Common Questions Asked By Brokers
Q: Do you pay real estate brokers a cooperating fee or commission?
A: If you are a real estate broker, we do pay a commission. It is important for you to go to the frequently. Ask questions section of ready2bid.com and fill out the broker participation form, certain requirement apply.
Q: I’m a broker, can I participate with my client in the auction?
A: Yes, you can represent a buyer in an auction. As a broker, you’ll need to fill out the FAQ, Broker participation form. You will not bid for your buyer.
Q: Do I or can I bid for my client?
A: No, it is the responsibility of the bidder to register online and place their own bids. Our closing coordinator handles the Transaction contractor clothes. We use a North Carolina standard bar auction to purchase contract. Since this is an auction, there is no negotiations. The only thing that is Unknown is the purchase price.
Q: What is a soft close?
A: A soft close extends the auction if a bid is placed in the final seconds. At The Swicegood Group, we typically use a 3-minute soft close. For example, if a bid is placed with 50 seconds remaining, the timer resets to 3 minutes. We recommend placing your bids early to avoid last-minute issues.
Q: What is a buyer’s premium?
A: A buyer’s premium is a percentage added to the final bid amount.
Example: If the buyer’s premium is 10% and you win the auction at $100,000, your contract purchase price would be $110,000.
Q: Can I preview the property?
A: Yes, previews are available for our auctions. Specific preview times can be found by clicking the specific auction tab on our website. Please note that we do not offer open daily access to any auction. All auction items are fully described and photographed online for your review.
Q: How does my client bid at an auction?
A: . All bids are taken either on a computer at Ready2bid.com or on our bidding app. Bidders can downlown the free app by typing Swicegood on the app or play store on their phones. To place a bid, a bidder must first register and provide valid credit card information. You may bid in two ways:
Place a bid at the current asking price.
Enter a maximum bid, allowing the system to bid on your behalf up to that amount.
Q: Why do you require bidding increments?
A: Bidding increments ensure a smooth and fair bidding process, preventing minimal increases such as a penny over the current bid.
Q: What is a soft close?
A: A soft close extends the auction if a bid is placed in the final seconds. At The Swicegood Group, we typically use a 3-minute soft close. For example, if a bid is placed with 50 seconds remaining, the timer resets to 3 minute. We recommend placing your bids early to avoid last-minute issues.
Q: How long does my client have to close on the contract.
A: Typically, we along 30 days to close from the day of contract. We use standard form 620-T
Q: What is the required deposit.
A: See terms and conditions for specific deposit requirements. Winning bidder’s deposit is non-refundable and applies to the purchase price of the contract
I want to speak to a broker, who are our brokers and what are their phone numbers?
Kyle Swicegood 336-909-2583
Elizabeth Swicegood 336-909-2584
Ashton Burton 336-909-5138
Lewis Swicegood 336-970-7944
Zach Johnson 828-408-1651
Justin Latham 336-477-5008
Ron Helderman 336-816-5453
Angela Williams 336-354-7982
