatically’ on a time frame. The person dropping the price may not even know there are offers on the table.

   It is your call whether you wish to withdraw your offer and offer again at a lower price. Hard to tell you which way to go in this one.

4. Leo F
   Comment by Leo F | 02/27/09 at 8:25 am

   San Jose Costa Rica Private Investigator

   Remember agent are paid only when they sell a home and are paid on a percent of the sales price. And of course agent lie just like a car salesman as they have the most to gain

5. Mr Placid
   Comment by Mr Placid | 03/02/09 at 3:07 am

   Document Destruction

   When you go to a car dealership, and you see a car that you like, but you aren’t sure you want to buy it at that moment, do you think the salesman is telling the truth when he says, “I had two people looking at this car this morning; this car is very popular. It will probably be sold by the end of the day if you don’t buy it now.”

   Just stick by your offer. You obviously put some thought into it; don’t fall for the *seller’s* agent’s pitch.

   Edit: Sorry Leo; didn’t see your answer before typing mine.

6. maria791967
   Comment by maria791967 | 03/03/09 at 12:28 am

   walk in bath tubs

   I had the same thing happen to me with my home. We spoke with the owners of the home, the house had been on the market for a long time. She accepted our offer and a copule of weeks before we were supposed to close, the real estate office calls and tells that there was another offer on the table and that the owner could get more money from the other person, even though we already had an agreement with the homeowner.

   I told her, well if that is the case, I wish her well and the owner should take the other offer because we are not going up in price, not even another dollar.

   After an hour on the phone with the real estate agency, I called there bluff and got my house with the original offer that we gave the owner.

   Real Estates are supposed to represent both parties but they also get a percentage of the purchase price so they are not always on the up and up.

   good luck.

7. estielmo
   Comment by estielmo | 03/03/09 at 5:01 pm

   Marathon Key rentals

   The devil is in the details. Who made the offers and what is their relationship to all the parties? You’ll never know but what if the real estate company makes standing bids at 50% of asking price and the bank does, too? That’s two offers right there.

   Personally, if you have a Buyers Agent I’d merely tell him your best offer and then step back and wait. Never be pressured into a bidding war.

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