What properties offer broker coop?
This page addresses questions and concerns in regards to licensed real estate agents receiving broker coop when representing a buyer on a successful real estate transaction.
The featured auction section of our website contains many types of public auction sales. These include voluntary owner sales, estate sales, partnership dissolution sales and many others. On many of these auctions we offer broker coop to licensed agents. It is important that if you have a client interested in a particular property, or you think they might be an interested party, to call our office and ask if we are offering broker coop on that particular sale.
It is imperative that the buyer's agent is the first one that makes contact with the auctioneer. If there is broker coop available we will send you out a form to have both you and your client fill out. For all broker coop on auction sales, the form must be filled out and submitted no later than 48 hours from the auction date. Please do not confuse this with the ability for your client to bid. No one attending our auctions needs to have a licensed agent representing them. This form is solely used as a registration process with Alex Cooper Auctioneers, Inc. to make sure you as the agent, are compensated for your efforts in bringing a buyer and helping the transaction reach successful closing.
All of our traditional listings are displayed on our website. By the very nature of a traditional listing, we are trying to advertise directly to licensed agents to have one of their clients submit an offer on our listing. All of our traditional listings offer broker coop. As a licensed agent, most likely you will have access to MRIS where you can find the advertised broker coop commission. You can also call up the listing agent and ask them directly.
Please note: A buyer does not have to be represented by an agent to purchase a property that is being listed. In fact many of our purchasers represent themselves as principals.
Substitute Trustee Sales (Foreclosures)
Our substitute trustee auctions (a.k.a. foreclosures) are located both on the featured auction page as well as the foreclosure/court ordered auctions page. Unless explicitly noted there is no broker coop offered on the substitute trustee sales.
Check out our page on MD Foreclosure Auctions to get a brief idea of how these sales are conducted.
Please Note: There are many buyer's agents who represent buyers at these auctions. It is very common for the buyer to pay the agent a percentage commission or flat fee for guiding them through purchasing properties at these auctions. This arrangement needs to be organized directly between the licensed agent and the purchaser prior to the auction sale takes place. Alex Cooper Auctioneers, Inc. does not need to be notified about this arrangement since the agreement is solely between the buyer and the buyer's agent.