General Overview of Process and Responsibilities

HOW IT WORKS

An agreement is signed between International Realty Auction Network, LLC and the participating Broker, outlining compensation to all parties as well as expectations going forward. On assigned listings, immediate introductions are made to our seller/client. On referral listings and on those you plan to market through our company, similar introductions are made.

As the REALTOR ®, you become the "eyes and ears" of the buyer to evaluate a property in your local area. You will input the property information completely, following a template similar to the one you use for your MLS. You will attach key documents in PDF format to create a discovery package for the buyer. This will greatly reduce the due diligence time for the buyer. This package will include appraisals, CMA's, MLS printout specific to your property type, BPO's, survey, inspection reports, preliminary title search, photos, video tours, seller's disclosures (if applicable) and tax information. Offering this information in advance assures a smooth and timely closing and very satisfied clients. Only when the discovery package is complete can the property be scheduled for auction. For corporate clients, lenders and developers, we often collect this information and notify you.

Whenever possible, an absolute auction is preferred, requiring no reserve. This brings more buyers and often increases the final sales price accordingly. Where there is a reserve minimum required by the seller, transactions may still occur through negotiations once a bid has been placed.