Welcome Real Estate Agents
Auction Option for Real Estate
Agents
Capture a Share of the Growing Auction Market and Increase Your Revenue!
- Add Auctions to your business model
- Auction your listings - your brand, your name
- Let our expert staff assist you with the auctions (including full training and support)
- Listing Agents - keep Your full commission, as in your listing agreement
- Earn commission from both sellers and buyers that you represent
Note: If you are not qualified to be our RealtyPal Partner Agent, you can still benefit from our RealtyPal Auction Program for Real Estate Agents. RealtyPal Auction Option Program is available for all real estate agents.
Why Should Real Estate Agents and Brokers Offer Auction Services?
RealtyPal specialize in developing auction alliances with real estate agents and brokers across the country. We are your partner in providing professional Real Estate Auction services to your clients. We help you expand your traditional full service offerings by incorporating the Auction method of accelerated marketing and sale into your business. Auctions can greatly expand your market, enhance your professionalism and increase your revenue. The auction process will help you obtain new clients and will offer additional services to your existing clients.
Join our growing network of participating real estate agents and brokers who earn great commissions by providing our accelerated Auction Option to sellers or by representing buyers at auction. Auction is truly a win-win-win proposition for everyone involved: sellers, buyers and real estate agents!
How Does Auction Benefit Real Estate Agents?
- Generates list of ready, qualified buyers
- Offer clients and customers new selling and purchasing options
- Energize your listings, offer new marketing approach
- Property can be sold in a shorter period of time, allowing you to earn commissions faster
- Reduce your advertising costs
- Increase revenue and market share - new business opportunities are added
- Increase your profits
- Develop your own market niche
- Enhance your company's image - offer new products and services other agents not providing
- Auction process generates buyer urgency and ensures that home is sold quickly
- Assurance that the property will be sold at true market value
- Property can be sold within a relatively short period of time
- Auction method exposes the property to many potential buyers
- Avoid prolonged negotiations between buyers and sellers
- Auctions bring people in to look at all your listings, not just the auction listing
- Auctions result in referrals and return business
- Learn new business techniques and skills
How It Works
You do not need to change your real estate company affiliation. Agents don't have to be auctioneers to earn commissions. We teach you how to properly get involved in real estate auctions and how to incorporate the auction method of marketing and sale into your real estate business. You can partner with RealtyPal and:
- Work as a cooperating/Buyer's Agent
- Work as Listing Agent/Broker
- Earn referral fees as Referring Agent/Broker
Agents Can Get Involved in Real Estate Auctions in Three Ways:
- Cooperating/Buyer's Agent -
Register a buyer for the auction
Earn a generous commission at settlement by registering the buyer who becomes the successful high bidder at RealtyPal real estate auction.*
*Commissions are paid to the real estate brokerage firm of real estate agents and brokers. Agent must be licensed in the state in which RealtyPal auction is conducted. RealtyPal Buyer Broker Participation Form must be completed and received by RealtyPal via FAX at least 24 hours prior to auction. The Buyer's Agent must show the property to the buyer prior to the auction event, attend the auction sale with the buyer and assist the buyer with the real estate transaction due diligence and the closing procedures. Please note that real estate agent's requirements and commissions are subject to the terms and conditions for each specific auction.
- Listing Agent/Broker
- Partner with RealtyPal to sell your listings FASTER with our Auction
Option**
Sell your listings faster and at true market value by partnering with RealtyPal and incorporating our Auction method of marketing and sale into your traditional real estate methods. We don't compete and we offer full cooperation with the listing agents. We don't interfere with the compensation arrangements between the listing agents and their clients - keep your full listing commission, as in your listing agreement. We typically earn our compensation via the Buyer's Premium fees paid directly by the Buyer. Our non-exclusive auction listing agreement allows you to market and sell the property prior to the auction. Please contact us for more information about our services and our auction fees.
** Real Estate agents must be licensed in the state in which auction is conducted. The Listing Agreement must contain the RealtyPal Auction amendment. Listing agent provides and maintains the real estate signage and lock box at the property, responsible for showing the property by appointments, conducting open houses, and assisting bidders with the pre-qualification process. Listing broker must attend the auction sale, and assist the seller throughout the entire real estate transaction and the closing procedures.
