The Big Real Estate Offer Myth That Won’t Go Away

When it comes to real estate in Oklahoma, there’s a widespread belief that purchase offers are automatically confidential. Many agents and consumers assume that an offer’s terms—price, contingencies, financing details—must remain private. But here’s the truth: there is no state statute that mandates offer confidentiality.

No Law Means No Automatic Confidentiality

A common misconception is that if something isn’t openly discussed, it must be protected by law. But in Oklahoma, there is no statute or regulation that requires purchase offers to be kept confidential. Unlike some other states where specific confidentiality laws exist, Oklahoma has no such provision. This means that unless the parties involved—typically the buyer and seller—explicitly agree to confidentiality in writing, there is no obligation for an agent to withhold offer details from other interested parties.

What the Oklahoma Real Estate Commission (OREC) Rules Say

The Oklahoma Real Estate Commission (OREC) requires real estate licensees to act in their clients’ best interests. Under OREC Code Section 858-353, agents must:

• Keep their clients informed throughout the transaction
• Exercise reasonable skill and care when representing them

Nowhere in OREC’s rules does it say that an offer must remain confidential unless there is a separate agreement stating otherwise. However, while the price, contingencies, and financing details may not be confidential, agents must be mindful of what must remain confidential—such as a buyer’s willingness to pay more, accept different terms, or their underlying motivations for making an offer. In fact, not disclosing an offer’s details when doing so could be a failure to properly perform the broker’s duties under Oklahoma’s Broker Relationships Act.

The Role of the Seller in Disclosure

A seller has the right to determine whether offer details should be shared. A listing agent’s job is to advise their client on the pros and cons of disclosure. In many cases, revealing an offer can be a strategic advantage.

For example:

• If a seller has received an offer below asking price, disclosing that number to another interested buyer could create competition and leverage a higher bid.
• If one offer has weak financing or unfavorable contingencies, sharing that information could attract a stronger, more favorable offer.
• When multiple offers are on the table, strategically leveraging one offer’s amount with another buyer could push them to increase their bid, creating a win for the seller and for that buyer as well.

When Offers Are Confidential

Although Oklahoma law does not require offer confidentiality, there are instances where it can be enforced: A Signed Confidentiality Agreement – If a buyer and seller agree in writing that the offer’s terms will not be disclosed, this agreement must be honored.

Why This Matters for Buyers and Sellers

For buyers, it’s important to understand that unless you request a confidentiality agreement, your offer could be disclosed to other buyers. For sellers, this means you should talk to your agent about whether strategic disclosure could help you get a better deal.

The Bottom Line

In Oklahoma, purchase offers are not automatically confidential because no law says they must be. Unless a separate agreement is in place, an offer’s terms can be shared. If you’re buying or selling, make sure your agent understands how to leverage information in a way that benefits you—not just follows industry myths.

Thinking about buying or selling? You need an agent who understands how to use every legal and ethical advantage to get you the best deal. Let’s talk about how I can put my expertise to work for you!