Do Estate Agents Have To Tell You About Other Offers?
People often call moving home the most stressful thing a person can do as it can be very nerve-racking. Will someone accept your offer, and do estate agents have to tell you about other offers? Let’s dive in!
Can you find out if there are other offers on a house?
Estate agents must inform potential buyers about other offers they had on the property. However, they do not have to share the offer amounts.
If you want to buy a home and someone else makes an offer, the estate agent must inform you that they’ve received another offer. However, they should not reveal details like the buyer’s name or exact offer amount.
Beyond that, estate agents are legally required not to show any bias against any potential buyers. They have a duty to treat all buyers the same and must not discriminate. Or threaten to discriminate against a prospective buyer.
For instance, an agent is legally obliged to pass all offers on to the seller. They can’t simply refuse this because you didn’t want to use their in-house mortgage broker for example.
What happens when there are multiple offers on a house?
It’s not uncommon for a house to receive multiple offers, especially if it’s a popular location. In such situations, some sellers might hope to start competitive bidding to attract the maximum value from their home.
While competitive bidding isn’t something any homebuyer wants, it’s how you approach it that’s key. A word of warning, however, be careful not to let your heart rule your head and end up offering more than you can realistically afford.
Multiple bids for the same property can drive up the final price that’s ultimately paid.
Also referred to as sealed bids estate agents invite a ‘best and final’ offer from all interested parties. You submit your confidential offer by a set date which is then considered by the seller. They then choose which offer to go with.
If you’re faced with the prospect of a sealed bid, you may decide to participate or walk away and look elsewhere for another property.
Can the seller disclose offer amounts?
Sellers can permit estate agents to disclose other offer amounts to other buyers. However, this isn’t common and can create issues if there’s no way for potential buyers to verify the offer amount.
For instance, a buyer might think the agent is fabricating the amount to get them to make a higher offer. For that reason, it’s rare for agents to disclose the offer amount to prospective buyers.
Can I offer on a property ‘sold subject to contract’?
Trading Standards state that if a seller is still open to accepting offers on their property, even though they have accepted one then ‘sold subject to contract’ shouldn’t be on the listing. It should remain as ‘for sale’ with the asking price clearly, listed. A seller must confirm this to their estate agent which must also be confirmed to any prospective buyers.
In an ideal world as a buyer, once you’ve had an offer accepted, you should request that a property be removed from all further marketing and promotion.
Unless a reservation agreement is in place between a buyer and seller, a seller can still accept other offers right up until the exchange of contracts. This is known as gazumping and is when a seller swaps buyers for a higher offer.
What other information do estate agents need to give buyers?
Estate agents and homeowners are now required to provide what is known as material information when listing a home for sale.
Material information is “information an average consumer needs within the context of the product, service or, in the case of property, housing” that influences their decision to buy something or not.
In relation to property this includes things like the council tax band, the tenure of the property i.e. is it freehold or leasehold, if there are service charges, ground rents, to name but a few.
All of this should be included in the property listing. It can greatly affect your decisions and the price you may offer.
Sellers and their estate agents are required by law to disclose this information to ensure fairness and transparency. If an estate agent fails to include necessary details in the property listing, there can be serious consequences, including fines.
Estate agents must:
- Accurately describe the property
- Not withhold important information
- Pass on offers to the seller
- Not show bias for or against buyers
Most estate agents abide by the rules and codes of conduct and aim to provide the best possible service. However, if you believe an estate agent is lying or an estate agency is lying and isn’t complying, you can make a complaint. More on this below!
What if estate agent lie about offers?
While most agents are following the rules, there may be the odd few that bend the truth to gain an advantage in the hope you might increase your offer.
By law, estate agents should not lie about offers. In the UK, they are bound by the Estate Agents Act 1979, which requires them to act fairly and transparently. However, some less scrupulous agents may use vague wording or misleading tactics – so be alert to …
- “We’ve had a lot of interest in this property.”
- “We’re expecting this one to go quickly.”
- “There’s another strong offer on the table.”
- “All serious offers considered.”
Although these statements might be true, it’s smart to be careful with such claims.
Most agents are honest, but it’s good to conduct your own house research too. Before making any offers, take your time to learn about the property and its area. Look into things like nearby schools and what the neighbourhood is like. Using a property report can give you a detailed look at the house. Helping you know more and have a stronger position when you talk about the price.
Do estate agents have to prove other offers to buyers?
Estate agents in the UK are not legally required to provide buyers with written proof of other offers on a property. They are however required to operate transparently and honestly, and they must keep records of all offers received.
So, while you as a buyer may not see written proof of competing offers, the estate agent must report all offers to the seller and handle these with integrity.
This process is regulated to prevent unethical practices like inventing fake offers to pressure buyers into making higher offers.
It reassures buyers and sellers that the transaction process is managed professionally and transparently. According to the guidelines set by governing bodies such as The Property Ombudsman or the National Association of Estate Agents (Propertymark).
What happens if an estate agent lies?
If an estate agent is caught lying about offers, they could face serious consequences like reputational damage from online reviews or word of mouth, but they could face legal action.
Buyers or sellers who have suffered financial loss due to dishonesty may take legal action.
Regulatory bodies like the Property Ombudsman (TPO) and the National Trading Standards Estate and Letting Agency Team (NTSELAT) can impose fines.
Can I report estate agents for lying?
If you believe an estate agent has been dishonest, take the following steps:
- Raise a complaint with the manager at the estate agent’s office. Reputable estate agents have a formal complaints process.
- Contact The Property Ombudsman (TPO) or The Property Redress Scheme (PRS). Estate agents must belong to a redress scheme. This scheme helps handle complaints.
- Report them to the National Trading Standards Estate and Letting Agency Team (NTSELAT). If the issue is serious, they can investigate misconduct.
- If they are accredited agents of Propertymark must follow a code of conduct. If this has been breached, then contact Propertymark directly.
Making the right offer
It’s wise to set clear objectives before you view a house. At the end of the day, the ‘right offer’ should feel right to your personal circumstances. Even if there are other offers on the table, don’t stretch yourself financially—your dream house should fit within your means.
A good estate agent will support buyers and sellers at every step, through to successful completion. While they work for the seller, most agents value the buyer’s needs too, aiming for a desired outcome for everyone involved.
Last Updated: February 18th, 2025
