Who has the authority to withdraw an offer before it is accepted?

The offeror has the authority to withdraw an offer before it is accepted as they are the party who initiated the offer in the first place. This means that until the offer is accepted by the offeree, the offeror maintains control over the terms of the offer, including the right to revoke it.

It is important to understand that once the offeree accepts the offer, a binding contract is created, and the offeror cannot withdraw the offer at that point without facing potential legal consequences. The roles of the real estate agent and the broker are primarily to facilitate the transaction and represent either the buyer or seller; they do not hold the authority to withdraw an offer on behalf of either party unless expressly authorized. Thus, the ability to retract an offer is retained solely by the offeror until acceptance occurs.