Q: Do realtors have to tell you when they receive a contract on your house?
I am selling a house in Knoxville, TN and my realtor failed to tell me about an offer she received, when I asked her about it she told me they were a "back up plan" if another offer fell through. However, I have not signed a contract. The "back up plan" person sent her a contract and she lied to them and said she had a signed contract. Does she legally have to tell me about this contract? And if she does not, will it void my contract with her?
A: The real estate agent is a fiduciary- this relationship has a strict duty of loyalty and good faith. This conduct should be reported to any supervisory contacts ( the managing broker at the agency in question) and possibly to the state real estate licensing board. Consult a local real estate attorney to determine if your listing agreement has been breached such that you can terminate the agency.
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