In this article, we'll define transparency settings and who determines these settings.
What are transparency settings?
Perhaps you've noticed the following "Transparency Settings" diagram while looking at a property and you're wondering what these settings mean.
Note: The image above illustrates what transparency settings look like if the listing agent decides to turn on all of the transparency options.
The listing agent determines the transparency settings when launching a property. The listing agent will have the option to reveal the following details:
- the offer price
- the ranking of each offer
- unconditional offers (no contingencies)
- if observers are allowed to view the listing (click here to learn more about observers)
- if there is an offer submission deadline and if a countdown to that deadline should appear on the listing
Here's a quick glance at what the listing agent sees when choosing the transparency settings mentioned above:
Let's take a look at an example where only some of the transparency settings are selected by the listing agent.
In the image below, you'll notice 'Show Rank' is checked off on every user role whereas 'Show Price' is only checked off next to the seller. This means the listing agent decided not to reveal the offer price to any buyers, buyer agents, or observers for this particular property.