Real Estate Broker Guidelines

  1. All items on Registration Form must be completed and returned no later than  5:00 PM two days before date of auction.
  2. Registration Form must be signed by Broker, Agent and Prospect.
  3. No Broker will be recognized on as prospect who has previously contacted our office.
  4. The Broker/Agent must view properties with Prospective Buyer/Bidder, attend and register at the auction with Prospective Buyer/Bidder, and in the event Prospective Buyer/Bidder is the High Bidder, Broker/Agent must sign Purchase Agreement. No commission will be paid if Purchase Agreement is not signed by Broker/Agent.
  5. No commission will be paid to any broker or agent that is participating in the purchase of property as a principal. An affidavit may be required as proof that the licensed agent is serving only as an agent and not as a principal. Registration of Brokers by other Brokers will not be accepted.
  6. Commissions will be paid only after Bonnette Auction & Realty Co. has been paid in full
  7. There will be No Exceptions to these rules and No Oral Registrations will be accepted.
  8. Registration of Agents or Brokers by other Agents or Brokers will not be accepted.
  9. A reasonable opening bid is required in order to qualify for commission.
A Co-Brokerage fee will be paid to any properly licensed real estate broker based on the following criteria: Commission 1. Two Percent (2%) commission will be paid on a written opening bid amount per individual tract shown on the Co-Brokerage Form. A one percent (1 %) commission will be paid on the balance remaining between the written Opening bid amount shown on the Co-Brokerage Form and the actual high bid. Or before Buyer's Premium (if applies). The Maximum Co-Brokerage will not exceed three percent (2%) of the high bid. 2. Registrations without pre-bid amounts, or amounts that do not reflect any true value consultation from the Co-Broker will NOT be accepted as a registration and NO Co-Brokerage commissions will be paid. 3. Co-Brokerage fees will be based on the written opening bids by tract or combinations - NOT on aggregate totals. 4. Co-Brokerage fees will only be paid on "High Bid Price" which is the actual high bid on the respective tract(s) at the conclusion of the auction without Buyer's Premium (if applies). In the event my client successfully purchases and closes on property, I will receive a commission fee of 1% of the bid price paid by the seller. Agent is acting as agent for the buyer only. Co-Broker MUST register their client by filling out the Co-Brokerage form COMPLETELY and must Fax, mail or e-mail it to Bonnette Auction Company, LLC. The Broker must register his or her Buyer/Bidder by filling out this form, in full, and must fax or mail it to Bonnette Auction Company, LLC. to be received no later than 48 hours prior to the auction date. For Saturday, Sunday or Monday auctions, this form must be received in our office, no later than 12:00 Noon on Friday prior to the auction date. NO ORAL REGISTRATIONS ARE ALLOWED. 1. Co-Broker must register & attend the auction with their registered client. Co-Broker shall represent their registered client; Bonnette Auction Company, LLC. represents the Seller Only. 2. Co-Broker must show property to their client and as their representative will provide client with any necessary due diligence. 3. No Commissions will be paid to Co-Broker, if Co-Broker, its family member or firm is a buyer of any of the auction property. Co-Broker shall give an affidavit to this effect, if requested. 4. Co-Broker CAN NOT successfully register any person or entity that has previously contacted or has been personally contacted by Bonnette Auction Company, LLC. in regards to this particular auction. 5. Co-Broker will ONLY be paid upon successful closing at time of closing and it will be disbursed by the closing agent.