What should a real estate agent do if several clients want to buy the same property?

When several clients express interest in purchasing the same property, the best approach for a real estate agent is to disclose the situation to all clients without revealing specific details about the competing offers. This fosters transparency in the transaction process and ensures that all parties are aware of the competition for the property. Ethical standards in real estate require agents to act in the best interest of their clients while also maintaining fairness.

By informing all clients that there are other interested parties, the agent encourages an open dialogue and allows clients to make informed decisions regarding their offers. This also aligns with the duty of loyalty and confidentiality that agents owe to each client. While the agent must be careful not to disclose sensitive information about offers, ensuring all interested buyers are aware of the competition promotes a fair bidding environment and can potentially lead to higher offers.

Other potential approaches, such as allowing clients to submit offers without disclosing other interest or implementing a first-come, first-served policy, may not adequately address the ethical obligations of the agent or might not serve the best interests of the clients. Referring clients to other licensees could also leave clients feeling unsupported in a competitive situation. Therefore, disclosing the existence of multiple interested buyers stands out as the most responsible action.