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BUYER BROKER/AGENT PROGRAM

Real Estate Brokers/Agents throughout the United States will enjoy a profitable partnership with ProStar Auctions.

The auction process gives the licensed Broker/Agent, who registers a client, the opportunity to earn up to a 30% net commission of ProStar Auctions Buyer's Premium which typically equates to 3% of the high bid price. The client must be the high bidder, abide by the Terms and Conditions of Sale, and successfully close on the property.

Becoming a Buyer's Broker/Agent and collecting commissions, takes just four simple steps:

1. Properly register the client 48 hours prior to auction day.

The Real Estate Broker/Agent must fully complete and submit the Buyer Broker Registration Form, online at www.ProStarAuctions.com at least 48 hours prior to auction day to register prospective buyers. Submit the form online, or hardcopy to the ProStar Auction's office located at 101 West Crossings Drive Suite 200 Fax # 573-365-7273, allowing time for delivery to meet the 48 hour deadline.

All registrations accepted will be acknowledged via email. Print your completed "Buyer Broker Registration Form" and bring to the Auction for registration verification purposes.

The Buyer Broker/Agent's client must prevail during the auction with the high bid, and pay and close on the property as outlined in the Terms and Conditions of Sale. Commissions are based on the net Buyer's Premium earned by ProStar Auctions.

BROKER/AGENT REGISTRATION WILL NOT BE PERMITTED ON THE DAY OF THE AUCTION AND NO ORAL REGISTRATIONS WILL BE ACCEPTED.

2. Inspect the property with the client prior to the auction.

A real estate auction is the sale of real property in "As-Is" condition for fair market value, using a competitive bidding process. "As-Is" means the properties are selling without warranties as to the condition and/or fitness of the properties for a particular use. Buyers are solely responsible for examining and evaluating the properties. Ultimately, the Broker/Agent must inspect the property with the prospective buyer and perform due diligence prior to bidding. All Properties will be selling free and clear of all liens with good marketable title.

3. Review all disclosures and auction Terms and Conditions of Sale with the client.

You must review the Real Estate Purchase Agreement (earnest money contract), amendments, disclosures, title commitments, etc. with your client. All documentation will be set by the seller and cannot and will not be altered, amended or modified by Broker/Agent, Buyer, or ProStar Auctions. You will be required to sign the Bidder Acknowledgement, Deposit Receipt, and Real Estate Purchase Agreement along with your client.

4. Attend the auction on the day of the sale and register with ProStar Auctions.

Please allow yourself ample time to register at the auction site on auction day.

You should bring to Auction Registration:

  • Your pre-registered client
  • Copy of your submitted Buyer Broker Registration Form
  • Completed Broker/Agent Participation Agreement
  • A copy of your valid real estate license for the state in which the property is located
  • It is recommended that you secure from your client a pre-auction opening bid and provide that to ProStar Auctions in advance of the start of the auction.

You will be required to accompany your client through the entire bidding and contracting process. If you plan to attend multiple auctions, a Buyer Broker Registration Form should be submitted and printed for all clients at each auction you plan to attend.

If a Broker has not met all of these requirements, no commission will be paid to the Broker, even if the Broker's client purchases a property. Buyer Broker participation is not approved or authorized for online bidding and no commission will be paid to Buyer Broker. There are no exceptions to the Buyer Broker Program rules.