Listing Agent Cooperation / Compensation

Agents… Do you have a listing you would like to sell at Auction?

The King Auction Group offers Cooperation / compensation on the listing side on all of our real estate auctions.  Some firms have implemented “referral programs,” however we offer a “Co-operative team approach,” one where the co-op agent is paid a commission comparable to industry standards (example MLS Co-op). We are one of the few, if not the only, Auction firms in this region who offers fair compensation to agents who bring a listing to our firm to auction.  

Listing Agents…We are here to help… See you at closing!

How The King Auction Group can help:

Hard to Sell: Hard to sell properties are those on which we co-op on most frequently. An infinite number of influences can hinder a property’s desirability. Many, if not all, listing agents have experienced, at one time or another, a listing for which they could not procure an able and willing buyer despite their marketing efforts. In most cases, our unique marketing and the appeal of a public auction will procure buyers for these “hard to sell” properties.

Tired Listings: Tired listings are those which have excessive “days on the market” (DOM). Many of these properties have seen several price reductions or none at all. In most cases these properties, after a short resting period followed by a new and time sensitive marketing campaign, will attract new and previously interested buyers to an auction. The efforts of a well conducted auction will result in excitement and new interest and appeal in that tired listing.

Hard to Value: Often very unique properties will lack comparable sales data. In an effort to not overprice or under price a property, agents will see the clear benefit in the competitive bidding system to determine the market value thus, resulting in a fair market value sale of that hard to value property.

As-is: Many properties may have mechanical or structural issues or perhaps minimal deferred maintenance. Often times sellers don’t have the means to correct these issues and therefore opt to offer their home/property in “as-is” condition. Selling a property in “as-is” condition is an acceptable and enforceable practice in the auction industry. In many cases “as-is” does not have credence in private treaty sales. Many agents prefer to market their “as is” listings at auction. Note: “As is” sales require full disclosure and is not a protective veil from non-disclosure of known defects.

Time is of the Essence: Many agents will have a seller who is relocating or is party to a contingency offer to purchase another property. There can be any number of time sensitive issues which require a speedy sale. When time is of the essence there are few means of sale, as effective as the auction process. Aggressive marketing, directly followed by an auction, takes an average of 45 to 60 days start to finish (closing).

Loss Mitigation: Many property owners have upside-down loan-to-value-ratios due to readily available 100% mortgages, maturing adjustable rate mortgages (ARM) and home equity lines of credit (HELOC). Life circumstances coupled with these types of mortgage situations have sellers wanting to downsize before an inevitable foreclosure process ensues. Many agents will find our assistance valuable in selling these properties in a timely fashion and employing our services in working with the loss mitigation departments of many mortgage companies. Don’t overprice or unjustifiably build equity into these properties. Let us help you determine the properties fair market value at auction.

Loss Mitigation, Pre-foreclosure and REO Sales Agents, please click the Contact Us link or call 757-515-KING (5464) to learn more and discuss compensation rates for our Agent Referral Program.

How we work with Buyer Agents & Transaction Broker’s

Unless otherwise noted we offer Cooperation / compensation on all of our real estate auctions, offering fair compensation to agents who represent and / or work with buyers who desire to purchase an auction property. We feel there should be no compensation difference between the traditional buyer-broker method and the auction sector. The King Auction Group's focus is to conduct successful sales with every effort made to expose our listings to the buying public. We believe it’s in our seller’s best interest to include the real estate brokerage community as well. Professional agents working with good buyers are always welcome at a King Auction Group auction.

Agents interested in participating in an upcoming auction should call our office at 757-515-KING (5464) for more information, or to set up a showing for a property we have scheduled. For your convenience most properties are on MLS or combination lock boxes. If your buyer has genuine interest in the property and would like to attend the auction it is mandatory that you complete a buyer registration form and return it to our office via fax or email no less than 24 hours prior to the auction.