Real Estate Agents/Brokers

Real Estate Agents/Brokers



Q. I have not participated in an online auction. How does the auction work?


A.Everything happens on our website at or on our App, SVN Auctions. Your client will register by clicking the orange button BID ONLINE NOW. In addition to bidding, the website contains all Property Information Detail & Photos, How-To Videos, Buyer FAQs, Seller FAQs, Real Estate Agent/Broker FAQs, Blog Posts, and Auction Results.


Q. Is it like eBay?


A. Yes, with one exception.  Our bidding platform does not allow “sniping” at the last second.  Our bidding platform gives every bidder a fair chance to bid. If a bid is received within the final 5 minutes of the auction close, the auction will automatically extend for 5-10 minutes and notify all bidders that they have a second chance to bid. The system will continue this process until there are no bids in the last 5 minutes of the auction. This is the online version of a live auctioneer saying, “Going Once, Going Twice…….” This is called a “dynamic” or “soft” close.


Q. Can my client make an all-cash offer and buy the property now before the auction?


A. Sorry, we do NOT accept offers outside of the online bidding. Please have your client register and bid online.


Q. Can my client see the bids?


A. Yes. All bids are displayed on the bidding platform. Bidders can only see the bids, NOT who is bidding.


Q. Does my client make just one bid/offer?


A. No. We hope your client will bid numerous times. The bidding goes up in increments displayed on the bidding platform. When your client is “outbid’, they will receive an email or text saying, “You have been outbid. Click here to bid again”.


Q. Is this like a traditional sale with an inspection period after the auction?


A. Sorry, No.  Please have your client bring a contractor, inspector, or roofer to your showing or an open house. We want the bidder to know exactly what they are bidding on. The property sells in “as is, where is” condition.


Q. What is the buyer’s premium?


A. The buyer’s premium is added to the winning bid price to arrive at the final contract price. You and your client can think of it as similar to the “tax” that you pay at the grocery store. For example, if the winning bid is $10,000 on a property then you would add the buyer’s premium of 10% or $1,000 for a total contract price of $11,000. Advise your client to bid 10% less then they had planned. Real estate agents, SVN Gilmore, and marketing expenses are paid from the buyer’s premium.


Q. Can my client bid from a smartphone?


A. Yes. Have your client download our app, SVN Auctions, from the App Store or Google Play to their smartphone. The same amazing features that are packed into our bidding platform is now in the palm of your client’s hand. It features real-time updates, notifications, and “Max” bids. Your client may bid online at any time, from anywhere.


Q. How do I represent my client and earn a commission?


A. Show the property to your client.

 -Learn all that you can about the property and how the online auction works.

 -Research comparable properties and advise your client on the value range.

 -Have the client register on our bidding platform at While we know that your first reaction is to serve the client and bid for them, we do NOT recommend this. Unless you are willing to purchase the property, we advise you to have your client handle their own bidding.

-Download the Buyer Client Registration Form at the bottom of this info. Have you client and broker/manager sign the form and email it to a minimum of 2 days prior to the end of bidding. When your client purchases a property, you will receive a commission check at closing. This will be the easiest commission you have ever earned.


Q. Do I have to prepare and submit the purchase agreement?


A. No. When the online auction closes, our team will email the purchase agreement to your client for an electronic signature and ten percent deposit.


Q. What about the title? Do we have to check it for liens, back taxes, etc.?


A. All of our auctions are sold with good, insurable titles and no liens, judgments, mortgages, or back taxes. The seller is responsible for providing a good title. If the title cannot be cleared, which is very rare, we will return the deposit to your client and the sale canceled.


Q. How can I show the property to my client?


A. Most residential properties are on Supra lockbox and can be shown by all agents. Please schedule it on Showing Time. Properties that are not on Supra lockbox are usually on a mechanical lockbox. Please contact our office or check Showing Time for the code.


Q. Will the seller bid up the price on my client?


A. No. The seller and SVN Gilmore Auction are prohibited from bidding. Rest assured, your client is only bidding against other qualified bidders.


Q. Does my client need to have all cash when the auction closes? Can my client get a mortgage for the balance of the purchase price?


A. No. We only require 10% of the total price within 24 hours. The balance is paid at closing within 30 days of the auction. Please make sure that your client can obtain the balance within the 30-day period. It is permissible to use a mortgage if the loan can be made and funded in the 30-day period.  We would NOT recommend that a first time home buyer bid at an auction.


Q. Should my client use a “Max” bid?


A. The bidding platform allows for an “automatic incremental bid” where the bidder enters the bidder’s maximum bid, but the system will only bid up to the next nearest amount. If your client uses a “max” bid, they will not have to be on continuous watch to respond to bids. The bidding platform gives priority to Max bids.

For example, if Bidder A (your client) has entered a max bid of $75,000 and Bidder B enters a single bid of $50,000 then the system will automatically bid your client at $52,500. The system will only bid for your client up to the next increment.


Click Here for the Printable Broker Registration Form


All registrations must be in our office by 5:00 p.m., 48 hours before the auction.  You may email the forms to or you may mail them to SVN|Gilmore Auction, 909 West Esplanade Avenue, Suite 105, Kenner, LA  70065.