REALTORS - How To Co’op With Auctioneers
Tennessee Auctioneer Mike Walker co-operates with traditional real estate professionals and auctioneers locally and nationally. As a member of the Certified Auctioneer's Institute, the most revered network of professional auctioneers, Mike provides clients services and resources on a national level. Opportunities for REALTORS to Get Involved In Auctions is great for clients because they can have a professional guide them step by step threw the process as well as show them potential benefits that on your own you might not know about during the buying and selling process at auction.
There are 3 primary ways to get involved in real estate auctions.
- Bring the Buyer – Acting as a Cooperative Selling Agent/Broker
- Refer a Seller – Agents/Brokers may refer a Seller to the Auctioneer
- Co-Broker Listing – Agent/Broker works with Auctioneer to Sell at Auction
Advantages of working with an auctioneer
- Bring the Buyer – Acting as a Cooperative Selling Agent/Broker. A cooperating Buyer's Agent may receive a portion of the commission for registering and representing a Buyer at auction. The Selling Agent will fill out a Broker Cooperation Form, which outlines the terms and conditions for getting paid.
- Refer a Seller – Agents/Brokers may refer a Seller to the Auctioneer. A real estate agent or broker can refer a seller to an auction company and receive a referral fee. This is a hands-off approach that requires a minimal time investment and may be facilitated using a Referral Form that outlines the compensation. The Auctioneer will provide 100% service to the Seller.
- Co-Broker with Auctioneer on an Auction Listing. A listing agent may co-list the real estate with the Auction company and will continue to represent the seller throughout the sale and at the closing. The cooperating listing broker will manages many of the real estate functions and share in the commission based on the level of involvement.