CLIENT ASSOCIATION: This form is used to associate you with your client. Your client is required to register for the auction.
CLIENT REGISTRATION: Your client needs to complete the auction platform registration steps and submit their bid indicated on this form.
DO NOT REGISTER AND BID FOR YOUR CLIENT The registered auction bidder is the individual who is legally and financially held responsible for the bid amount and closing on property.
POWER OF ATTORNEY: Should your client want you to register and bid on their behalf we recommend that you consider having your client sign a limited POA granting you the right to do so.
CREDIT CARD/BIDDER DEPOSIT: A valid credit card is required for registration. A $500. Hold is placed on the card. This is not an actual charge. This method is used to verify that each registered bidder is an actual person and not a computer, or fraud attempt. That hold is released typically within 48 hours of the verification.
BROKER COMPENSATION: Commission amount offered is indicated in the auction terms and conditions. Commission is paid on the final sales price minus the buyers premium. Commission is included in the closing statement and paid at closing.
MAX BID: We highly recommend that your clients enter a bid amount at the time of their registration. This method ensures that their bid is accepted and acknowledged. Don’t worry, the system will only bid to their max amount entered not one penny more. This does not limit their bidding. Your client can login and bid at any time during the auction and auction day.
BROKER/AGENTS RESPONSIBILITIES:
All agents must register their clients 24 hours PRIOR to auction using this form. Clients must be registered to bid in the auction 24 hours prior to auction end time. Incomplete broker participation form, or forms not submitted prior to the deadline will not be recognized.
You should notify NeXstep regarding your client prior to their engagement with our team, before they register to bid, or attend open house events.
If your client attends an open house event prior to completing this form, they should sign in and list you as their agent.
Agents should plan to attend any open house or events with their clients and remain actively engaged throughout the process being generally helpful, show the property, and encourage competitive bidding.
Please be aware that if a buyer does not acknowledge they are working with an agent prior to engagement with our team, the agent will be deemed ineligible for compensation.
LEGAL ENTITIES: If a client is a legal entity, the principals must be disclosed.
COMPENSATION: For the Broker/Agent to receive compensation, their client must, be the successful bidder at the auction, and successfully close on the property as stated in the terms and conditions.
CLIENT RELATIONSHIPS: Broker/Agent agrees not to solicit, promote alternative properties, canvas, or interfere with existing NeXstep customer/client relationships while attending the auction, open houses, or any activity regarding this auction.
PROFESSIONAL CONDUCT: Broker/Agent agrees to always conduct themselves in a professional manner in accordance with NAR code of ethics expectations and standards.
CLIENT LIMIT: Broker/Agent may represent only one client during the auction. A client may only register with one Broker/Agent; should multiple broker registrations be received, the earliest completed form will be honored.