How It Works!

Bidding

Once you are approved to bid and bidding opens to the public, you can place bids on one or multiple assets up to your approved bid limit. Please note that your bid limit applies at the sales event level – if you are bidding on multiple assets and happen to win a sale, your bid limit will be decreased by the high bid on that property. Proof of funds will be required upon registering to bid on any property.

Placing a Bid

To place a bid during a sale, simply click the Place Bid button. You will be prompted to confirm your bid amount.

Note: as with your registration, placing a bid confirms again that you have agreed to abide by the Terms and Conditions of the sale.

The default bid amount is the next minimum bid increment. Users are allowed to bid above the minimum bid increment by typing in a specific bid amount, clicking Place Bid, and confirming the bid.

Auction Clock

A countdown clock is included on each asset page. This indicates the total time remaining in the auction. The clock will reset to 3:00 minutes if either of the following events occur:

A bid is placed with under two (2) minutes remaining.

The bid increment is lowered with under (2) minutes remaining, and the reserve has been met.

Auction Results

A sale can result in an asset expiring, being sold, or being sold subject to seller approval.  Assigned agents will reach out to all bidders to update the status and current bids amount on the property.

High bidders will be contacted by an approved agent representing Jenkins Real Estate Auctions LLC, with further instructions should the asset be sold or sold subject to seller approval.

Buyer’s Premium Fee

An agreed upon (5 to 10%) “Buyer’s Premium Fee” is due to the auctioneer on all assets sold on the platform at the close of escrow. This fee is updated on every property before the start of the auction and bidding on any property. 

Bidder information packets will be provided along with auction guidelines and legal and binding contracts, when registering to bid on any property.

An assigned agent with Jenkins Real Estate Auctions LLC will make contact with every registered bidder and guide the bidder through the bidding registration process and help guide the winning bidder throughout the purchasing of the property to the close of escrow.

The “Buyer’s Premium Fee” is (not included in the winning bid price for the property)! The “Buyer’s Premium Fee” will be added to the purchase price based on the agreed upon contract and due at closing, along with the amount of the purchase price for the asset (as provided in the Purchase Agreement). This fee is not negotiable.

If you have any questions or need assistance on the bidding process, you can reach us at 916-588-0067 or realtorterryjenkins@gmail.com

Title Company and Escrow Officers

Jenkins Real Estate LLC will assign a title company and escrow officer to every property sold on our platform(s).  Our approved agent will contact the winning bidder and provide instruction on how to make contact with the assigned escrow officer in charge of the escrow account on the property.

Winning bidders will be expected to wire transfer the non-refundable earnest deposit to title, with in 3 days from going into contract to purchase the property.

The assigned agent and escrow officer will stay in communication with the winning bidder all the way through the close of escrow.  All required funds will be completed with in 30 days from going into contract unless the seller of the property allows for more time.  If the seller refuses to allow for the extra time, loss on the non refundable earnest deposit and non refundable buyer’s premium fee may be at risk.

Bidder Registration

The registration process is a three-step process that involves submitting contact information, selecting the assets you intend to bid on, and submitting financial information.

The information you submit requires verification, thus registration should be completed at the earliest possible time, preferably before the bidding window opens.

An approved agent with Jenkins Real Estate Auctions LLC will be assigned to every registered bidder and will guide all bidders from the registration, bidding and the close of escrow.

Bidder Information

Bidder information is populated with information submitted at user registration. This section requires key contact information in order to complete registration.

Select Assets You Wish to Purchase

Marketplace allows users to register for one or multiple assets in a sales event. Selecting multiple assets is as simple as checking a box.

Submit Proof of Funds

Bidders are required to establish a bid limit for a sales event. Jenkins Real Estate Auctions LLC will have one of our approved agents reach out to every registered bidder and will verify and approve, modify, or decline a bid limit based on the proof of funds submitted. In general, only liquid funds readily available to the bidder will be counted towards the requested bid limit. If multiple individuals or entities will be collaborating to bid on an asset, select the “Are other funds to be considered” dropdown and elaborate on such agreement.

Note: With your request to register to bid and submittal of eligible proof of funds, you are agreeing to the Sale Terms and Conditions.

After registering to bid, you will receive an email confirmation outlining your approved bid limit. If for any reason you would like to increase your bid limit, you may submit additional proof of funds via your Buyer Dashboard.

If you have any questions or need assistance on the registration process, you can reach us at 916-588-0067 or contact your assigned agent.

Cooperating or Co-Listing Agent Fee

Licensed real estate agents are permitted to register and use Jenkins Real Estate Auctions LLC platform, provided that such real estate agents shall be fully subject to and bound by these Terms.

