(Continued from Page 18)
prospective bidders with information to help them in their buying deci
sion. Also known as ringmen, bid consultants, bid spotters, or grounds-
men.
•BID CALLER - The person who actually “calls,” “cries or “auc
tions” the property at an auction, recognizing bidders and acknowledg
ing the highest bidder. Commonly known as the auctioneer.
•BID RIGGING - The unlawful practice whereby two or more
people agree not to bid against one another so as to deflate value.
•BIDDER NUMBER -The number issued to each person who regis
ters to bid at an auction.
•BIDDER PACKAGE - The package of information and instruc
tions pertaining to the property to be sold at an auction event obtained
by prospective bidders at an auction. Sometimes called a bidder packet
or due diligence package. '
•BIDDER’S CHOICE - A method of sale whereby the successful
He noted that the term “realtor” is a trademark
word that binds agents to strict code of ethics set
down by the National Association of Realtors, A
“real estate broker” is not necessarily a realtor, he
pointed out.
Oberholtzer has adapted to using computers as a
tool of the trade. He routinely takes a digital camera
with him to take pictures of farms and homes. If a
buyer calls him about a property, he can send
photos and other information via e-mail in a matter
Complete Professional
Auction Service
Real Estate • Personal Property
Ar" F E
Miller & Siegnst have over 50 yean combined
expedience ol excellence in auciioneei mg and sale
pieparaCion The team will meet all \oui needs with
professionalism, integi ity and couiteous seixue
Miller & Siegrist
Auctioneers
(717) 687-6857
235 I Idi tnidn Budge Road Ronks PA 17572 * lie ft AU 1723-L
Learn Auctioneering Terminology
Oberholtzer Recalls
high bidder wins the right to choose an item or items from a grouping of
similar or like-kind properties. After the high bidder’s selection, the
item is deleted from the group, and the second round of bidding begins,
with the high bidder in round two choosing an item which is then de
leted from the group and so on, until all items are sold.
•BOOKKEEPER OR CLERK - The person who is responsible for ac
counting and paperwork at an auction sale.
•BROKER PARTICIPATION - An arrangement for third-party
brokers to register potential bidders for properties being sold at auction
for a commission paid by the owner of the property or the auction firm.
•BUYER’S BROKER - A real estate broker who represents the buyer
and, as the agent of the buyer, is normally paid for his/her services by
the buyer.
•BUYER’S PREMIUM- An advertised percentage of the high bid or
flat fee added to the high bid to determine the total contract price to be
paid by the buyer. (Turn to Page 75)
(Continued from Page 73)
of minutes.
One of his favorite stories is of the time he sold a
farm to a man who was living several thousand
miles away.
“A guy called from the boonies of Alaska and
said he saw the ad (for a farm) in Lancaster Farm
ing. I sent him a video (of the property), and he
called back and said, ‘I want that farm.’ On the
basis of that video, he flew here and signed the
papers.”
Ron rhoadC w* ***** ** d *****
AUCTIONEER fomoUt* tie
VtUttwie 'l/ttteyl
Services
• Estate Liquidation: On site or removal
• Real Estate Sold; Golf course, commercial,
industrial, farms, and residential
• Antiques and Art: Paintings, oriental rugs,
toys, dolls, jewelry, coins, furniture
• No fee consultations
We do affordable work with quality results!
Visit our website for upcoming auctions
www.echant.com
Ron Rhoads - AU002045L
Eileen Rhoads • AU003750L
Ron Rhoads Auctioneer
383 Ben Franklin Highway West
Douglassvilie, PA 19518
Phone; 610-385-4818
Fax:6lo-385-4821
EMAIL: rrhoads@sprynet.com