So you think you can auction !!!

Rosy Sullivan

So many agents tell us that they think they would be an “awesome” auctioneer.  I often ask them why they have this belief about their own abilities.  Many of the responses I get relate to the ability to talk about nothing for extended periods of time.  We think that perhaps there are a few more skills required than just being able to talk……..but it is certainly a core skill.


 


Property auctioneers come in all shapes and sizes and varying voice tones.  Our College trains agents in both the practical side of being an auctioneer including the voice requirements, combined most importantly with the compliance requirements under the Property, Stock and Business Agents Act 2002.  Even those sales agents who do not actually become accredited auctioneers, but organise the auction process for a vendor, must be aware of their compliance requirements. 


 


In summary, when selling a property via the auction process, the requirements for an agent on auction day, include:


  • Registering all people who wish to bid
  • Keep a bidders record for each registered bidder, including a record of the proof of identity provided by each registered bidder
  • Provide a copy of the Bidder’s Guide (provided by NSW Fair Trading) to every registered bidder
  • Ensure that no collusive practices are being undertaken throughout the auction process
  • Gather detailed information about the successful bidder

 


The auctioneer must be aware of the following issues:


  • Display the auction conditions of sale in a visible manner
  • Only making one bid on behalf of the vendor
  • Only taking bids from registered bidders
  • Ensure that no collusive practices are being undertaken throughout the auction process
  • Do not misrepresent the quality, value, composition, structure or character of the property

 


The auctioneer has all authority on auction day and is in charge of the overall process.  They must ensure that the compliance requirements are met and also that they “perform” in such a way as to obtain a positive outcome for the vendor.


I was contacted recently by one of the colourful real estate agents in our industry, Edwin Almeida, the owner and licensee-in-charge of Just Think Real Estate Sydney.  Edwin has committed himself and his agency to raise $100,000 in 100 days to support the Westmead Medical Research Foundation (WMRF).  It is known as the 100k100d challenge and you may have already read about it on social media outlets.  WMRF funds research and health care at Westmead Hospital and through 100k100d they will be able to support researchers in cancer and rare diseases. 


 


Westmead and Cancer Research are both emotional trigger points for our College and in particular the Sullivan family, and Edwin is one of my favourite people that I write about in these newsletters (although I never mention his name).  With such close connections, we at the College had no choice but to get on board with Edwin and support his challenge.


 


As part of the fundraising, Edwin has organised an auction competition – hence the reason for this week’s newsletter topic.  On the 16th and 17th August 2013, the search for Australia’s Premier Auctioneer will take place.  The competition will run over both days with a total prize pool of $17,500.  The finalists will auction items during the gala dinner being held on the Saturday evening at the Parramatta Crown Plaza.


 


So……….how do you participate I hear you all asking.


 


To participate in the competition, you can either register at


http://premierauctioneerscompetition.eve...    


 


OR


 


You can come to the dinner on the Saturday evening to watch the finalists and enjoy an evening of fun and fundraising.   Stay tuned for more information about the evening and how to purchase tickets.


 


Auctioneering is a process at the very heart of our industry, and it will be a great occasion to celebrate the most talented of our professionals.  Whether you are an accredited auctioneer or just someone who “thinks you have what it takes”, I encourage you to join the competition and have some fun and in the process, we can all participate in raising funds for such a worthwhile cause.


http://www.acop.edu.au/docs/Auctioneer_A...