Here is the procedure that SCREC and NAR ethics require:

A listing agent always does one of these three things when a buyer’s offer is sent to the listing agent:

1. Properly communicate in writing the seller accepted the buyer’s offer.

2. Properly communicate in writing the seller counter offers the buyer’s offer.

3. Send a SCR314 offer rejection form. Perhaps, the seller also solicits highest and best terms offers in a multiple offer scenario.

When a listing agent makes a written request upon sending a counter offer to the buyer brokerage, the buyer agent should always to one of these three things:

1. Properly communicate in writing the buyer accepted the seller’s offer.

2. Properly communicate in writing that the buyer counter offers the seller’s offer (aka counter offer).

3. Send a writing communicating the buyer rejected the seller’s offer (aka counter offer).

Standard of Practice 1-7 When acting as listing brokers, REALTORS® shall continue to submit to the seller/landlord all offers and counter-offers until closing or execution of a lease unless the seller/landlord has waived this obligation in writing. Upon the written request of a cooperating broker who submits an offer to the listing broker, the listing broker shall provide, as soon as practical, a written affirmation to the cooperating broker stating that the offer has been submitted to the seller/landlord, or a written notification that the seller/landlord has waived the obligation to have the offer presented. REALTORS® shall not be obligated to continue to market the property after an offer has been accepted by the seller/landlord. REALTORS® shall recommend that sellers/ landlords obtain the advice of legal counsel prior to acceptance of a subsequent offer except where the acceptance is contingent on the termination of the pre-existing purchase contract or lease. (Amended 1/20) •

Standard of Practice 1-8 REALTORS®, acting as agents or brokers of buyers/tenants, shall submit to buyers/tenants all offers and counter-offers until acceptance but have no obligation to continue to show properties to their clients after an offer has been accepted unless otherwise agreed in writing. Upon the written request of the listing broker who submits a counter-offer to the buyer’s/tenant’s broker, the buyer’s/tenant’s broker shall provide, as soon as practical, a written affirmation to the listing broker stating that the counteroffer has been submitted to the buyers/tenants, or a written notification that the buyers/tenants have waived the obligation to have the counter-offer presented. REALTORS®, acting as agents or brokers of buyers/tenants, shall recommend that buyers/tenants obtain the advice of legal counsel if there is a question as to whether a pre-existing contract has been terminated. (Adopted 1/93, Amended 1/22) •

"If an offer is rejected without counter, an offer rejection form, promulgated by the Commission, signed by the licensee affirming presentation of the offer must be provided to the offeror by the licensee, whether the agent of the buyer, the seller, or if acting as a transaction broker."

In multiple offers and highest and best solicitation, the listing agent may have to complete dozens of SCR314’s. LLR SCREC requires this. It is a workload.

Posted by: Byron King on 06/08/22 (This information is only accurate as of 06/08/22. You must contact SCR for updates and changes to this information after 06/08/22 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org or email byron at screaltors.org)

This information is not legal advice. This information is intended only to provide general information and may not be relied upon as specific legal guidance. Legal counsel should always be consulted before acting in reliance on this information.