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Can my own realtor undercut me in an offer?

I found a home online and had my realtor take me to see it. I decided to make an offer and when I got home I saw the price had dropped an additional $7,500. My realtor did not discover the price drop before we placed the offer. The house had been on the market for 40 days. The seller went back and forth with me for a few days then said they had another offer. I have a feeling my own realtor put an offer in because she too is home shopping. I'd like to know if this is illegal, unethical or just bad business.

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Unethical Realtor Practices
by: Jeffrey

Hello Anonymous;

I guess you felt that leaving your first name and location was not a wise thing to do.

You are right in drawing the conclusion that if your realtor went behind your back and made an offer on the same house at a lower price that this is bad business.

However I do believe it would be illegal since anyone can put in an offer to buy a house.

You sound like you have no real proof if this is the case. Have you ask the Realtor if they put in an offer?

So I guess my advice to you is to confront the realtor you're working with. If you feel they have been dishonest with you and beat you out of a deal, then contact your local Board of Realtors and see about filing a complaint.

Each local board is part of a state and national association and we all have to abide by a code of ethics.

Until you face it head on, you have no real leg to stand on. If you move on, later you can find out who bought the property by checking the address at the local registrar of deeds.

I'm not sure this is what you want to hear, but that is my 2 cents worth.

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