BROKER PARTICIPATION POLICY
Pete Richardson Auction Sales will participate with all Real Estate Brokers.
The participation fee is 1/2 of the Buyer's Premium, not to exceed 1% of the purchase price.
The Broker must do at least the following to qualify for the participation fee:
Register the Buyer at least 48 hours prior to the Auction, in writing, by fax or email. Acknowledgement of receipt from Pete Richardson Auction Sales is necessary. Acknowledgement of receipt is not to imply that Pete Richardson Auction Sales agrees to acknowledge the Broker as eligible to receive the participation fee.
The Broker must initiate contact with the auction company. If a Buyer has spoken with the auction company prior to registration, the Broker is not eligible for the Broker fee.
All inquiries concerning this property must come directly from the Broker to Pete Richardson Auction Sales. If a Buyer contacts Pete Richardson Auction Sales directly, the Broker is not eligible for the Broker fee.
The Broker must be with the Buyer every time the Buyer comes to the property and must attend the Auction with the Buyer.
The Broker is not eligible for a Broker's fee if the Buyer is on the Pete Richardson Auction Sales mailing list or if the Buyer is known to Pete Richardson Auction Sales.
The Broker is not eligible for a Broker's fee if the Broker is the Buyer or member of a partnership or LLC that is the Buyer, family member of the Buyer, or if the Buyer is a Real Estate Agent or Broker. The Broker is also not eligible for a Broker's fee if the Buyer is married to or significant other of the Broker or has a business relationship or in a partnership with the Broker concerning the subject property or any other property. Lastly, the Broker is not eligible if the Broker is employed by the Buyer or if the Buyer is employed by the Broker.
Any false statements by the Broker to Pete Richardson Auction Sales will deem the Broker ineligible to receive the participation fee.
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