The Ethical Agent: Florida Keys Edition

Is It a Code of Ethics Violation to Withhold an Accepted Offer?

Shannon Allen of Florida Realtors wrote an interesting article about this question. Below is my synopsis for those Keys agents who want to stay at the top of their game.

Question: A listing broker didn’t disclose an accepted offer to a buyer’s broker to keep attracting offers for their seller. The second buyer’s offer was then used to push the first buyer into waiving their contingency. The second broker, unaware of the first offer, filed a complaint. Was this a violation?

Answer: Yes. While promoting a seller’s interests is essential, NAR’s Code of Ethics requires brokers to treat all parties honestly.

Key Ethics Rules:

• Article 3: Realtors® must cooperate with other brokers unless it’s against their client’s best interest.
• Standard of Practice 3-6: Realtors® must disclose accepted offers, even with contingencies.
• Article 1: Realtors® must promote their client’s interests but cannot mislead others.

What Went Wrong?
The broker misled the second broker by not disclosing the accepted offer, violating SOP 3-6. While the seller benefited, honesty was compromised. Article 1 doesn’t override Article 3—both must be followed.

Lesson: Always disclose accepted offers to avoid ethical violations while still advocating for your client.

If you took the time to read this post, Congratulations, you are an agent at the top of the game!