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In addition to disclosure, NAR needs to address multiple offers. There are agents accepting multiple offers - signed and unsigned, sending them to banks, and letting the bank decide who wins. If the offers are signed; i.e., executed, it appears we need backup offer contingencies for all others - something that is rarely being done. Our company is attempting to treat lender approval as another contingency like inspection or loan approval and then negotiate with the first offeror (with the executed contract) if the bank declines or counters the first offer. If that fails, then we move to offer #2. If multiple offers are received prior to bank submission, then we have the seller select the strongest offer to go to the bank, making others backups if they desire. It seems that all contract principals are being ignored if it is a short sale leaving the agents open to significant liabilities. The E&O carriers should be clamoring for guidance on short sales to avoid inevitable litigation. Sellers who have investment properties or primary homes that are now rented and may be classified as investment present a more difficult challenge. It is in their best interest to continue to receive offers to obtain the highest bid offsetting some of their 1099 exposure. Changing the MLS status to Contingent generally discourages more offers which isn't in the seller's best interest, but not changing the status violates our MLS rules. Our MLS is also challenging remarks that commission is subject to lender approval & will be split equally between listing & selling brokers as a violation of the commission agreement. Anyone who has processed a short sale as a listing agent isn't about to agree to a hit on their side of the commission only - the work is enormous, frustrating, complicated, and carries significant legal liabilities. We are dealing with the financial status and future of our clients. Strong guidance is needed from NAR as most agents are lost in the process and are being encouraged to go forth and make lots of money by the 2 hour short sale guru experts!