Question:
If a listing has a Suspended status on MLS, and a Buyer agent still submits an Offer, is the Listing agent still obligated to share the Offer with the Seller?
Answer:
The legal obligation to the Seller would be “yes” unless there were overriding instructions from the Seller to the contrary. Perhaps the Seller is on vacation, or in the hospital and right at the moment doesn’t want to deal with this issue. They suggested Cancellation, but you went the Suspension route. They do NOT want to hear anything. So, in circumstances like that, it would be a “no”.
Comment
During any such period of time, the issue of what happens if an Offer comes in should be raised with the Seller and the Seller’s response documented clearly for the file.
The prospective Buyer’s agent is likely to say that you have a legal obligation to present the Offer, but that’s not true!
Brian Madigan LL.B., Broker