Unit of competency Outline

Date retreived
22/07/2026 9:52 AM AWST

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Conduct and complete sale by auction

Conduct and complete sale by auction

Unit of competency
National Code
CPPREP4162
State Code
OAQ87
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
21/03/2019
View on TGA
State Implementation and Classification
Approved Date
03/06/2020
Field of Education
080599 - Sales And Marketing, N.e.c.
Original Release Date
03/06/2020
Nominal Hours
25
Description
This unit specifies the skills and knowledge required to conduct an auction of property. It includes accessing, interpreting and applying written instructions for the auction, calling an auction and completing the auction process, including when a property is sold and when a property is passed in.The unit applies to auctioneers or people seeking to work as auctioneers. State or territory licensing requirements may apply to this unit.
Notes
Elements and Performance Criteria
1 Confirm pre-auction terms, conditions and presentation.
  • 1.1 Assess suitability of auction site and auction equipment and identify risks to self and others.
  • 1.2 Confirm required auction advice is displayed according legislative requirements.
  • 1.3 Review auction documentation and examine major points including auction instructions, authorities, contracts, reserve price, co-owner and vendor bids.
  • 1.4 Confirm number of registered bidders, online bidding and bidding by authority according to legislative requirements.
  • 1.5 Liaise with vendor or sales agent for final instructions.
2 Open auction.
  • 2.1 Read out terms and conditions of sale by auction according to legislative requirements
  • 2.2 Identify property and vendor in relation to the contract.
  • 2.3 Respond to questions from potential bidders and other parties.
  • 2.4 Submit property for sale by auction and call for opening bids.
3 Manage auction to maintain flow.
  • 3.1 Conduct the auction according to legislative requirements.
  • 3.2 Manage bidding process and maintain auction process to achieve reserve price.
  • 3.3 Seek instructions from vendor or sales agent for vendor bids or to change reserve.
  • 3.4 Implement trial close strategy.
4 Complete auction.
  • 4.1 Signify close of auction using appropriate strategy such as final calls, fall of hammer and closing script.
  • 4.2 Knock down property to successful bidder once reserve price has been met and all other bids are exhausted.
  • 4.3 Pass in property if reserve price is not met and all bids are exhausted.
  • 4.4 Offer highest bidder opportunity to negotiate with vendor when property fails to reach reserve price.
  • 4.5 Obtain feedback on auction from vendors and colleagues.
No information
No information
Replaces
State Code National Code Title Type
D1249 CPPDSM4004A Conduct auction Unit of competency
D1264 CPPDSM4019A Prepare for auction and complete sale Unit of competency
State Code National Code Title Type
AD910 CPPSS00068 Auctioneering Skill set
BEH9 CPP41419 Certificate IV in Real Estate Practice Qualification