Auction Bidder Representation Form
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 Bidder is the successful purchaser for this property, and who actually closes and pays the total Contract Price and their 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 Auction Bidder Representation Form is received by the auction company no later than 6 am Eastern on the day of 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 their Bidder with all consideration paid in full;
7. Registered real estate agent must attend all auction events with a live bidding component regardless if their bidder is bidding live on site or off site bidding on line and adhere to all terms. No oral registration qualifies for commission, and real estate agent must register client using this auction bidder representation form;
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 real estate agent can only represent one buyer at each auction event;
10. Real estate agent agrees that he/she shall hold harmless and indemnify Nicholls Auction Marketing Group, 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 Auction Bidder Representation Acknowledgment.
