Represent a buyer at auction
Representing a buyer at auction is easy!
- Download and read the complete auction bid package
- Be sure your client is pre-approved for a loan
- Read the auction terms and conditions
- Review bidder registration requirements
- Complete the Broker Registration form that protects your commission
- Run comps on the property
- Factor in the Buyers Premium to the final price your client wants to pay
- Consider hiring a professional inspector if a recent report isn’t available
- Review the sales contract before the auction
- Review all documents provided with the bid package
- Attend the auction preview period or schedule a private showing
- Fax your completed Broker Participation form to the auction company before the deadline
- Discuss a bidding strategy with your client including the top price they can pay factoring in the Buyer Premium
- Show up early on auction day and help your client register
- Encourage them to bid to win!