Do you need an AUCTIONEER..? Will Work for Food...May Trade...for Just about anything... Myers Jackson, a Champion Auctioneer, Motivational Speaker, Photographer selling Real Estate, Horse Properties, Land, Farms and Ranches, and some of the most Luxurious Properties across America...not to mention Auctions in Major Cities across the country.Call 844-400-2828 or...
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💼 2000: 50–100 transactions
📉 2007–08: Everything slowed
🏆 Thought we’d lost it all… but still won the top award in Texas!
👉 The market may change, but hard work never goes unnoticed.
🏡 Comment below & follow along for more stories from the world of real estate!✌
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Fast numbers. Big energy. Every second counts at the auction🎤💥
Like 👍 | Share 🔁 | Comment 💬 | Follow 🔔 Want more real estate tips, auction advice, and clear definitions?
Subscribe to our YouTube Channel 👉 youtube.com/@myersjackson411 🌐 Explore More on Our Website 👉 myersjackson.com
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What Is an "Absolute Auction"?
An absolute auction is a type of auction where the item or property being sold will go to the highest bidder no matter what the price is. There are no minimum bids, no starting prices that must be met, and the seller cannot back out once bidding begins. This means if the highest bid is $1, and that is the only bid, the item will sell for that price. It’s often referred to as a no-reserve auction.
This type of auction is different from a “reserve auction,” where the seller can set a minimum price and refuse to sell the item if bids don’t reach that amount. In an absolute auction, the seller gives up that right.
How the Law Handles Absolute Auctions
Absolute auctions are governed by a set of legal rules found in the Uniform Commercial Code, often called the UCC. Specifically, Section 2-328 of the UCC explains how auctions must be handled. These rules are designed to make sure everyone involved knows what to expect.
All auctions are considered to be “with reserve” unless clearly stated otherwise. So, for an auction to be absolute, it must be clearly advertised as such ahead of time.
In an absolute auction:
Once the auctioneer calls for bids, the seller cannot withdraw the item from the auction.
If at least one bid is made in a reasonable amount of time, the auctioneer must continue and sell to the highest bidder.
The only time an item can be pulled back is if no bids at all are made within that reasonable period after bidding opens.
The law does not give an exact number of seconds or minutes for what “reasonable time” means. Instead, it depends on the type of auction and the situation. For example, in a fast-paced auction, a few seconds may be enough. In a slower auction, it might be longer.
Why Would a Seller Choose an Absolute Auction?
You might wonder why a seller would risk selling something with no minimum price. Sellers sometimes choose absolute auctions to attract more serious buyers. Because bidders know the item will definitely be sold, they may feel more confident placing higher bids.
Absolute auctions can also create a competitive environment. Since buyers know there’s no reserve price, more people may bid, which can sometimes drive the final price higher than expected. However, it’s still a risk for the seller.
What Bidders Should Know
If you're a bidder in an absolute auction, it’s important to understand that once you win the bid, you are legally bound to pay—even if the price is lower than expected. The auctioneer is also legally required to sell the item to you once bidding ends.
This system is designed to be fair and straightforward. Everyone knows that the item will sell, and that the highest bidder will win.
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Behind every smooth auction closing is a hardworking closing agent 📑✨ From checking liens and taxes to making sure all disclosures are in place, they keep the process transparent and stress-free. Be prepared, get informed, and let’s go to SOLD, SOLD, SOLD! 🔨🏡
Like 👍 | Share 🔁 | Comment 💬 | Follow 🔔 Want more real estate tips, auction advice, and clear definitions? Subscribe to our YouTube Channel 👉 youtube.com/@myersjackson411
🌐 Explore More on Our Website 👉 myersjackson.com
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I cannot make it to the sale in person. Can I bid online? If so, how?
If you’re interested in a property or item that’s going up for sale but can’t make it in person, you may be wondering: Can I bid online?
