Can a Broker do this?

An exclusive contract with the seller generally outlines a fudicuiary responsibility to the seller. Giving another buyer the amount of a bid on the table does happen but this is not in the best interest of the seller. Unfortunately, it also happens that selling brokers will sometimes misrepresent the bids they have or make them up completely. I think the best advice is to bid what you believe the value is based on the most recent market comparables.

There are TWO obligations here, one an obligation towards other parties across the table -- the other bidders -- and then one towards the seller to achieve the sellers aims (generally, to maximize price while acting in an ethically consistent manner.)

The balancing act is generally interpreted as being able to disclose ranges of bidding with the permission of the seller, if one is not in an active back-and-forth with other buyers.

Example of what's okay: "You can bid $1.8, but I have to tell you, we've already turned down $1.9."

Example of what's not okay: "Our bidder Saturday bid $1.8, so $1.9 would win it for you."

See the difference?

ali r.
DG Neary Realty

"borkers....make them up completely" FLMAO.... and you are a "pro".... so tell me how do you deal with lying fkers? well you lie back and it degenerates into a clusterfk.... nice going brokerage industry!!! WHOOT ... awesome job.... forget the pedophiles..... 20/20 should "expose" these brokers on the air... come on someone produce this this.. I'll bankroll it... FLMAO

"You can bid $1.8, but I have to tell you, we've already turned down $1.9."

As Josh pointed out, the problem is the last part of the above statement could be a total lie.

When I give direction, it's honest, and I know a number of other agents from other firms who are the same way.

But of course the possibility that a broker is simply lying is a problem, and of course the best way for the potential buyer to test it is to bid the number that they feel comfortable with regardless of seller-side anchoring or feedback.

ali r.
DG Neary Realty