If a broker or salesperson is working for the seller of a property and they are notified that more than one offer has been registered, they must disclose the existence of the other offers to the brokers or salespeople representing the buyers.
The agent representing the seller must not disclose the contents of the offers to the other parties making the offers. They must disclose the number of competing offers that they have registered. The offers must in also writing according to contact law. This requirement was created to insure transparency when competing offers occur.
This requirement is found in REBBA 2002 Code of Ethics.
