Legal Question in Real Estate Law in California
Is a real estate agent required to tell the buyer the dollar amount of other offers on the same property?
3 Answers from Attorneys
Supposedly, the seller's agent has not revealed anything but whehter ther are better offers that have been made. Sometimes they do reveal more information than that. As your representative, your agent legally should reveal to you all relevant information, which would include what other offers are. Real estate agents, however, usually do not feel duty bound to reveal everything. Legally you could supposedly go after your own agent, jbut no one in the real estate industry will support you in such an action.
Your agent has a fiduciary duty to work hand-and-glove with you, and that includes a duty to pass along all useful and strategic information of which he or she is aware. The seller's agent does not have such a duty, and only needs to avoid misrepresenting what he or she may know about a competing offer.
I am disappointed in the previous two answers. You don't identfy whose agent you are talking about: buyer's, seller's or dual. Without that information, any answer is completely unreliable and the two previous attorneys should have told you that.