FACTS: Apparently based on the posting of the property in the MLS, an agent texted the listing agent advising that he had a buyer who would pay the list price for the property ($750,000) in cash and close escrow in 15 days.

ISSUE: Is the text from an agent an offer that the listing agent is obligated to deliver to the seller?           

ANSWER: See Discussion.

DISCUSSION:

Generally, a listing agent is required to disclose all offers to a seller.  See Arizona Administrative Code R4-28-802(B).  However, an offer to purchase real estate must contain all material terms and be signed by the potential buyer.  See Savoca Masonry Co. Inc. v. Homes & Son Const. Co, Inc., 112 Ariz. 392, 542 P.2d 817 (1975); See ARS § 44-101(6).  Here the text does not contain all material terms, nor is it a writing signed by the buyer as required by the statute of frauds.  The text is not an offer that must be delivered to the seller. 

The listing agent may advise the seller of the  text received and/or ask the agent to present a lawful offer on behalf of his buyer-client.