Navigating Multiple Offers

If you receive more than one offer on a property, i.e., “multiple offers”,  per Commission Rule 58A .0106(c), you must present all offers to the seller as soon as possible, but no later than three days after receipt.

Are Multiple Offers a Material Fact?

Link: https://youtu.be/1PC4uZdsWIo

Script: No. The existence of multiple offers is not considered a material fact and does not have to be disclosed to other brokers and/or their clients. However, if the seller gives consent to the listing agent, they may disclose that multiple offers exist—but in doing so, they have a duty to share the information fairly, equally, and honestly with everyone.

Handling multiple offers on a property can be complex but understanding your responsibilities under Commission rules ensures compliance. The Commission has published a section entitled Contracts in the 2020-2021 Update Course that explains how brokers should navigate a transaction that includes multiple offers. You can review this information here.

If you have additional questions, please visit the Commission’s website at www.ncrec.gov.