S. High Street Auction Broker Compensation Form

Broker Compensation Form: S. High Street Auction - April 12, 2019

1% commission will be paid to a qualified licensed real estate agent whose registered buyer's offer is accepted by the seller and closes on the property, provided the agent is not prohibited by law from being paid such commission. To qualify for a commission, the agent must first register his/her prospect on this registration form. Agents must register their client at least 24 hours prior to the auction. If for some reason this form cannot be completed online, agents can request a paper copy and may email it to megan@cottonwoodauctions.com or fax it to (540) 437-9501. Agents only receive commission when they represent a client, not if they themselves are the client. Agent understands that the Seller of the auction property reserves the right to accept pre-auction offers from any prospective buyer. A pre-auction sale has the same stipulations as an auction. 

No late registrations will be accepted. Commissions will be paid only after closing and after Cottonwood Auctions, LLC has been paid in full. Agents are not required to attend the closing. Agents must have client's permission to register him/her for the auction. Agents may not register people who are not actually their clients. Agent must accompany their buyer/bidder to the property at some point during the auction marketing period and perform duties for their buyer/bidder in order to fully represent them. If an agent has not met all of these requirements, no commission will be paid to the cooperating agent, even if the agent's client purchases the property. No oral registrations will be accepted. Under no circumstances whatsoever will any commission be paid if the sale does not close for any reason. In the event that two agents register the same buyer, the buyer will be contacted to determine representation. 

The licensed real estate agent above acknowledges that he/she represents the buyer, not the seller, in the above referenced auction and agrees to indemnify and hold harmless the seller, and Cottonwood Auctions, LLC from any claims, costs and expenses, including attorney's fees, arising out of any acts performed or representations made by them in connection with the participation at the auction or the purchase and sale of the above referenced property purchased at the auction or otherwise.

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