From April 1, 2017, real estate agents are now obligated to inform a seller when they receive an offer from a buyer.
The revision to the Buildings Lots and Buildings Transaction Business Act (the law that governs real estate transactions in Japan) now includes a clause stating that a seller's agent must promptly inform the seller, with whom they have an agency agreement with, when they receive a written offer from a potential buyer. Any special clauses in agency agreements to exclude this obligation will be void. In other words, even if a seller has instructed their agent not to present any offers below a certain amount, the agent will still be legally obligated to inform the seller of any and all offers received.
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