Is it legal for an agent to disclose offer for xx amount?

At an inspection on the weekend the agent told me they an offer for $x.

Today, I was told by a different agent they had an offer for $x-y. It was less than what the other agent told me on Saturday so no doubt it's 100% complete and utter rubbish.

Just wondering if this is legal?

 

Agents I'm dealing with are telling me offers they have received through other private parties. I have no problem with this. I believe it's legal.

 

I'm confused, are these agents from the same business? are they co-agents on the listing?

 

If an agent is going to divulge other buyers offers then:
1. No it is not illegal but many agents won't do it as an ethical issue
2. It has to be the truth

 

They can, but if they do it has to be factual.

Most will avoid it though, as there's more negotiating power otherwise. They're on the vendor's side, remember.

 

Same business, same property. Two different agents. Agent A and Agent B.

The agent listed on the property advertisement (Agent A) was not there on Saturday, but another agent (Agent B) who was there disclosed an offer of $x.

Yesterday Agent A disclosed an offer of $x-y.

 

Sounds like they can't even get their "story" straight.... Generally, It's very poor practice to reveal any other offers. For 2 reasons. First is, you may have offered way more. Also, If he/she is telling you what their (other buyer) offer is, you would have to expect that as soon as they have your offer they are going straight back to the other buyer with your price... etc etc Pretty good way to burn potential buyers and p#@s people off !!

 

Yeah, pretty much. However, it seems to me they are just using a strategy of fake competition to try and solicit an offer.

 

In SA, illegal for another party's offer to be disclosed

 

Agents I deal with in QLD will use the terms expressions of interest and offers interchangeably when it suits them.

It's all games. Half of the time they're telling half truths so I try not to entertain noise like this and just move on with the property and what I want to do. I'd rather focus on what I want than where the agent is steering me. (Easier said than done sometimes though)

 

They're pretty much the same thing except that on offer is on a contract and an EOI is on a proforma.

 

Illegal in the NT

 

And one is not worth the paper it's written on. (Not meaning to sound harsh just my experience)

 

Agents lie, simple as that.

I am dealing with one now that openly says they lie when giving info, pretty stupid really, same for cops, they are not compelled to tell the truth.

What law stops an agent from lying ? so how many do you think engage in it or in not supplying the full truth ?.....

 

Where or how is it illegal ? are people sure it is illegal, or do they mean there are guidelines that suggest you not do it.

is it actually legislated and clearly stating no offer can be disclosed ?

because if true, 50% probably need locking up, they can say you need to offer over this amount (same thing) or, telling you what someone has paid when contract is not unconditional, that is revealing the accepted offer, piles of them do this, even though clearly they should not.

Frankly, I think it is all too complicated & agents are often viewed in same light as used car sales & for very good reason IMO. The good agents will forge long term contacts and business, but many can't see past the next sale, so it is what it is.

 

I think you won the lolly pop today sir....

 

Nothing is worth the paper it is written on, the proof is close once unconditional, but it ain't over till the fat lady sings and all the money has exchanged.

 

Thanks, I feel like strawberry ?

 

@Agent30yrs.

Touche