The answer is Yes in most cases, you can place your bids online. Many auctions and sales now offer online or remote bidding options, making it easier for buyers to participate from anywhere. Below, we’ll explain how online bidding works and what steps you need to follow.
Many Auctions Offer Online Bidding
Online bidding is now a common option for real estate and commercial property sales. Whether it’s a live auction or a timed online event, you can usually join from your home or office using a computer or smartphone. Always check the auction or sale listing to confirm if online bidding is available. Look for terms like online auction, remote bidding, or virtual sale. If it's not clear, contact the auction organizer or agent for details.
How to Register to Bid Online
To bid online, you’ll first need to register. This is usually a simple process done through the auction website. Here’s how it works:
Visit the auction website or platform where the sale is being hosted
Search the listing or event you want to join
Click Register to Bid or a similar button
Create an account, if required
Provide your contact details, ID, and any requested documents
Submit a deposit or pre-authorization, if needed
Once registered, you’ll receive confirmation and instructions on how to log in and start bidding when the sale opens.
How Online Bidding Works
Online auctions may be live (in real-time) or timed (over a set period). In both cases, you’ll be able to:
View the current bid
Place a new bid manually
Set a maximum bid, allowing the system to bid for you automatically
Each listing will show bid increments and any reserve price if applicable. Make sure to read all terms before placing your bid.
Other Remote Bidding Options
For those who do not wish to participate in online bidding, phone bidding or absentee bidding may be available. With phone bidding, an auction agent contacts you live during the sale to place bids according to your instructions. Before the auction begins, you can place your highest bid using absentee bidding, and the system will automatically bid up to that amount on your behalf.
Ask the auction organizer about these options when you register.
What Happens If You Win
The auction staff will get in touch with you to finalize the procedure if you submit the highest offer and win.You may need to:
Sign a purchase agreement
Pay the entire payment or a deposit within the allotted time.
Provide any additional documents
Make sure you’re ready to act quickly after the sale ends.
Final Thoughts
Being physically present at the sale is not required to place a bid. Online and remote bidding options make it simple and convenient to take part. Just register early, read the terms, and follow the steps to place your bid securely from anywhere.
For more information on bidding or available properties, contact the sale organizer or visit their website.
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In Texas, if you're a real estate agent representing a buyer—especially at an auction—you must disclose it! 🏡
✅ Identify yourself & your buyer ✅ Submit a Buyer’s Rep Agreement BEFORE entering the property ✅ Let the auctioneer/listing broker know—so everyone's clear on roles & compensation
🎯 It’s not just courtesy—it’s the law. 💼 August 17 marks one year since this rule changed. 🎤 I'm the auctioneer, and we want a fair, transparent deal for all.
Like 👍 | Share 🔁 | Comment 💬 | Follow 🔔 Want more real estate tips, auction advice, and clear definitions? 🎥 Subscribe to our YouTube Channel 👉 youtube.com/@myersjackson411
🌐 Explore More on Our Website 👉 myersjackson.com
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If I Scratch My Nose, Stretch, or Wave at a Friend, Will the Auctioneer Think I’m Bidding?
This is a common concern for first-time auction attendees. With the fast pace and excitement of an auction, you might wonder if small gestures like scratching your nose, stretching, or waving to a friend could accidentally place a bid.
The short answer: It’s possible, but unlikely.
Professional auctioneers are highly trained to recognize real bids. While they are skilled at spotting interest in the crowd, they also know to confirm intent before recording a bid. Auctioneers usually look for clear signals such as raised bid cards, hand gestures, or eye contact. If they’re unsure, they may confirm with you before accepting the bid.
That said, if you’re attending your first auction, it’s always best to:
Use deliberate signals when you want to bid.
Hold up your bidder card or raise your hand clearly.
Avoid casual gestures in the middle of active bidding.
By doing so, you’ll enjoy the experience without any confusion and only place bids when you mean to!
