I know I was. For months I battled with Nationstar trying to avoid the Auction.com "Verification of Offer" process. If you are not aware of the issue you can read up on it here.
Anyway.......I fought the good fight and I lost :) So I decided to give auction.com a try and see if I could figure it out.
The program has changed. The no longer take a portion or our commission. They honor the commission in the listing agreement including the split. This assumes the lender/investor doesn't make a change.
Auction.com is paid from the 5% buyer premium.
If you already have a buyer prior to the auction process then the buyer should register on the auction.com and monitor the auction. If the bidding goes above the current contract hen the buyer can increase their "bid". If the existing buyer wins the auction they do not have to pay the 5% buyer premium. The deal basically gets kicked back to the listing agent.
You can also request to get auction.com involved right up front (prior to selling the property). The property will through the auction process as normally and you would still get full commission. The MLS co-broke would be honored for any represented buyers. Unrepresented buyers will come back to you and you get the full commission.
As for the borrower, they get full Waiver of Deficiency if they participate in the process. They may be REQUIRED to if they want to do a short sale.
I found the process to be very smooth and plan to do many more. May be a new niche since many agents will avoid them. I smell opportunity. If you are a Florida agent I'd be happy to handle Nationstar/Auction.com short sales for you.
My main concerns (disclosure and commission structure) were sorted out with the new auction program. Just be sure to disclose, disclose and then disclose again.
I hope this helps.--