Can a Realtor legally tell you what another offer is?

We just got a call and the realtor would not tell us yesterday what the other offer was that was on the house currently due to privacy.

Today she calls and said that they got another offer (aside from the first offer and our offer) from someone else and told us the number.

When we put in the bid, she told us the first offer was higher but couldn't tell us what that was so we countered. I think we came in higher but now this new offer is out there - higher and should told us what it was.

What doesn't sound right is that the newer offer is 12K higher than ours and the realtor said can you go $5K more (than our own offer). Why would they not just go with the higher one - why would they take ours that is still less? It doesn't sound right. Why won't they do what I did and say "I will only go this low - take it or leave it".

Message edited 3/26/2007 5:23:03 PM.

Re: Can a Realtor legally tell you what another offer is?

They may not have been pre-approved
You may be putting more money down
It could be a number of things

Re: Can a Realtor legally tell you what another offer is?

Good points. We do have funding and are willing to put 10% down AND we're in contract on our house so we have to buy the darn thing.

Do you think they won't sell for $5K?

Re: Can a Realtor legally tell you what another offer is?

I can't say what the sellers would do, but if you can only go to a certain point, I would stick to the original offer. Unless you absolutely love the house and you don't think $5K more is too much.

The other offer may not even exist (or it could be a lousy offer in some ways), so the realtor may just be trying to drive up your offer.

Good luck!

Re: Can a Realtor legally tell you what another offer is?

who does the realtor work for? are they a sellers agent? buyers agent? or a brokers agent? unless they are a buyers agent they CANNOT tell you the offer because they would be breaking their fiduciary responsibilities to the person that they work for. it is unethical...however, it happens all the time! ...especially when that offer is higher than yours. they're playing a game now. trying to call your bluff to see if you are willing to go higher on your offer.

are you negotiating directly with the listing agent?

Re: Can a Realtor legally tell you what another offer is?

we definitely were not the highest bidders on our house, but we had a 20% DP without selling our house, so there was no concern with waiting.

I feel a bit sketchy that she was telling you the other offers and asking you to go $5K higher. If you loved it - I would consider it. If you could let it go, I would hold my ground

Re: Can a Realtor legally tell you what another offer is?

It sounds like your the most desirable buyer and for a few thousand more she could sell the deal to the sellers. If you have other houses on your radar screen, I might wait it out a few days and see what happens.

Re: Can a Realtor legally tell you what another offer is?

Your realtor sounds like she's playing a slily game with you. That higher bid can be non-existent.......but you just dont know.

I wouldn't offer a penny more than your counter. If she wants more, ask to meet halfway. $2500 is not that far to meet if she really wants the sale.