reveal pending price of a property? Would it be violating confidentiality if client's names are not mentioned? I study, study, study--law and ethics. I have not found an explicit answer yet. If there is an explicit answer, please quote chapter and verse. Is it ok to call and ask if you have a similar property in the same neighborhood? Is it a taboo? Thank you. (My broker is out to lunch

Have you taken your ethics class yet?

I think it is a case by case basis and only after the listing agent consults with the seller.

Under contract/pending price is not to be disclosed.
In the event the transaction does not close, the sellers accepted price would become "public" knowledge, therefore jeopardizing the seller’s chance of getting the most for the property. The listing agents fiduciary responsibility is usually with the seller and should not be broken.
Even if it is full price, things can change before closing, such as inspection concessions etc.
Read COE, Art.1, SOP 1-9 and 1-15.

You can't divulge anything that the seller does not allow you to divulge. And it is showing your hand to share sale price before closing.
I still try to get sales prices from other agents if I need them for comps. And I get them most of the time. But I don't give them unless 1-sale price is above list and 2-I have seller's permission and 3-the deal is days from closing.
--A

-Ohio- I almost didn't ask because I knew someone would respond as you did. Yes, I have taken my ethics class. Perhaps I did not post my question as clearly as I should have.

By the way, IMHO, your website is interesting.

I actually keep state Real Estate Law open on my Desk, the Code of Ethics is within an arm’s reach. I would rather make a fool of
myself with you guys than in front of a REALTOR that I have to work with.

Greg, PikesPeak, and Upscale: The reason I doubted my understanding enough to ask you guys is because the client who asked me to let him
know if an offer was placed and if I could find out the $ amount so he could top it – is a RE Litigation attorney. I told him the Listing Realtor would possibly let me know if there were other offers—but, I doubted that she would let me know the $ amount of the offer. I just want to be totally, indisputably correct when I serve him and how I respond to him.

Sometimes I wonder if I am being field tested.
I had an Appraiser who made an offer on one of my listings. I ticked him off because I was not impressed with his work, AND my sellers were so unimpressed they would not even counter. (For me, it wasn't so much his work as his personality. He actually told me that for any issue, I could assume he was right.)

I had a closing with a REALTOR on the buyer side (smooth sailing-no insurmountable problems).
I expect an offer anytime from a Commercial RE Agent for a residential property.

Is this unusual to have so many RE professionals in transactions, or is it normal? It makes me a little nervous when I know that the people I serve know more than I do and have more experience. Still, I would rather serve
Each of them than not be moving listings.

The greatest test of all (yet)…I had a rather lengthy conversation with a new client (listing). He says, “I have to tell you something.” So, I’m thinking, now what? I mentally prepare myself to deal with some HUGE problem. So, I tell him, “Okay, go ahead” He says, “I’m African American.”
I was quiet for a moment, trying really hard not to laugh. I was trying not to pop off with “SO?”

He said, “Hello, are you there?” I told him I was thinking. I was trying to figure out what difference that could possibly make in our business relationship. I told him that not only do we have laws, and ethics—but we have currency. Currency is not a respecter of Race, Religion, Culture, Sexual Orientation, (etc., etc). In other words, just show me the money.

So, that’s why I’m thinking I’m being field tested. That is why I want to dot my i-s and cross my t-s.

Yes, I have a Broker. As I have time I investigate others with whom I may place my license with. Irreconcilable Differences?

Today, I was with clients formulating an offer. We had a question regarding flood insurance. I called my Broker and got his okay to
put him on speaker phone so we could all hear the same thing at the same time. His manner, not his answer—infuriated my client.

I don’t know. Maybe it’s a guy thing. He who talks loudest and longest without taking a breath –wins-?

No, not unusual. I have several real estate brokers that are investor clients. None of them has ever even asked me for a referral fee. Several of these brokers knew WAY more about investing and finance than I did when we started.....they have all been gracious enough to share info and insights with me over the years. When I was young in this career I asked lots of questions....most people truly don't mind answering if they don't think you'll use their own info against them. Be good to these folks and they will keep coming back to you, send you referrals, or both.

So long as these people know that you're honest with them, that you're truly working in their best interest, and that you value their business, the relationships that you form with them will last for years.

Good luck out there.

**Greg, PikesPeak, and Upscale: The reason I doubted my understanding enough to ask you guys is because the client who asked me to let him
know if an offer was placed and if I could find out the $ amount so he could top it – is a RE Litigation attorney. I told him the Listing Realtor would possibly let me know if there were other offers—but, I doubted that she would let me know the $ amount of the offer. I just want to be totally, indisputably correct when I serve him and how I respond to him.

Sometimes I wonder if I am being field tested.
***

I can sympathize. When I represent someone who is any sort of lawyer, I read every word of the contract to them
...and then find out all they want to know is where to initial and sign. LOL
--A

***I had an Appraiser who made an offer on one of my listings. I ticked him off because I was not impressed with his work, AND my sellers were so unimpressed they would not even counter. (For me, it wasn't so much his work as his personality. He actually told me that for any issue, I could assume he was right.)
***

This is actually the good part of the job. The giggles. ;-)
--A

Thanks. Your experiences provided me some needed comfort.