There is nothing in license law requiring such disclosure. The Listing Agent should explain to their Seller the potential scenarios of disclosing multiple offers though. Normally, it is a good idea to let other agents know when they are in a multiple because typically it will cause the Buyers to put forth their highest and best offer. However, sometimes when a Buyer is informed that they are in a multiple, the Buyer may not want to get into a “bidding war” and may decide to pull their offer or may decide not to write an offer at all. When multiple offers are received, the Seller should decide which offer they want to work with and either accept or counter that one offer. If countered and the Buyer does not accept, then the Seller may decide to work with another offer. When deciding to work with another offer, the Seller should reject the first offer in writing and go on to the next best offer. Multiple offers are usually a positive for a Seller and should result in a sale! Please feel free to read more from the article written by Peg Ritenour, OAR.
Ritenour, P. (Composer). (2013, August 19). Is notification required when multiple offers are received? [Print Photo]. Retrieved from http://ohiorealtors.org/2013/08/05/legally-speaking-is-notification-required-when-multiple-offers-are-received/