Broker/Agent Cooperation – Foreclosing Auctions, Housing Properties, Condos Repos, Home Auction

English | Español | United Kingdom

Home

Online Bidding

Broker/Agent Participation Registration

Print This Form

We invite real estate broker and agent participation. A one percent (1%) cooperating broker commission, based on the winning bid amount, will be paid to Brokers/Agents (i) who have duly registered as a “Registered Broker/Agent” on-line at www.auction.com at least twenty-four (24) hours prior to the start of the Auction, and, (ii), who have been identified by their client on the bidder online registration profile; and (iii) for live auctions, who personally check in on auction day with their client, and (iv) whose client(s) successfully purchase the Property and close the transaction. Please see the website for specific co-operating broker commission amounts related to specific Properties. THERE WILL BE NO BROKER/AGENT REGISTRATION PERMITTED ON THE DAY THE AUCTION BEGINS. Terms and conditions for the payment of a commission on Commercial property transactions shall be governed by the terms of the individual purchase agreements and the terms of the Online Terms and Conditions – Commercial.

To qualify for a commission and become a Registered Broker/Agent, you must:

1. Fully complete the Broker/Agent Participation Form on-line at www.auction.com and bring a copy of it (printed from the website) to the Auction along with a copy of your valid real estate license for the Live Auction event. You are required to personally check in at the broker/agent registration desk prior to the start of the live Auction. Your client must accompany you to check in at the Broker/Agent check in table. If you are an Agent, you must also provide a letter, signed by your Broker on company letterhead, confirming your attendance at the Auction with your client which sets forth commission payment information including broker license number, name and tax identification number. Prior to closing, you will be required to provide the escrow/closing agent with an IRS Form W-9 or electronically complete an IRS Form W-9 in order to receive a commission. This W-9 must be completed by your Broker as payment can only be made through the Broker who holds your license. Be prepared and bring it with you on Auction day to provide when your client is the winning bidder. You may be required to provide a copy of your Broker/Agent Participation Form to the escrow/closing agent prior to closing;

2. For online bidding clients, you must complete the Broker/Agent Participation Form online at www.auction.com and you must ensure that when your client registers, he or she includes your information as part of the registration identifying you as the broker/agent. You will be required to complete the necessary electronic signatures as part of the purchase transaction within the time frames required. You must provide a copy of your Broker/Agent Participation Form to the escrow/closing agent prior to closing. You will be required to provide the escrow/closing agent with an IRS Form W-9 or electronically complete an IRS Form W-9 in order to receive a commission. This W-9 must be completed by your broker as payment can only be made through the broker who holds your license;

3. Inspect each Property with your client;

4. Identify yourself, remain with your client, and execute all necessary documentation during the entire Auction and post-Auction process; and

5. Be present at the Live Auction with your client. You must sign in on each day of the Auction and identify your client at that time. Registered Broker/Agent must accompany and remain with your client throughout the entire bidding and purchase process at the Live Auction.

6. Participating Brokers/Agents may be required to sign the purchase documentation, either at the live auction or by electronic means, along with their client.. Any Registered Broker/Agent who fails to sign the purchase documentation at the Auction or within the time prescribed shall not be entitled to any commission. Commissions will be paid upon closing. No commission will be paid to a Registered Broker/Agent acting as a principal in the purchase of any Property. THERE ARE NO EXCEPTIONS TO THE BROKER/AGENT PARTICIPATION RULES.

BELOW IS A SUBSTITUTE W-9 WHICH IS REQUIRED TO BE COMPLETED BY THE BROKER UNDER WHOM YOU ARE LICENSED AS SET FORTH IN THESE TERMS AND CONDITIONS. AS A REAL ESTATE LICENSEE, COMMISSIONS CAN ONLY BE PAID TO A LICENSED REAL ESTATE BROKER AND NOT DIRECTLY TO THE AGENT. PRIOR TO THE AUTHORIZATION OF PAYMENT OF ANY COMMISSION, A COMPLETED AND SIGNED SUBSTITUTE W-9 IS REQUIRED TO BE PROVIDED TO THE ESCROW/CLOSING AGENT. PLEASE DOWNLOAD THE SUBSTITUTE FORM W-9 BELOW AND BRING WITH YOU ON AUCTION DAY ALONG WITH THE LETTER FROM YOUR BROKER TO PROVIDE TO THE ESCROW/CLOSING AGENT IN THE EVENT YOUR CLIENT IS A SUCCESSFUL BIDDER. ALTHOUGH CORPORATIONS ARE EXEMPT (EXCEPT ATTORNEYS AND LAW FIRMS), A COMPLETED AND EXECUTED SUBSTITUTE W-9 IS STILL REQUIRED FOR OUR RECORDS. NO COMMISSIONS WILL BE PAID WITHOUT RECEIPT OF THIS COMPLETED FORM.

To Download the SUBSTITUTE W-9, please Click Here.

THERE WILL BE NO EXCEPTIONS TO THE ABOVE REGISTRATION PROCEDURE

Edit My Personal Info

First Name: *

Middle Name:

Last Name: *

Client Company:

Country:*

Brokerage Name: *

Address: *

City: *

Zip/Postal Code: *

Office: *

Cell: *

Fax:

Email Address: *

Please choose the auction event you would like to attend: *

Note: You may register for multiple venues in an event at once.

Broker's License Number: *

Client's First Name: *	Client's Last Name: *
		Click to Add More

I have read, understood, acknowledge and agree to the Auction Terms and Conditions regarding the Broker/Agent Participation Program. I also understand this registration pertains ONLY to the auction for which I am registering as a Broker/Agent with my client and that I will have to re-register for any other auction or any future auctions.

Remember... you must bring a copy of this form with you to the AUCTION and your Broker’s completed W-9 form in order to ensure payment!

For Property or Auction Procedure Questions CALL 7 DAYS 8AM - 8PM 800-793-6107

For Financing or Pre-Qualifacation Information CALL 7 DAYS 9AM - 8PM 800-648-5799

*REDC is providing the information on this website for general guidance only. Any information provided by or on behalf of the Sellers with respect to the Properties, including without limitation, all information in the Disclosures and the Brochure was obtained from a variety of sources and neither the REDC, the Sellers or Seller’s Broker(s) have made any independent investigation or verification of such information and make no representations as to the accuracy or completeness of such information. The information on this site does not constitute and should not be construed as the providing of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action on this information, you should consult a qualified professional adviser to whom you have provided all of the facts applicable to your particular situation or question. None of the tax information on this website is intended to be used nor can it be used by any taxpayer, for the purpose of avoiding penalties that may be imposed on the taxpayer. The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.

Or visit us ONLINE at www.auction.com

My Saved Listings