Is Notification Required When Multiple Offers Are Received?

 There is nothing in license law requiring such disclosure. The Listing Agent should explain to their Seller the potential scenarios of disclosing multiple offers though. Normally, it is a good idea to let other agents know when they are in a multiple because typically it will cause the Buyers to put forth their highest and best offer. However, sometimes when a Buyer is informed that they are in a multiple, the Buyer may not want to get into a “bidding war” and may decide to pull their offer or may decide not to write an offer at all. When multiple offers are received, the Seller should decide which offer they want to work with and either accept or counter that one offer. If countered and the Buyer does not accept, then the Seller may decide to work with another offer. http://www.realestateresource.tv