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Below is our standard Broker Registration Form for real estate auctions. For broker compensation to be paid, forms must be submitted before the client makes a bid. The advertised broker co-op commission is expressed as a percentage of the Hammer Price (the high bid), not the final purchase price, and assumes no contribution to the seller is necessary. If a contribution is required, broker compensation will be affected because the relevant figure then becomes the collected Buyer's Premium. This is illustrated below.
| Advertised Broker Co-Op |
% of Collected Buyer's Premium |
| 1.5% |
15% |
| 2% |
20% |
| 2.5% |
25% |
| 3% |
30% |
| 3.5% |
35% |
Sample broker co-op calculations:
Scenario #1 (no contribution to the seller)
Buyer's Premium: 10%
Advertised Broker co-op: 2.5%
Hammer Price: $300,000 (high bid exceeds seller's Reserve, no contribution necessary)
Final Purchase Price: $330,000
2.5% x $300,000 = $7,500 broker co-op
Scenario #2 (contribution to the seller)
Buyer's Premium: 10%
Advertised Broker co-op: 2.5%
High bid: $300,000 (bid fails to exceed seller's Reserve)
TRAC contributes $5,000 of $30,000 to the seller to make the sale -- this affects the Collected Buyer's Premium
Collected Buyer's Premium: $25,000
Final Purchase Price: $330,000
25% x $25,000 = $6,250 broker co-op
If there are any questions, please ask them before a bid is placed.
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