Frequently Asked Questions by Realtors
Details about the RealAssist™ Program
What are my responsibilities in the RealAssist™ process?
First, we advise you to check to see if anyone is living on the premises. If so, please contact us and let us know. After that, you can begin to take property photos and market the property via the MLS real estate portal or other marketing platform and hold an open house to showcase the property. Any potential customers should be directed to Auction.com to register and join the auction on the auction date.
Should I continue to market the property even after the auction process has begun?
No, any marketing of the property should stop on the day of the auction.
What is my commission?
3% of the winning bid is set aside as realtor commission.
Is the commission split between the buying and listing agent?
Yes, if there is both a buying and listing agent for the property, the 3% commission is split evenly between both agents. The chance of splitting commissions is minor because many of the properties are purchased by investors who are usually not represented by an agent.
What is the commission reduced compared to a standard sale?
When a property is listed for sale through Auction.com, the amount of work required by a real estate agent is dramatically reduced when compared to properties sold by other methods. Marketing the property requires a few photos and listing the property on your local MLS and, when possible, hosting an open house before the auction begins. That’s it.
Is the buyer always represented by an agent?
No, buyers are generally represented by agents only about 15% of the time. Most Auction.com buyers are investors who are real estate savvy and do not use an agent to purchase properties.
Is there a referral fee?
There are no referral fees.
What is the process for directing potential customers?
If a person is interested in the property, please direct them to the Auction.com website and have them create an account and register for the auction for the property. When the auction cycle begins, Per court order, properties that are sold through RealAssist may not be sold through any other channel.
Does the buyer go directly to Auction.com to submit their bid?
Yes, buyers should be directed to go to Auction.com where they must first create an account and register for the date of the auction for the property. On the date of the auction, the buyer may submit their bid via Auction.com.
If I have additional questions about RealAssist™, who should I contact?
If you have any other questions, please send an email to the RealAssist team: RealAssist@BMSAdvantage.com, which will be directed to our RealAssist™ Subject Matter Experts, Renee Laws and Cory Clemmons.
If I have a specific question after a short sale request has been submitted, who should I contact?
If you have a specific question after submitting a short sale request, please email to the RealAssist team: RealAssist@BMSAdvantage.com. RealAssist™ Subject Matter Experts (Renee Laws or Cory Clemmons) will respond accordingly.