![]() ![]() Best practice is to obtain the authorization from the seller in writing. (emphasis added)Įssentially, if authorized by the seller, terms of offers can be disclosed to competing buyers or their agents unless there are state laws or confidentiality agreements that specifically prohibit that disclosure (See see also, ). ![]() Where disclosure is authorized, REALTORS® shall also disclose whether offers were obtained by the listing licensee, another licensee in the listing firm, or by a cooperating broker. REALTORS®, in response to inquiries from buyers or cooperating brokers shall, with the sellers’ approval, disclose the existence of offers on the property. Cooperation involves sharing of relevant information.Īrticle 1 of the Code of Ethics imposes two obligations on licensees: first, licensees are required to “protect and promote the interests of their client,” and second, licensees are obligated “to treat all parties fairly.” An agent is permitted to disclose the existence and source of other offers to buyers and cooperating brokers, with authorization from the seller ( See NAR Code of Ethics Manual, Presenting and Negotiating Multiple Offers). The Code of Ethics obligates REALTORS® to be honest with all parties to present offers and counter-offers quickly and objectively to protect and promote the interests of their client and to cooperate with other brokers ( See NAR Code of Ethics Manual, Presenting and Negotiating Multiple Offers). REALTORS® are subject to state real estate regulation and the NAR Code of Ethics. Best practice is to obtain the authorization from the seller in writing.Īnalysis of this response under the Code of Ethics of the National Association of REALTORS® (NAR) and Louisiana law are discussed below. Yes, this is permissible if authorized by the seller, unless there is a confidentiality agreement that prohibits that disclosure. ![]()
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