- Referral Agent/Broker -
Agents/Brokers refer clients to RealtyPal
A real estate agent/broker who does not want to be actively involved in the listing/auction process can refer a seller or buyer to RealtyPal and receive a referral fee. Such referrals shall be made on a case-by-case basis, and RealtyPal or it's Partner Agents will handle the entire transaction process. The referring agent/broker must originate the initial contact between the seller or buyer and RealtyPal and may also be instrumental in convincing the seller of the merits of auction. The referral fee, terms and conditions must be negotiated between the referring agent/broker and RealtyPal in advance.
What Properties are Suited for Auction?
Most types of real estate properties are salable by auction: Single Family, Condos and Townhomes, Multi-Family, Building Lots and Vacant Land, Historical Properties, Luxury Homes and Estates, Ranches and Farms, Equestrian Properties, Unique Properties, Commercial, Industrial, Agricultural - you name it!
Not all properties, however, maybe suited for auction. By working closely with our participating real estate agent partners and carefully analyzing the market, property listing and the seller's requirements, we determine if the listing is a good candidate for our Sale-By-Auction method.
What Properties are Good Auction Candidates?
- Properties that need to be sold quickly
- Difficult to price properties
- Luxury homes
- Listings that are about to expire
- Expired listings
- Inactive property listings that need a new marketing approach
- Estate liquidation
- Surplus properties
- Financially troubled properties
- Hard to sell properties (i.e. land, commercial, industrial)
- Seller needs immediate cash
- Seller has a partnership or marriage break-up
- Seller has been transferred or moving out of the state
- Seller is retiring
- Seller had already purchased another home and needs to quickly sell the existing home
- Seller has a contract on another home, but it’s “Subject to the sale of existing property”
- 1031 Exchanges situations (exchange property is identified, but the current property needs to be sold now)
- Seller that knows that auction will bring a fair market price
- Seller has high carrying costs on the property
Be creative! There are many examples of how we can work together to help you and your client.
Why Partner with RealtyPal to Sell Your Listings By Auction?
- Why Real Estate Auctions?
In the past, real estate auctions were usually associated with the sale of properties for foreclosure, tax or estate purposes. However, now the role of real estate auctions in the real estate market has expanded, giving REALTORS® a greater opportunity to participate in the auction process. A growing number of REALTORS® are finding ways to partner with the auction companies to provide exciting, new options for their clients. Real estate auctions are an innovative and effective marketing and sale tool, which can be beneficial and profitable to sellers, buyers and REALTORS®.
- Listing Agents Compensation - How Do I Get Paid?
We do not interfere with the compensation arrangements between the listing agent and their clients. Listing agents keep their full listing commission, as negotiated in their listing agreements with their sellers. RealtyPal typically earns its compensation via the Buyer's Premium fees paid directly by the buyer. Our non-exclusive auction listing agreement also allows the listing agents to market and sell their listings prior to the auction. The Auction Agreement Addendum allows RealtyPal prepare and conduct the auction sale for the property, it defines the auction specific information, as well as RealtyPal's auction fee arrangement. Many Listing Agents can also earn bigger commissions from a double-sided transaction (listing and selling agent’s commission) if the buyer at the auction of your listing is not represented by another real estate agent. Please contact RealtyPal for more information about our services and our auction fees.
- Do you compete with Partner Agents?
Real Estate agents and brokers are an integral part of our auction business. As such, we never compete with our real estate agent partners and we fully cooperate with them, whether you represent the seller or buyer. In addition, before and during the auction, all the visitors and potential buyers that inquire about, visit your property listing or come to an auction sale, will receive YOUR direct contact information.
- What about the MLS Listing?
The use of the MLS by REALTORS® in a hybrid listing-auction scenario should be handled with care and display a specific auction verbiage. We work closely with our Listing Agent partners to assist them with proper displaying their listing-auctions in the MLS. In addition, each real estate agent/broker must also independently verify that their MLS listings are displayed in accordance with their local MLS board policies and the NAR Code of Ethics.
- Have a peace of mind
RealtyPal is a knowledgeable, experienced team of licensed real estate brokers and auctioneers, who know their business well. All of us at RealtyPal are committed to the highest level of integrity, excellence and professionalism. We are dedicated to providing top quality real estate auctioneering services and outstanding customer support to our real estate agent partners.
To
request Real Estate Agent's Guide to Auctions
and for more information on our Sale-By-Auction Option for Agents, click here.
To go to Partner Agents page,
click here.