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❓Ever heard of a Buyer's Premium? Let’s break it down 👇
It’s the auctioneer’s fee, and yes—the buyer pays it, not the seller. We don’t hide it. It’s in the terms, in the ad, and announced upfront. ✅ No surprises. No fine print. Just straight talk.
Like, share, comment, and follow 🔔 Don’t forget to subscribe to our YouTube channel for more real estate words, definitions and auction tips! 👉https://www.youtube.com/@myersjackson411 Visit Website👉https://myersjackson.com/
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Does It Cost Anything to Register or Attend the Auction?
When people hear about auctions whether real estate, personal property, or online they often wonder if there’s a catch. A common question is: Does it cost anything to register or attend the auction? The answer is usually straightforward, but it’s always important to understand the details before you attend.
Registration and Attendance Fees
In most cases, auctions do not charge a fee simply to attend. Auction houses and organizers want as many interested bidders as possible because competition typically drives higher bids. This means you can usually walk into an auction (or log in online) without paying an upfront attendance fee.
That being said, some auctions, particularly specialized or high-value ones may require some form of verification before you can bid. For example, luxury property auctions or high-end art auctions sometimes require proof of funds or even a refundable deposit to ensure that only serious bidders participate.
The Role of Verification
While most auctions don’t have a direct cost to attend, they do often include a verification process. This ensures that bidders are legitimate and that the auction runs smoothly. Verification may involve:
Government-issued ID – Standard across most auctions.
Minimal credit card charge – Some auctions place a small, temporary charge (usually refundable) to verify your identity and card authenticity.
Proof of funds – Required at certain real estate or high-value item auctions.
This process not only protects the auctioneer but also creates a fair environment for all participants.
Online Auction Considerations
If you’re bidding online, the process is similar but digital. You’ll typically create an account with the auction platform, provide your identification details, and sometimes place a card on file. Again, while you may not be paying an entry fee, you could see a small verification charge that is later reversed.
Terms and Conditions Matter
Every auction is slightly different, which is why it’s crucial to read the Terms and Conditions of the specific event. These documents outline exactly what you need to bring, whether deposits are required, and how registration works. For example:
Some real estate auctions may require an earnest money deposit before bidding.
Certain equipment or vehicle auctions might require a bidder’s deposit that is applied toward your final purchase if you win.
General property auctions may have no cost at all for registration.
Final Thoughts
For the majority of auctions, registering and attending is free. However, you should always check the Terms and Conditions of the specific event you’re interested in. Bring your government-issued ID, be prepared for possible verification, and make sure you understand any refundable deposits or special requirements.
By knowing the rules ahead of time, you’ll save yourself surprises and ensure a smooth experience when the bidding starts.
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Today's Word: Expectations 🏠 Auction buyers, do your homework! Properties sell as is—no surprises after the gavel drops.
✅ Read the terms ✅ Ask questions ✅ Book inspections
Meet your own expectations—and you might just win big. Got questions? Ask me
Like, share, comment, and follow 🔔 Don’t forget to subscribe to our YouTube channel for more real estate words, definitions and auction tips! 👉https://www.youtube.com/@myersjackson411 Visit Website👉https://myersjackson.com/
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What Time Do Auctions Start?
The start time of an auction depends on the type of property being sold and the format of the event. While there are some common patterns, every auction company sets its own schedule, which is why checking the official event listing is essential.
In-Person Real Estate Auctions
Many live, on-site real estate auctions begin around 11:00 a.m. This timing allows bidders to arrive, register, and review the property before the sale begins. It also provides enough daylight for on-site inspections, especially for properties in rural or expansive locations.
Personal Property Auctions
Auctions for personal property such as vehicles, equipment, art, or collectibles may start at different times depending on the venue and number of lots. Morning or early afternoon starts are common, but some events may run into the evening, particularly for high-volume sales.
Online Auctions
Online auctions work differently. Instead of a single start time, they have an opening date and time when bidding begins and a closing date and time when bidding ends. Many online auctions use a “soft close” feature, meaning that if a bid comes in right before the end, the closing time extends slightly to allow other bidders to respond.
