A Licensee May Conduct an Auction

Posted on August 1, 2012 by AAR

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FACTS AS PRESENTED BY THE CALLER:

A seller wishes to sell his business and the attendant real property in an auction.

ISSUE: 

May the broker perform the auction?

ANSWER: 

See Discussion.

DISCUSSION:

Yes.  Pursuant to A.R.S. § 32-2101(48)(e), a “real estate broker” is one who “auctions or offers, attempts or agrees to auction real estate, businesses and business opportunities or timeshare interests” for compensation.  As such, the broker may auction the business.
Arizona REALTOR® Magazine – August 2012

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