Broker Participation Policy

Pete Richardson Auction Sales will participate with all Real Estate Brokers.

The participation fee is: One-half of the Buyers Premium, not to exceed One percent 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 PRAS is necessary. Acknowledgement of receipt is not to imply that PRAS 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 PRAS. If a buyer contacts PRAS 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 PRAS mailing list. Or a person known to PRAS.

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 Broker, if the buyer is a Real Estate Agent or Broker. Married to or significant other of the Broker. Has a business relationship or in a partnership with the Broker concerning the subject property or any other property. Employed by the Buyer or the Buyer employed by the Broker.

Any False statements by the Broker to PRAS will deem the Broker ineligible to receive the participation fee.