How to Represent a Buyer During an Auction
To become a "Buyer/Broker" and collect referral fees, a few simple steps must be completed. Prior to the auction, the Buyer Broker must contact the designated Coastal Auctions advisor for each property you are representing a Buyer to determine if a referral fee is being offered and the amount of the fee.
To qualify for the referral fee, the real estate agent must:
Be a licensed real estate broker in the state in which the property is located, or if licensed in another state, comply with the licensing laws of the state in which the property is located.
Abide by the National Association of REALTORS® Code of Ethics.
Prior to your client bidding online or at an onsite auction, you must be registered as representing that client. Your client can register you through the online bidding process or at the onsite auction. If at the onsite auction, you must be registered prior to the start of bidding, be present the entire auction and at the time of executing the offer if your client is the highest bidder.
Broker participation amount is determined on a property specific basis. Please be sure to check terms and conditions for each specific property.