Past AuctionsFrequently Asked Questions

 

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Auctioneer, Isaac Glasman
NYC DCA License No. 1272504

  

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Brokers

We cooperate fully with real estate agents, both as sources of buyers and as sources of auction assignments.

Auction Assignments

Often a broker and seller become impatient because the property they are attempting to sell is not moving. Whether because of poor exposure, an apathetic market place, or difficulty finding precise buyers for a hard to value property, often a property will just not get any bites. However, it might be an excellent candidate for an auction. The auction process increases exposure, pumps up the temperature, and exposes buyers who had not been visible previously.

Becoming a cooperating broker can increase your image and your company’s image by helping you to offer an additional sales vehicle for the property. 

It is our policy to share all customers generated from the property with the cooperating broker.  Though we maintain a database, Gramercy Auctions never acts as a buyer’s broker.  In addition to the commission you earn, you will have a list of all the highly motivated buyers who took part in the auction.  These are strong new customers—customers who are able to close in an expedited fashion and who arrive at the auction with certified funds.

Generally, we offer 2.5% commissions to brokers who are the material cause of our being able to sign up a property.   To discuss options and fee structure for any particular property please contact one of our assignment originators.

Procurers of Buyers

Typically, referring brokers will receive a 2.5% fee if your customer is the successful bidder.  More specifically, the referring broker will be paid a commission as set forth in the terms of sale for the precise property.   You can find the terms of the structure in the additional information section of our auction calendar listings. 

Call or contact the Auction Assignment Manager if you have any questions. You must be a licensed real estate broker/salesperson. You must register your client not later than 24 hours before the auction is to take place.

  • In order to collect a fee the high bidder must be your customer and must close on the property.
  • Registration acceptance will be notified in advance of the auction.
  • No broker will be recognized by Gramercy Auctions for a client who has contacted or been contacted by Gramercy Auctions directly.
  • An affidavit is required that the broker is acting only as a broker and not as a principal.