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No Confidentiality for Offers

Registered Salesperson real estate

Beware.  As a buyer, if you submit an offer to a seller who is just posting their listing on the MLS, and it’s not being handled by a Registered Salesperson, there is no obligation to keep the terms and conditions of your offer confidential.

Real Estate Brokers and Salesperson’s are governed by the Real Estate and Business Brokers Act and must abide by it’s regulations, but it does not govern the conduct or actions of non-registrants.

So if you submit an offer to what is essentially a “For Sale By Owner” situation, be prepared to have your offer shown to other interested parties, and they can use it to shop for a better offer.  Basically use your offer to better their position.

You know the saying goes “A lawyer who represents himself has a fool for a client”.

Real estate can be complicated, hire a professional, don’t be a fool.