CRE Auction Company Lets Brokers Keep Full Commission

Posted by Orb Staff on March 04, 2010 No Comments
Categories : Commercial Mortgage

The LFC Group of Companies, providers of online real estate auction marketing services, is expanding its Never Lose a Listing (NLL) program for commercial real estate to allow brokers to use the company's online auction platform while retaining 100% of their commission.

Brokers can use the NLL portal to set up the online auction by creating their own branded auction Web page, entering property information, uploading property documents and photographs, and setting auction parameters, such as the minimum bid and bid deadline.

Once their auction is "live" on the Web site, the broker uses LFC's auction technology to conduct the advertising campaign, manage prospective bidders and direct everything from the bidding to the final sale, the company says. The broker retains 100% of the commission, and LFC earns a fee paid by the buyer at closing.

SOURCE: LFC Group of Companies

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