Where to Find the Official Start Time?
The Schedule of Events published by the auctioneer will always dictate the official start. This document or webpage will include exact times for registration, preview, and bidding whether in-person or online.
While real estate auctions often start at 11 a.m., other auctions vary widely. Always confirm the schedule in advance so you can arrive or log in with plenty of time to participate.
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Before you bid at auction, know this: you're buying subject to whoever's in possession. Could be the seller, tenants, family — or even squatters.
📜 Disclosures will tell you if someone's living there and if there's a lease in place. No surprises — just read the fine print and know what you're getting into.
💡 Not legal advice — just solid auctioneer wisdom.
🎯 Master real estate terms with Auction Words by Myers Jackson!
🔔 Like, Comment & Subscribe for more tips!
👉https://www.youtube.com/@myersjackson411
Visit Website👉https://myersjackson.com/
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A loan officer with a master’s in economics help people finance homes and make smarter decisions based on the real market.
Like, share, comment, and follow 🔔 Don’t forget to subscribe to our YouTube channel for more real estate words, definitions and auction tips! 👉https://www.youtube.com/@myersjackson411 Visit Website👉https://myersjackson.com/
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Millionaires aren’t stubborn or quick to quit. They test, adapt, and stay committed. They don’t stop when it’s messy — they stop when it works. Progress is the addiction."
Like, share, comment, and follow 🔔 Don’t forget to subscribe to our YouTube channel for more real estate words, definitions and auction tips! 👉https://www.youtube.com/@myersjackson411 Visit Website👉https://myersjackson.com/
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Before bidding at your next real estate auction, understand the CHAIN OF TITLE . It’s the official record of who owned a property — from the very first owner to the current one.
📚 Each owner is listed in order, like chapters in a book 🏡 Also called "provenance" in real estate
Like, share, comment, and follow 🔔
Don’t forget to subscribe to our YouTube channel for more real estatewords, definitions and auction tips!
👉https://www.youtube.com/@myersjackson411
Visit Website👉https://myersjackson.com/
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Are Auctions Only for Distressed or Discounted Properties?
A common misconception about auctions is that they are reserved for distressed or deeply discounted properties. While auctions are sometimes used in foreclosure or liquidation situations, they are far from being limited to those scenarios. In reality, auctions attract a wide variety of sellers and property types from modest residential homes to multi-million-dollar luxury estates.
Diverse Property Types
Auctions can feature:
Private residences – Homes sold directly by individual owners
Luxury properties – High-end estates, vacation homes, and unique architectural designs
Land and ranches – Agricultural, recreational, or development tracts
Farm properties – Including agricultural operations, equipment, and outbuildings
Corporate holdings – Businesses selling real estate or surplus assets
Estate sales – Properties passed down or managed through probate
This diversity means auctions are not confined to financially distressed sales; they're simply another method of marketing and selling real estate.
Why Sellers Choose Auctions?
Sellers often choose auctions for speed, transparency, and competitive bidding. In many cases, an auction can create urgency among buyers, leading to strong offers in a short timeframe.
Why Buyers Should Pay Attention?
Because auctions aren’t exclusively for distressed properties, buyers can find opportunities across all price ranges. Whether you’re looking for a primary residence, investment property, or vacation home, auctions provide access to properties you might not encounter through traditional listings.
Auctions are a versatile sales method, not a niche market for distressed deals. They serve a broad spectrum of sellers and buyers, offering opportunities in every category of real estate from budget-friendly finds to premium luxury estates.
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💼 Ever heard of the Wolf of Wall Street? He’s famous for one thing: “Sell me this pen.” 🖊️
We put our own spin on it—turned a simple pen into a full-on bidding war. From $5 ➝ $80, just like that. 🔥
👉 Lesson? It’s not about the pen. It’s about the story, the value, and the way you make people want it.
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