What should a broker do when an offeror makes a lower offer after an initial offer has been made?

When an offeror submits a lower offer following an initial offer, the broker has an obligation to present this new offer to the offeree. This is important because the offeree needs to be aware of all offers made on their property in order to make informed decisions. Presenting all offers aligns with the broker's fiduciary duty to act in the best interest of the client, promoting transparency and ensuring that the offeree can assess their options effectively.

By presenting the lower offer, the broker facilitates communication between the parties involved and supports the offeree in evaluating the current market dynamics and potential negotiation strategies. Ignoring the offer or delaying its presentation can hinder the offeree's ability to negotiate or consider their response adequately, which could result in lost opportunities either for the buyer or the seller. This proactive approach emphasizes the broker's role as an intermediary and ensures that all parties are fully informed of the situation at hand.