Main Menu
Education & Research
Michael L. McVinney - WNY Real Estate | Ethics and avoiding a bidding war
post-template-default,single,single-post,postid-110958,single-format-standard,ajax_fade,page_not_loaded,,side_area_uncovered_from_content,qode-theme-ver-16.7,qode-theme-bridge,wpb-js-composer js-comp-ver-6.1,vc_responsive

Ethics and avoiding a bidding war

Ethics and avoiding a bidding war

Since I've been coming out short on any of the bidding wars I've been in, I have a question about ethics.

So, if I put in an offer on a house and the listing agent comes back and says they've received multiple offers and that we need to put in our best offer (i.e. a second, higher offer) by a set time. Thus, a bidding war.

In order to avoid the foolishness, is it ethical (by agent standards), for my buyers agent to ask the listing agent to have the sellers set a new asking price on the house or to look over the current offers and then present a counteroffer to me specifically?

As I see it, bidding wars are not automatic or required. The seller could just make a decision from all of the current submitted offers. A seller could pull any of the current offers and do a counteroffer. Isn't that true?

Is there anything my agent can do ethically that can give me some sort of advantage or control?

submitted by /u/70redgal70
[link] [comments]