Terms:
It is understood that the Broker commission structure will be based on the stated Terms and Conditions of sale of the referenced auction and that said commission will be based on the bid structure below.  Commission is to be paid only to the licensed Real Estate Broker named herein upon closing, where permitted by law, if the above name "Buyer" is the high bidder at auction and the subject property is sold to the same buyer. Broker shall not be entitled to said commission on account of any sale to an entity of which (or any affiliate of which) the broker is a principal, employee, or affiliate, or immediate family member. Agent(s) must accompany buyer(s) to the auction. Only the first registration of a prospective bidder received will be honored. No Broker Acknowledgement Forms will be accepted at the auction site.
*High bid is defined as purchase price less Buyer's Premium, if applicable, or "Hammer Price". Commission will be paid as follows:

A commission will be paid to the Broker at settlement at a rate of one point five percent ( 1.5% ) of your client ’ s opening bid and an additional one percent ( 1% ) of the difference between the opening bid and final accepted high bid. For example: If you and your client agree to give an opening bid of $100,000 and the property sold to your client for a high bid of $150,000, your broker would receive ( 1.5% ) of the $100,000 and ( 1% ) of $50,000 for a total co-op fee of $2000.00

The higher the opening bid, the higher the commission paid.

No commission will be paid to brokers or agents acting as principals, or to any broker who is currently suspended or disbarred by the Real Estate Commission.