When I began my real estate career approximately 18 years ago, I happened to be one of the lucky new agents who had an excellent in-office trainer/coach."? She focused on topics as we came to them in our real-world practice such as agency, disclosure, representation requirements, contracts, negotiation, integrity, professionalism, and ethics.

I was taught that when a listing agent receives an offer, the terms and conditions of the offer are kept confidential."? Those terms and conditions are not divulged to other agents within the office, other agents outside of the office, to other buyers - the terms and conditions are not divulged to anyone other than the owner of the property, the person the listing agent represents."? If a listing agent "shops the offer", it is considered unethical behavior."? Do you agree?

And, who hasn't been the victim of an unethical listing agent who has shared the details of the offer, perhaps"?with the listing agent's own buyer, or to another agent with interested buyers within the listing agent's office"?? Despicable behavior!"? Right"?? Isn't this the way you were trained"?? As a general rule, I believe this is the thinking, the belief system, of the majority of agents practicing today.

This past year, as I have facilitated seminars and workshops on agency, especially the Accredited Seller Representative (ASR)"?designation seminar and the Accredited Buyer Representative (ABR)"? designation seminar, a topic of interested and much discussion has emerged."? National Association of REALTORS Code of Ethics gives explicit instructions regarding specific advice that"?REALTORS must give to clients and potential clients, but the seminar discussion stems from the advice required in the 2006 addition to Standard of Practice 1-13 regarding advice to a buyer-client."? It reads as follows:

Standard of Practice 1-13 (#5)

When entering into buyer/tenant agreements, REALTORS must advise potential clients of the possibility that sellers or sellers' representatives may NOT treat the existence, terms, or conditions of offers as confidential unless confidentiality is required by law, regulation, or by any confidentiality agreement between the parties.

Did you get that"?? We must advise buyer-clients that there is a possibility that sellers or their representatives may NOT keep the terms or conditions of offers as confidential unless confidentiality is required by law or by a confidentiality agreement between the parties."? Do you know if your state laws require the details of an offer to be kept confidential"?? In my research, there are very few states with this requirement.

Is it wrong to divulge the terms and conditions of a buyer's offer to other agents or buyers"?? Is it wrong to "shop" the offer"?? Or, is shopping the offer a service that is performed in an attempt to get the best price for the property owner"?? In other words, a service performed in the best interest of the listing agent's client"?? A fiduciary duty?

So, what does all of this mean to you?

Does it mean that unless a buyer's agent gets a confidentiality agreement signed prior to submitting an offer to a listing agent, that the listing agent can divulge the terms and conditions of the buyer-client's offer"?? Inserting a confidentiality clause into the body of an offer would do no good - the listing agent would already have the offer prior to acceptance of a confidentiality agreement."? So, do we need to take the time to negotiate a confidentiality agreement prior to"?submission of an offer?

Does it mean that a buyer's agent should not submit an offer to a listing agent by fax hours before presentation to the seller, giving the listing agent time to divulge information to others"?? Does it mean that a buyer's agent should not submit an offer to a listing agent at all, but rather deliver the offer at the point of presentation"?? Does it mean that a buyer's agent should participate in the presentation of the"?buyer-client's offer to the seller"?? Oh, woe...does that mean that a listing agent will be giving up (of all things) control?

What exactly does it mean"?? I invite your thoughts and comments."? If your state has a law or regulation requiring confidentiality of terms and conditions of an offer, please respond citing the source and language.

Shopping an offer - Is it right or wrong"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""

What say ye?

Rhonda Hamilton is a professional speaker, author and consultant."? For more information regarding her services or to read other articles written by her, visit her website at"?www.RhondaHamilton.com.'