Auction Accreditation

The Property, Stock and Business Agents Act 2002 states that auctions can only be conducted by the holder of a real estate agents licence, who has been accredited as an auctioneer.

This means that for a real estate agent to be accredited to act as an auctioneer, competence must be demonstrated in:

PRDRE26A Conduct property sale by auction

RETS is offering residential auctioneers the chance to become accredited in this unit, through the process of Recognition of Current Competency (RCC) and/or Recognition of Prior Learning (RPL).

Benefits:

  • Fulfils necessary Office of Fair Trading requirements
  • Recognises and rewards your current skill level
  • Time effective – you can complete it in your own time (via correspondence), when convenient to you
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On successful completion you will receive a Statement of Attainment for this unit, which is part of the Property Development & Management Training Package (PRD01).

You will be provided with an easy to understand RPL/RCC Kit which explains the process and guides you as to the information you will need to show competence. RETS Licensed Real Estate Agent and assessor will be available to provide any assistance or guidance.

Cost for RPL/RCC Assessment: $355 (incl. GST)

When assessing this unit for competence assessors will be comparing your information to the below criteria:

PRDRE26A – Conduct property sale by auction

This unit covers the preparation, conduct and completion of the sale of property by auction. It includes administration, advertising, pre-auction communication and conduct of the auction.

 Element

Performance Criteria 

 1 . Prepare for auction sale               

1.1 Auction marketing procedures, which may include prepayment of promotion, advertising costs and related administrative expenses, location and auction day procedures, are agreed in advance with vendor

1.2 Auction documentation that is consistent with vendor's instructions and marketing plan is used to manage the auction program

1.3 Appropriate and reliable descriptions of the subject property are provided before and during the auction

 2. Conduct auction

2.1 Questions asked by interested parties are answered or referred to informed sources

2.2 The auction is professionally conducted to establish the optimum price possible from the buyers in attendance, consistent with the auction strategy

2.3 The auction is conducted in a manner consistent with the agency marketing strategy and property sales legislation

 3. Complete auction sale

3.1 Accurate sales data is compiled which reflects auction outcomes and can be used in follow-up procedures

3.2 Appropriate records of attendance or interest are compiled to expand agency contact lists of potential clients identified through the auction process

Still have some questions? Contact RETS.

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