Agent Use & Qualified Listings Guidelines
In order for an agent to participate in a co-op commission, the property must be eligible and the bidder must complete the following procedures properly if agent's buyer is making a bid without their agent being present.
A. On For Sale By Owner properties, the owner will post an agreed upon commission they are willing to pay to the successful bidder's real estate agent's broker if the bidder has an agent. Information required includes agents name, company name, agent's email address, and telephone number. If the seller is not offering a co-op commission then any buyer who has their own agent and bids on such property then no co-op commission shall be due from the seller even if agent's buyer registers agents name as their agent. Each seller will publicly display on the property information page within homebidxpress.com any such real estate commission they are willing to pay to a buyer's agent.
B. Entitlement: The bidder properly filled out and submitted the initial Registration and Bid Submission form with the appropriate information listing you as their agent of record with their first bid.
C. Any property being offered at the 72 Hour Online Sales Event which is listed by First Agency Group, Real Estate Services or any other licensed real estate Broker will have a stated co-op fee listed on the property information page on homebidxpress.com. This stated co-op commission should be the same as advertised on any local MLS the property may also be listed on. Homebidxpress nor its agents First Agency Group Real Estate Services shall not be liable for any fees not paid as a result of a dispute over co-op commissions between any Brokers not affiliated or owned by First Agency Group Real Estate Services.
D. All fees agreed to be paid by seller on the homebidxpress.com 72 Hour Online Sales Event, if selling For Sale By Owner are not the responsibility of homebidxpress.com or its agent, First Agency Group Real Estate Services.All collection of fees are the sole responsibility of the Broker who enters into a contractual agreement after a bid from their buyer has been accepted by a seller selling For Sale By Owner posting their listing on homebidxpress.com. Posting fess and advertising fees paid to homedbidxpress and their agent First Agency Group Real Estate Services shall not be shared with any other real estate agent or their broker.
E. It is recommended that you assist your bidder with the initial offering and go over all online forms for Registration, Terms and Online Contract.
F. It is the responsibility of each agent to make sure any listing posted on homebidxpress.com where a bid is accepted by their seller to initiate all contracts and addenda pertaining to its individual state and federal laws unless buyer has their own agent whereas their agent would then initiate all necessary forms to complete the transaction per the online terms and contract on homebidxpress.com
G. Any licensed real estate Broker who purchases our services to post and market their listings for bids on homebidxpress.com shall agree to abide by our rules and regulations pertaining to use of the site and all information provided about each property listed shall be true and accurate to the best knowledge of such licensed real estate brokers and its agents.
H. If your client is the successful bidder, on a property listed by a For Sale By Owner or any licensed real estate broker not listed by you or your company then you should be responsible for drawing up the written contract within the time permitted after notification of your bidder having an accepted bid from the seller of the property.
I. Posting real estate agent listings on homebidxpress.com: Any licensed real estate agent with the permission of their seller and broker may purchase our services and offer said property for sale by online bidding per the listed and published terms and conditions otlined online at homebidxpress.com. Each listing posted shal have 6 months of unlimited 72 hour online bidding events for $99.00 plus $19.99 shipping and handling. If a bid is accepted online using homebidxpress.com then an additional $995 shall be due. All transactions are payable by credit card.
Please contact our office concerning any questions about the process.
In Ohio - (513) 831-3744
In Kentucky - (859) 441-0877
