Realtor Compensation

Auction Property Address

I expressly acknowledge and agree to the following Terms and Conditions: 1. I have read, signed, and agree to be bound by, the Terms and Conditions of Participation for the Auction Sale of the above Property; 2. A commission of 10% of the 10% Buyer's Premium charged or 10% of any negotiated commission will be paid to any properly licensed real estate agent/broker whose Buyer/Bidder is the successful purchaser for this property, and who actually closes and pays the total Contract Price and Closing Costs for this property. It is understood and agreed that the real estate agent's commission structure will be based on the stated terms and conditions of sale; 3. Commission is contingent upon, and will ONLY be paid if Realtor Representation form is received by the auction company no later than 5 pm Eastern on the day before the auction, no exceptions; 4. Real estate agent agrees that Real estate agent will not claim any exceptions to the foregoing procedures; 5. Broker agrees that if the commission is reduced due to negotiations, the commission to the broker shall be 10% of total commission earned; 6. Real estate agent agrees that real estate agent's commission will be due upon closing of the purchase by his Buyer/Bidder with all consideration paid in full; 7. Registered real estate agent must accompany their buyer/bidder to the auction; 8. Real estate agent shall not be entitled to said commission on account of any sale to an entity of which (or any affiliate of which) the real estate agent is a principal, employee, or affiliate, or immediate family member. 9. A registered broker/agent can only represent one buyer at each auction event. 10. Real estate agent agrees that he/she shall hold harmless and indemnify the auction company, including its reasonable attorney’s fees, from any and all claims with regard to such commission. By checking this box, I acknowledge that I have read and understood the Broker Agreement above.