How does FMV Auctions.com get paid?
FMV Auctions does not charge any fees to real agent agents. Instead FMV Auctions is paid an Internet Posting Fee by the Property Owner (Many auction companies charge sellers a 5-10% Marketing Fee. FMV Auctions currently charges just $99 per 30 day auction posting – this fee is reduced or eliminated for Sellers with multiple properties – click here for more info ). In addition, FMV charges a fee to the Buyer of the property, called a Buyer’s Premium or Internet Transaction Fee which is determined by the winning bid amount. Once again, many auction companies charge a Buyer’s Premium of 5-10% of the Purchase Price, yet the FMV fee is much less (just $50 per $10,000, rounded to the nearest $50, or $500, whichever is greater) so whereas a $100,000 auction on another site might force the buyer to pay an ADDITIONAL $5-10,000 as a Buyer’s Premium, using FMV as your auction site will only add another $500 to the price for the buyer, allowing many more buyers to participate!