A Cooperating Agent Fee is based on the purchase price as specified in the Purchase and Sale Agreement and is only payable upon completion of a sale.

Co-listing agreement forms are to be filled out and submitted to Jenkins Real Estate Auctions LLC before listing a property on any of our property auction platforms.  Co-listing fees and agreements will be under contract and fees due to all real estate agents will be paid at the close of escrow. 

Qualifying For a Cooperating or Co-Listing Agent Fee:

Qualifying for a cooperating agent fee, in certain sale events, may require Seller review and approval. Cooperating agents seeking a co-listing agent fee are required to confirm in writing with the Seller’s Broker as to whether this requirement is applicable to them and the asset they are seeking a fee on.

Certain Sale Events on JENKINSREALESTATEAUCTIONS.COM may offer a commission for cooperating agents, so long as (i) the co-listing agent has registered on JENKINSREALESTATEAUCTIONS.COM as a licensed realtor, (ii) the co-listing agent is identified by the Bidder with whom it is associated and (iii) the Bidder represented by such co-listing agent actually purchases the Property, if Owner accepts the Bid from such Bidder. A co-listing agent may only be entitled to a commission if such agent meets the following conditions: (i) the agent agrees to these Terms and all other terms and conditions posted on the applicable Property Webpage(s); (ii) the agent is not a family member or an affiliate of the Bidder such agent represents; (iii) the agent is properly licensed in the state(s) in which the applicable Property or Properties is located; (iv) the agent is identified by the Bidder at the time that such Bidder registers on JENKINSREALESTATEAUCTIONS.COM; (v) closing occurs, including proceeds paid to seller and title passing. Should any of the conditions not be satisfied for any reason, co-listing agent shall not be entitled to any commission in connection with the transaction and hereby waives same against the Seller, Sellers’ Broker, Century 21 Select Real Estate,  Realtorׂ® Terry Jenkins and their affiliates, officers, members, employees, owners, and shareholders in connection therewith.

Each Bidder/Buyer agrees to indemnify, defend and hold each of the Indemnities, free and harmless from any claims of any broker(s), representative(s), employee(s), agent(s) or other intermediary (ies) claiming to have represented Owner, Buyer and/or Bidder, respectively, or otherwise to be entitled to compensation, including a co-listing agent fee, directly or indirectly arising out of or relating to the Purchase Agreement or the sale of the Property. This indemnity shall survive both the closing and any termination of the applicable Purchase Agreement.

Notice: These terms may be further subject to state specific requirements. The amount or rate of real estate broker compensation may not be fixed by law. It may be set by each agent individually and may be negotiable between you and the broker. The agreement is subject to general statutes prohibiting JenkinsRealEstateAuctions.com discrimination in commercial and residential real estate transactions.

List with Us

Jenkins Real Estate Auctions LLC listings are available to registered brokers as a marketing and sales management solution, bringing together our rapidly growing user base of motivated investors with top-tier investment opportunities.

Our listing service offers an entire suite of customizable features to provide the broadest market exposure. Easily add listings through an intuitive, step by step, asset creation tool.

There is no cost to list a property, and listings will be visible for up to 60 days with an option to remove or extend prior to expiration.

Take advantage of:

Global Exposure – market to thousands of motivated investors with experience in all asset classes.

Secure Data Vaults – optional full due diligence rooms behind electronic confidentiality agreements.

Marketing Statistics – track results in real-time to find your next buyers via page view and signed confidentiality agreement lists.

Offer Management – receive, review and respond to offers on your customized timetable.

Approved agents will have the opportunity to market to homeowners, the ability to list and sell their property at a low (2 to 3%) fee.  Not at the (5 or 6%) fee another agent will want to charge them.  This will no doubt help again more listing appointments and listings, especially since you will be saving the homeowner thousands of dollars when hiring you as their agent to sell their property.

We already have TV advertising campaigns scheduled by zip code and we will work together with you to provide you with leads from our advertising and marketing programs.

We are here to help you and understand that “Our Success, is from Your Success!

Note: We charge the agent an additional internet transaction fee of $200.00 on every property that every agent/broker lists on our platform and we only accept payment when the property closes escrow.  The fee is paid at the close of escrow.

If you are an agent or broker and want to learn more on selling properties on an online platform, then reach out to me.

My promise is to work together with any licensed real estate agent, to help enhance their real estate career.  “You have my “Promise”.

Jenkins Real Estate Auctions LLC

(916) 588-0067

CREA – Certified Real Estate Auctioneer®

Jenkins Real Estate Auctions LLC – Formed In California

Entity No. 202358616912

Registered: State of California – Secretary of State

Surety Bond Auctioneer/Auction Company – Bond# 387770D