Realtor Acknowledgement

Realtor Acknowledgement 






REALTOR® Acknowledgement

I the registered REALTOR® working on behalf of my Brokerage, and our Buyer, expressly acknowledge and agree to the following Terms and Conditions:1. I have read, signed, and agree to be bound by these Terms and Conditions and the Terms and Conditions of the app, website, property sales terms and conditions and understand I am the REALTOR® for my buyer and we agree to participate in the Sale of Real Estate by Online Competitive Bidding (Auction) for the above-stated property;2. A "Buyer's Premium" may be added to the highest bid, to equal the total sale price (Example: The Auction has an 8% buyer's premium, the winning high bid is $100,000.00 + ($8,000.00 + HST 13%) thus the sold price is actually is $109,040.00). Refer to the property details to verify the Buyer Premium.3. A co-op brokerage commission will be paid to any registered REALTOR® whose Buyer/Bidder is the successful purchaser for this property, and who actually closes and pays the total contract price and closing costs for this property. It is understood and agreed that the listing brokerage will pay the co-operating brokerage commission as detailed in OREA form 320 and outlined in the auction details & terms and conditions of sale.3. Commission is contingent upon, the completion of the REALTOR® Acknowledgement online form, so the Form 320 Confirmation of Co-operation and Representation can be completed.4. REALTOR® agrees that if the commission is modified at any time, due to negotiations, the commission to the brokerage shall be finalized and formalized with the signed and completed form 320 confirmation of co-operation;5. The co-op brokerage will invoice the listing brokerage, for their REALTORS® commission as detailed in the auction details and on form 320.6. REALTORS® must accompany their buyer/bidder to a live sale. For online bidding, we encourage REALTORS® to participate on behalf of their clients or to attend as an observer.7. REALTOR® agrees that he/she shall hold harmless and indemnify XLR8 Auctions Inc, (the auctioneer) which includes the offer bidding web platform and mobile app, including its reasonable attorney’s fees, from any and all claims, with regard to the commission. The co-operating brokerage has a right to take a commission claim through their board’s arbitration processes, should an issue arise, as all commissions are disbursed through the listing brokerage or the seller's lawyer and not the Auctioneer or XLR8 Auctions Inc.8. By checking this box, I acknowledge that I have read and understood the REALTOR® Acknowledgement online form and have read and agreed to the “Terms and Conditions” for the above-stated property. The client indicated above has signed an OREA form 880 Working with a Realtor and signed an OREA form agreement of representation and has instructed me the REALTOR to act on my buyer's behalf or provide professional buyers advise, for this specific property and vow to adhere to the REBBA and other codes of conduct expected by a registered member of CREA, RECO, the local board, and registered brokerage.
REALTORS® please complete this form to link with your buyer's registration.