- Auctions expose the property to a broad section of the market place and generate a list of ready, qualified buyers.
- Realtors potentially can see more sales with the auction method, instead of just List &Wait.
- You have the assurance that property will be sold at true market value.
- Property is sold within a relatively short period of time. Consequently, Realtors can give their clients a guaranteed day of sale and a quick closing.
- Auctions can bring people in to look at your other listings, not just the auction listing.
- Successful auctions result in referrals and return business for you the agent/broker.
- Auctions are simply NOW events, NOT fire sales or distress sales, and generate excitement and interest in the property.
- There is nothing like an Auction Event to bring exposure to the property, and buyers with a sense of urgency to act.
- Never lose another sale to contingencies. Auction buyers are pre-qualified and the high bidder’s deposit is non-refundable.
- Realtors also have the opportunity to pre-register a buyer to bring to the auction event and be compensated at closing.
Any broker actively licensed in the state of California who properly registers the successful high bidder will be paid a commission at settlement. Registration must be on a Auction City Broker Participation Application form and contain the name, address and signature of agent and prospect as well a Broker’s license number and Federal Tax ID number. The form must be received in the office of Auction City at least 48 hours prior to the auction date. If prospect attends preview, agent must attend with prospect. Additionally, agent must attend sale and co-register with prospect on auction day. Only the first broker to register the high bidder will be paid a commission. Agents acting as principals, on behalf of licensed real estate agents, on behalf of family members, on behalf of entities in which they hold an ownership interest or who represent prospects who have had prior contact with seller or auction company are not eligible. Only one registered bidder per agent.