FREQUENTLY ASKED QUESTIONS

Seller

HOW DOES THE AUCTION PROCESS WORK?

In conjunction with your agent, we showcase your property to targeted members of our global database of more than 825,000 individuals, including our Private Client Group of high-net-worth buyers, agents, and industry experts. The process typically results in 200–400 prospects, 25+ showings, and 3–7 qualified buyers competing for your property. Before the auction opens, you can decide whether to move forward after reviewing the field of bidders and their starting bids.

AREN’T AUCTIONS ONLY FOR DISTRESSED PROPERTIES?

No. Our typical seller is well capitalized. They choose auction to control the timing of their sale.

WHAT AUCTION FORMATS DO YOU USE?

We use two auction formats. 1) No Reserve: There is no minimum bid to purchase. 2) Reserve: Will sell at or above a pre-determined price threshold.

WHAT DOES IT COST? HOW DO YOU GET PAID?

We do not charge any fees to sellers. Our fee comes from a premium paid by the buyer. Sellers pay agent commissions as outlined in their listing agreement.

I AM READY TO AUCTION MY PROPERTY. NOW WHAT?

We are solely focused on luxury properties. Call us, or have your agent call us, to discuss your property.

Buyer WILL I BE ABLE TO SEE AND INSPECT THE PROPERTY?

Properties are available throughout the exposure period for potential bidders to preview and conduct inspections. Diligence is encouraged as all sales are “as-is,” without contingencies. Terms and Conditions of Sale, Purchase Contract, and property documents are available on each property’s page on conciergeauctions.com.

WHERE DOES THE AUCTION TAKE PLACE?

Bidders can participate in our auctions from anywhere in the world. The auctions are conducted on our digital bidding marketplace, conciergeauctions.com Bidders may also place bids over the phone with a dedicated bidder’s assistant.

I AM READY TO REGISTER TO BID. NOW WHAT?

You may register to bid via our online marketplace at conciergeauctions.com. Or, call us for personal service.

Our registration process has three steps:

1. Complete the Terms and Conditions of Sale.

2. Wire your Bidder Deposit, typically $100,000, which is credited towards your purchase if you are the winning bidder or is returned if you are not.

3. Provide a letter of reference from your bank or financial institution.

Agent

WHAT HAPPENS TO THE LISTING AGREEMENT IF MY CLIENT CHOOSES TO AUCTION?

Your listing agreement remains 100% intact.

CAN I SPEAK WITH OTHER AGENTS WHO HAVE PARTICIPATED IN YOUR AUCTIONS?

Certainly. Visit conciergeauctions.com/agents to see a list of agents with whom we have worked.

HOW CAN AGENTS EARN MONEY WITH CONCIERGE AUCTIONS?

There are five ways: Represent a seller. Represent a winning bidder. Refer a new listing agent. Receive seller or buyer referrals from Concierge Auctions. For more information visit conciergeauctionsreferral.com.

CAN I REPRESENT A BIDDER FOR AN AUCTION IN A LOCATION IN WHICH I AM NOT LICENSED?

Yes. If your bidder wins the auction, your broker will be paid the co-brokerage commission as a referral fee.

Learn more at: conciergeauctions.com/faq