Broker/Buyer Referral Form

Form MUST be completed prior to prospective Buyer having contact with auctioneer, viewing property or registering to bid.

Effective November 1, 2023 any offer of buyer agent compensation has been modified to reflect a referral fee offer between Gryphon (Auctioneer), co-listing agents or brokers, and any Referring Broker.  It is understood that Referring Broker may remain involved in the transaction as an advisor to the prospective purchaser.  Auctioneer represents the Seller only in the transaction.  Terms are as follows:

1. Form MUST be completed prior to prospective Buyer having contact with auctioneer, viewing property or registering to bid. Note that this registration covers assets offered for sale by Gryphon USA, Gryphon Realty and Gryphon Auction Group.

2. It is understood and agreed that the referral offer will be governed in accordance with the below terms. That this form must be completed truthfully and in its entirety to be considered in effect.

3. The referring Broker must, in writing utilizing this Auctioneer approved format, fully identity of the prospective Buyer in order for this agreement to be in effect. In the event the Prospective Buyer is a corporate entity, all principals of said entity must be disclosed.

4. A fee of 2% of the high bid price will be paid to the referring Broker named herein if all of the following conditions are met: a) this Form is properly and fully completed and submitted prior to any communication by Auctioneer staff with prospective Buyer and before prospective Buyer registers to bid b) the prospective Buyer named herein is the highest bidder at the Auction Sale c) the prospective Buyer named herein, as the highest bidder at the Auction Sale, executes a Memorandum of Sale, Purchaser Form or Real Estate Purchase Agreement d) the prospective Buyer closes on the sale of the subject property in accordance with the terms of the aforesaid Memorandum of Sale, Purchaser Form or Real Estate Purchase Agreement e) the Court, in a Court Ordered Sale, approves the final sales price and commissions.  As of September 1, 2023, any Foreclosure Auction with a buyers premium equal to or less than six percent shall not offer a referral commission to buyer agents/brokers from Auctioneer.  In such instance, buyer agents/brokers are encouraged to review the compensation terms outlined in their standard Buyer Agent/Broker Agreement.  Assets identified as “in conjunction with” another entity in the description comments may not offer compensation.

5. No fee will be paid if the registering Broker, or member of their immediate family, are participating in the purchase of the property in any manner.

6. Referral of a prospective Buyer does not, in any way, create an agency or fiduciary relationship between the prospective Buyer and Auctioneer or a co-broker relationship between Auctioneer and registering broker.  Auctioneer represents the Seller only in the transaction.

7. No fee will be paid unless and until Auctioneer receives its full and final payment of all commissions due. At such time, Auctioneer shall remit the agreed upon amount to the referring Broker.

8. Any agent or broker who ultimately registers as a bidder and bids on behalf of another person or entity will not be compensated out of sale proceeds, commissions collected by Auctioneer or buyers premiums collected by Auctioneer.

9. Modification to the Broker Acknowledgement terms must be made in writing and can only be modified with the written acknowledgement of Gryphon USA, Ltd. Principal.

10. In the event of any discrepancy between the terms contained herein and any other advertisement, including any MLS advertisement, the terms herein shall apply.

Please be advised that registration does not constitute a guarantee of commission and receipt of an auto-response email from Auctioneer does not constitute our acceptance of any registration. Compliance with all terms stated above is also required in order to receive compensation.

Terms valid as of November 11, 2023 at 12:01 am Eastern Standard Time.

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