do brokers lie about received offers?

does the pope sh*t in the woods?

eat, shit, pay taxes, sun rises, sun sets, and yes, brokers lie !

We had an experience where the listing broker lied to us and said there was a competing offer and that we needed to put in a best and final - just trying to get our offer increased. We stuck with our number, they "accepted" our offer 3 days later, but we found another place in the meantime. That apt., which had already been on the mrkt for 3 months, stayed on the market another 4 months and was sold for $50K less than our offer. The broker lost the listing soon after they lost our offer. I can't say with 100% certainty that the broker lied, but it is the only real plausible scenario.

What I love about this thread is:

1. This website is constantly trolled by brokers
2. Not one of these trolling brokers has bothered to even mutter anything sounding like a denial or protest against the accusation that they lie.

Nuff said.

They're all out looking for new jobs.

I recently read on another blog "If you see the broker's mouth move, it's a lie.". I thought that was classic.

zizizi....they are not looking for jobs...why would they? If you listen to them, the market is great, buyers offering way over asking, it's a great day to be a broker....i might quit my job and submit by resume

Let's also not forget that often times when the broker lies about having other offers or the amount of other offers, the seller is actually aware of that - so it is also the seller's fault to some degree. I posted above and agree it happens and oftentimes only with the brokers knowledge, but sometimes they have a willing accomplice.

Yournamehere--broker here. Perhaps noone has bothered to deny because it is such a stupid question, sounding very much like an attempt to elicit anti-broker rhetoric. The answer is so obvious--Are brokers supposed to do this? NO. Do the ethical ones do this? NO.Do some brokers do this? Well Of course they do!! Sometimes it gets tedious to respond to this kind of thread where everyone who has thus far responded seems to think the answer is "YES ALL BROKERS LIE". I know this to be bullshit, but hey, if it makes you happy to believe this I am unlikely to change your mind by responding on an anonymous message board.

Name any profession where there is money to be made and you will find a liar in that profession. I don't think just RE Brokers, car sales people, stock brokers and lawyers have the monopoly on this.

I believe a broker could lose his/her license for this but it's difficult to prove. So, yeah, they lie. I'm pretty sure the broker who sold me my place lied about a competing bid - I held my ground an my offer was accepted.

Most brokers Ive dealt with lie with reckless abandon. That's why I am reluctant to deal with them. I have met some honest/educated brokers but the sad thing is most of them are quite shady.

I'd like to avoid brokers too since i've had bad experiences with them but most of the places for sale are listed by brokers. There's no avoiding them. Putting in offers in this city seems like playing poker to me. You have to call each other's bluffs!

All you broker haters looking to buy here's a tidbit of money saving advice. if you have a lawyer who's a friend, use them as the "buyer's" broker on a co-broke and throw them some nominal fee for their time. All lawyers licensed in New York by virtue thereof may act as real estate brokers without the need for a license. Fact. i am an attorney.

I asked my lawyer the exact same question this morning and he advised me that I have no recourse against any broker that does this. All he could say was that it was unethical and the broker would risk "tarnishing his reputation". fizzbo the timing of your question is quite curious to me. Something tells me you took that special, outsized brooklyn 1 bdrm in brooklyn out from under my feet. If so you can rest assured it was a real offer.

Fizzbo--putting any quibbles about the percentage of "good" versus "bad" brokers aside, what would make you think that dealing directly with an owner would NOT be like playing poker?
and randomguy71--I assume you realize that buyer's brokers are not paid by the buyer, but by the seller. So do you mean one's lawyer buddy would kickback some of the fee? Anyway, if you are going to have a buyer's broker--have a real broker and a good one. If you don't want to then go it alone--that can SOMETIMES work to your advantage as well. But having some attorney just act as your buyers broker is the worst of all worlds.

when I was selling my apt last year with a broker fron Elliman, I hid a webcam and watched the open house. The broker did lie many things. I would never trust them, but, I also had an experience that I was going to buy a coop apt which the broker told me there is an offer (after being on the market for many months), I did not trust it but there was and the listing was gone..

Whats worse than brokers lying and creating the fake competition to push prices higher, is the rest of you small minded buyer/posters then constantly cheering the inflated prices that are created. Ever notice the contradiction? Or is that too much for the hollow cranium to handle? When someone tells you to be prudent about the way you make offers and compensate with lower bidding you then pull out the old wild card of "bitter renter, must be a bitter renter", playing right into the hands of all those brokers you love to hate in the next thread. You are all just to grateful, happy and content to take it up the butt, hence the greedy, lying brokers always win.

luhuaemily > i don't know what you're talking about but i did lost a bid. It's just amazing how there are so many people trying to buy in this city. Seems like you have to expect to get into a bidding war everytime you like something.

nyg> you're right. FSBO is also tricky, I really don't know how we can stream line this experience.
nyc is such a different beast!

Bonzo = bitter renter

fizzbo > I put a bid on a place and while I was waiting to hear back within a few hours the broker managed to conjure a full ask offer out of someone else, I assume by threatening that they were going to take my offer. It was just the time at which you posted that I found to be curious. Probably just a coincedence. Otherwise no hard feelings its just business. Cheers!

nyg -- well put.

The bottom line is, if you really want the apt, make your best offer. Don't go above what you're comfortable paying if you can deal with losing it.

Many buyers ask--"Are there other offers"... The listing agent works for the seller so they don't have to answer (this can be misleading as another offer can come in at any time).. Even if the answer is yes, brokers are not allowed to discuss the details of the other offer unless the seller asks them to. It creates an unleveled playing field.

Sometimes buyers back out...happens.

does not anyome know that it is the brokers fiduciary duty to get the most for the seller and there are no guidelines on how to do this, would you expect a broker selling your home to reveal to all of the other buyers how much the offers are? no of course not, you wouldnt poossibly be able to get the best price, a broker is only allowed to reveal to a potentil buyer what his sellrs wants them to know.. this is the law!! thats what a good broker does unfortunately some of you have been on the short end of all this and are bitter about brokers..they are just doing there job

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