How do I register my buyer for a real estate auction?
Download the broker registration form at the top of this page, fill it in with the property address, and email it to [email protected] at least 24 hours before the auction begins. One form per buyer, per sale.
Do I have to attend the auction?
Yes. You must be present with your client on the night of the sale. An agent who registers but does not attend with their buyer is not eligible.
What happens if I register late?
The signed form has to reach the office by 6:00 PM the day before the sale for your brokerage to be paid the commission. The deadline is firm, so send the form as soon as your buyer decides to attend rather than the day of.
Where do I find the documents for a specific sale?
The terms of sale for each property are listed in its auction catalog. For the seller disclosure or anything else about a specific property, email or call the office. The broker registration form is the same for every sale.
Can I register more than one buyer for the same auction?
Yes, but each buyer needs their own form submitted before the deadline, and you must be present with the buyer who is bidding.
What does my buyer pay on sale day?
The winning bidder pays 10% of the total down on the day of the sale, with the balance due at settlement. A 3% buyer's premium is added to the winning bid, and the winning bid plus the premium is the total purchase price.
What commission is paid to the buyer's agent?
John Carl Auction Company pays a 2% commission to the real estate brokerage that secures the winning bid, unless another percentage is negotiated. It is calculated on the purchase price and paid at settlement. To qualify, the signed broker registration form must reach the office by 6:00 PM the day before the sale, and you must be present at the auction.