HOW CAN A REAL ESTATE AUCTION BENEFIT REAL ESTATE BROKERS?
The auction process gives O.A.C.I.Q. licensed real estate brokers the opportunity to earn a commission. This commission will be determined based on the broker's participation level in the auction process.
• Brokers Representing Sellers: Licensed real estate brokers are eligible to earn a percentage of the selling price for offering their clients the opportunity to auction their property through Immobiliera Corporation. However there are some restrictions based on the level of their participation in the selling of their clients' properties through the auction process. For additional information do not hesitate to contact us.
• Brokers representing Buyers: Licensed real estate brokers representing their registered buyer client(s) must meet some criteria to be eligible to earn a commission.
The broker must visit the property with their client(s) at the time set.
To protect the buyers' broker representative, a registration form will need to be filled out when they visit the property and some vital information on your client(s) will be gathered along with precise information such as the broker's name, address, phone number, valid licence number and broker real estate agency. This registration form will have to be signed by all parties and remitted to the Immobiliera Corporation representative.
Broker(s) must attend the auction day with their client(s).
The commission will be payable to the broker as per O.A.C.I.Q. norms, following the signature of the act of sale by their client(s).
According to the code of ethics, brokers must disclose in writing and without delay on the registration form their direct or indirect intention to purchase the property for their personal interest. In such case no commission will be payable to them.
Furthermore, brokers must recognize, as per the code of ethics, that all visiting clients and auction participants other than their own clients belong to Immobiliera Corporation and agree not to solicit, nor hand out their business card to those clients.