Is it ethical for a realtor to reveal the offer amount to another client before a contract was signed?

I don't think you should assume your Realtor told other potential buyers what offer you would accept. However, it's perfectly ethical for your Realtor to tell other people what is the best offer you have received if they think it's the proper strategy to raise the bidding. It is in your best interest (as well as the Realtor's best interest) to receiving competing bids. The first bidder might even up their offer after hearing about a higher competing offer.

the_unluckiest is blowing smoke, just like good salesmen do - you can read the Realtors ethics code for yourself at the link below. There's nothing inherently confidential about an offer unless revealing it is not in your best interest. Notably, his comment about "we have a very generous offer on the home" could be construed as violating Article 2, which states in part "REALTORS® shall avoid exaggeration, misrepresentation, or concealment of pertinent facts relating to the property or the transaction."

As a sidenote, some Realtors can be quite shady. As a buyer who put in an offer on a house and was still in negotiations with the seller, my own Realtor brought in another buyer to potentially offer a competing bid. Man was I PO'd! I had found the house through an Internet search, so the only "value" I got from my Realtor was a potential competing bid. After the deal fell through, I fired him and found a Realtor willing to split his commission with me. (As a buyer, since the sellers pay the commission, the only way to reduce the absurd amount Realtors are paid is to find one who will split commission with you.) As a buyer, splitting the commission with your Realtor is perfectly legal, don't let any of them tell you otherwise.

It is unethical and against his/her real estate board's rules and codes of conduct/ethics. A REALTOR® may say that another offer has come in but is NOT allowed to reveal the dollar value of that offer without the client's consent (in this case, you didn't give it). The reason that they don't tell is for the very reason you didn't want him/her to tell - because it means the other offers will know what to beat. Obviously if your REALTOR® said something like "we have a very generous offer on the home" or "we definitely have had a lot of interest in the home and there are several offers that are being presented", it will light a fire under a buyer's bum and if they want the house that badly, they'll either meet the listing price or even exceed it (since they don't know how close the other offers are to your listing price). It seems like your REALTOR® is just desperate to get the deal done and is willing to compromise your bargaining position and breach the trust you've placed in him/her.

I suggest you speak with your REALTOR® and explain that what s/he did was not appropriate or ethical. To be safe, you write him a letter that you have him sign (give him a copy and keep one for yourself) that he is not to disclose any information INCLUDING price of any other offers that come in. I don't even really think it's necessary to have this letter but it seems like your REALTOR® isn't up to date on his code of ethics required by his brokerage or his board. Tell him also that because of that, he has strained the types of offers that come in and you will be requesting a discount on his commission because he has jeopardized your position and HIS JOB which is to help you sell your home for the HIGHEST price possible.

The settlement became void and null. in case you signed an furnish, the supplier prevalent it with out adjustments, there would have been a binding and enforceable settlement. although, in you case, you signed the furnish, the supplier extra a clause on it; then there would be a counter furnish. You, simply by fact the shopper has to settle for the counter furnish to make the settlement binding. Now, you stated you probably did no longer comprehend with regard to the counter furnish, and you probably did no longer preliminary the further clause (or adjustments), then you definately can evaluate your unique furnish voided. To be secure, you may touch a criminal expert. so a ways as i comprehend, you have been out of the deal. you may report a criticism with regard to the Realtorr. He could be disciplined. pertaining to to the value: that's genuine that the Realto became no longer doing his activity appropriate. And that's genuine he shouldn't deserve any value in any respect. although that's extremely probably the supplier would nonetheless could pay the value as quickly as the deal is closed simply by fact the Realtor had already did his activity. no remember it became good or undesirable.