Why a written policy
Multiple-offer complaints tend to follow the same few patterns: a buyer’s agent says a competing agent was told something they weren’t; a buyer believes an offer was invented to push them up; an offer wasn’t presented, or was presented late; an in-house buyer seemed to get an edge. Almost none of these start with bad intent. They start with an agent improvising under pressure, and with no record of what was said.
A one-page written policy fixes both. It tells every agent in the office what to do before the pressure starts, and it turns each multiple-offer situation into a documented process. When a complaint arrives, the broker can point to the policy, the agent’s signed acknowledgment, and the file. That’s also what errors-and-omissions carriers and regulators want to see: a supervised, consistent process, not a promise that everyone meant well.
The four required sections, with model language
Every policy needs to answer four questions: what may be disclosed and when, how buyer’s agents are notified, how offers are presented to sellers, and what records are kept. Model language you can adapt:
- Before a listing goes live, the listing agent explains to the seller how multiple offers may be handled and obtains the seller’s written instructions on what may be disclosed about offers (their existence, number, source, price or terms).
- Agents disclose only what the seller has authorized in writing and applicable law allows, and never a buyer’s name or personal information.
- Any authorized disclosure is made to every buyer or buyer’s agent who asks, in the same words and at the same time.
- Agents never state or imply that an offer exists when it does not, or misstate the number, price or terms of offers.
- When a seller sets an offer deadline or requests final offers, the listing agent notifies every buyer’s agent who has submitted an offer or shown interest, in writing, at the same time.
- Each notice states the deadline (date, time and time zone), how offers are to be submitted, and what happens to offers already submitted.
- Deadlines are changed only with the seller’s approval, and every buyer’s agent is told of the change at the same time.
- Offers and changes to offers are accepted in writing only. Agents do not relay verbal offers or verbal increases as if they were offers.
- Every offer is presented to the seller objectively and as quickly as possible, including offers from buyers represented by this brokerage, unless the seller has waived presentation in writing.
- Offers are presented together, in a written side-by-side comparison showing at least price, net to seller, financing, contingencies and closing date.
- The seller decides whether to accept, counter or reject any offer. Agents advise; they do not decide.
- Where any offer comes from a buyer represented by this brokerage, the agent informs the managing broker before presenting, and follows this brokerage’s dual and designated agency procedures.
- The transaction file includes: the seller’s written disclosure instructions; every offer as received, with the date and time; every notice sent to buyer’s agents; the comparison presented to the seller; and the seller’s written decision.
- Agents log telephone conversations with buyer’s agents about offers (date, time, who, what was said).
- On a buyer’s agent’s written request, the listing agent confirms in writing that the offer was presented, or that the seller waived presentation.
- Records are kept for at least the period required by state law and this brokerage’s record-retention policy, whichever is longer.
The disclosure section has to fit your state. Wisconsin doesn’t allow sharing another buyer’s terms, North Carolina requires the offering buyer’s permission, and Minnesota requires an offer to be presented before its terms are shared. Check the rules for your state, and give agents the seller consent form so the seller’s instructions are written the same way every time.
Optional sections
Add these if they come up in your market. Model language for each:
Agents do not draft escalation clauses where state rules prohibit it. When a seller receives one, the agent reviews with the seller how it will be treated (at its cap, by requesting highest and best, or after legal review) and tells every buyer’s agent the same thing.
Where the listing agent is asked to represent a buyer on their own listing, the agent refers the buyer to another agent where practical, or proceeds only with the written consent required by state law and this brokerage’s procedures.
Agents do not pass buyer “love letters,” photos or personal information to sellers, to avoid decisions based on characteristics protected by fair housing law.
Offer deadlines fall on a weekday, never a holiday, after at least one weekend of showings, and state the date, time and time zone. Any change is approved by the seller and announced to every buyer’s agent at the same time.
Backup offers are accepted only in writing with this brokerage’s backup addendum, and backup buyers are told their position and kept informed. A backup is never used to pressure the primary buyer.
For the rules behind them, see escalation clause rules by state, dual agency and multiple offers by state and our guide to backup offers.
Training and acknowledgment
A policy nobody has read protects nobody. Three habits make it real:
- Sign on day one. Every agent reads the policy and signs an acknowledgment when they join, and again whenever it changes. The template includes the acknowledgment.
- Train once a year. Walk through the policy at a sales meeting with real scenarios from your office. Our multiple-offer training deck is built for that meeting.
- Review the files. Spot-check a few multiple-offer transaction files each quarter against the records section. Problems show up in files long before they show up in complaints.
Record retention
State license law sets how long a brokerage must keep transaction records, often three to five years, and some states require longer for certain records. Your policy should point to your state’s rule and say where multiple-offer records live: in the transaction file, not in an agent’s personal email. Include the offers that weren’t accepted; they’re the evidence that every buyer was treated the same way.
Handling a complaint with the policy
When a buyer’s agent or a buyer complains about how offers were handled, the policy tells you where to look and what to ask:
- Pull the file before talking to anyone: the seller’s instructions, every notice sent, every offer with its time, the comparison and the seller’s decision.
- Compare it to the policy, section by section. Most complaints turn on one of the four: something disclosed, someone not notified, an offer not presented, or no record.
- Talk to the agent after you’ve read the file, not before.
- Respond in writing, briefly and factually, and keep the response in the file. If the complaint could become a claim, follow your errors-and-omissions policy’s notice requirements.
- Fix the process, not just the case: if the file shows a gap, update the policy or the training.
Download the policy template
The template is a Word document: the four required sections fit on one page, followed by the optional sections and an agent acknowledgment to sign. Edit it for your brokerage and state.
Download the policy template (.docx)
How platforms standardize this
Most of this policy is about doing the same thing every time: one notice to everyone, the same information at the same moment, every offer presented, every step recorded. That’s exactly what software does well. In an offer round, the seller’s consent is signed online, every buyer sees the same information at once, every offer is signed and timestamped, and the report at the end is the file. The policy still matters; the platform makes following it the easy path.
Questions
What should a brokerage multiple-offer policy include?
Four things: what agents may disclose and when, how buyer’s agents are notified, how offers are presented to sellers, and what records are kept. Optional sections cover escalation clauses, in-house offers, buyer letters and backups.
Does a written policy reduce complaints?
It gives agents a process to follow under pressure and gives the broker a documented record when a complaint comes in, which is what most complaints turn on.
How often should a multiple-offer policy be updated?
Review it once a year, and whenever your state changes its disclosure rules or your brokerage changes forms or procedures. Have agents sign the updated version.
Who should write the policy?
The managing broker, using model language like this as a starting point, with a review by the brokerage’s attorney to fit state law. Ask a few experienced agents to read the draft; they’ll spot what won’t work in practice.
Does a written policy apply to agents who aren’t REALTORS®?
Yes. It’s a brokerage policy, so it applies to every agent of the brokerage, whether or not they’re NAR members.
Does a written policy replace state law or the Code of Ethics?
No. It supplements them. The policy should say so, and where state law is stricter, state law controls.
Should agents sign the policy?
Yes. A signed acknowledgment at onboarding, and again when the policy changes, shows each agent was told the rules.
General information, not legal advice. Confirm with your broker or your state real estate commission.