by Myers Jackson | Sep 10, 2022 | Terms
Bid Assistants Individuals of a live auction team whose primary responsibility is to accurately interpret and effectively communicate buyer participation to their auctioneer. They should also be qualified to assist prospective bidders with the necessary information to...
by Myers Jackson | Sep 10, 2022 | Terms
Bid Acknowledgment A form executed by the high bidder confirming and acknowledging the bidder’s identity, the bid price and the description of the property. Also known as “Memorandum.” Real estate words and definition CLICK THIS BUTTON For other words and...
by Myers Jackson | Sep 10, 2022 | Terms
Bid A prospective buyer’s indication or offer of a price they are willing to pay to purchase property at auction. Bids are usually in standardized increments established by the auctioneer. Real estate words and definition CLICK THIS BUTTON For other words and...
by Myers Jackson | Sep 10, 2022 | Terms
Benefit Auction Specialist A professional designation awarded by the NAA Education Institute designed to teach professional auctioneers the planning techniques that create successful benefit auctions. BAS auctioneers learn marketing skills and create a business...
by Myers Jackson | Sep 10, 2022 | Terms
Bank Letter of Credit A letter from a bank certifying that a named person is worthy of a given level of credit. Often requested from prospective bidders or buyers who are not paying with currency at auctions. Real estate words and definition CLICK THIS BUTTON...
by Myers Jackson | Sep 10, 2022 | Terms
Ballroom Auction An auction of one or more properties conducted in a meeting room facility. Real estate words and definition CLICK THIS BUTTON For other words and definitions related to real estate auctions CLICK THIS BUTTON For all active auctions, and...
