Increasingly, real estate agents are discovering the benefits of real estate auctions. They are realizing that auctions promote activity in an industry that thrives on activity. Agents can get involved in auctions themselves. If an agent brings a buyer to an auction, and that buyer purchases property, the agent can receive a commission. To ascertain the amount and structure of any commissions to be offered, refer to the particular terms and conditions of the auction contract. This should be previewed prior to buyer viewing the property.
In Greater Cincinnati area, the number of homes being auction off are increasing do to the increasing number of foreclosures. Take time to learn about auctions, be prepared to offer clients the benefits of using a agent in purchase of properties at auction, before they show up at one.
Other reasons:
Offers clients and customers new selling and purchasing options.
Increases market share and revenue - new business opportunities are added.
Enhances company's image.
Develops your own market niche - able to offer new products and services other agents aren't providing.
Auctions appeal to people - it brings them in to look at all the listings you hold, not just the auction listing.
Auctions cause referral and return business.
Builds rapport with auction firms.
Agents don't have to be auctioneers to earn commissions -
Earn referral fees as referring agent/broker
Work as cooperating agent/broker
Work as listing agent/broker.
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