Auction Property Best Practices/Guidelines

Auction Property Best Practices/Guidelines

As with all listed properties in the MLS, cooperation and compensation must accompany all Auction properties entered into MLS.

List Price: The Opening Bid for the Auction, or buyout price should be used.

Showing Info:  If the property can’t be shown it is ok to put No Access Due to Auction.

Public Remarks: The remarks section is to be used to describe the property. Agent/Broker contact information may not be displayed under any circumstances. Inappropriate information will be removed and the office will be sanctioned at the current rate.  Please include the Auction Status in Public Remarks to increase search ability, as well as if the price indicated is an opening bid price or buyout price.

Private Remarks: This is for information you want other brokers to have and prints in “Private Reports”.   It does not print in “Public Reports”.  Information such as remarks about commission, mortgage information, virtual tours etc. can be entered here.  It is also recommended that Auction information be included in this section to enhance search ability.  Website information can be included here to take people to the auction site.

Terms/Misc: In Foreclosure/REO, Auction should be selected for search ability.

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