Property information from the professionals

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Property Auctioneering

The sale by auction of property is an extension of the role of the estate agent and is an essential element of the advice and guidance which the agent provides to clients when discussing the disposal. Many firms of estate agents do not undertake property auctions themselves, but in most regions there are firms who offer this specialised service to those wishing to sell.

For many the lasting impression of the auctioneer will have been formed by a fleeting visit to a general salesroom or a livestock market or from a clip on television. Those who have become auctioneers have discovered that the challenge of organising and masterminding an auction sale is not only highly rewarding for the auctioneer but also, and more importantly, for the vendor client.

Today it might be thought that a relatively low volume of property is sold under the auctioneer’s gavel, but a substantial and steadily increasing number of homes, commercial, industrial and investment lots are routinely sold by auction today. This trend has shown a steady upward growth over the last two decades and bodes well for the property auctioneer and those seeking a career in this sector of the market.

The Property Auctioneer

As an auctioneer you will be asked to advise on the disposal of a wide range of property. The first task is to decide whether or not that particular lot is a suitable subject to offer under the gavel and at the same time to explain in detail to the seller the complete process of auction. This involves not only a detailed knowledge of the market place but also the law procedure and process. These remain the same wherever the sale is held, although auction sales and their size and style vary widely from one part of the country to another.

Once a sound and competent reputation has been established, an auctioneer will quickly discover that they become very much in demand. For those seeking a career in estate agency the ability to conduct property auctions will be an excellent expertise to add to their C.V. when seeking a new post or advancement in their organisation.

Qualifications and training

Essentially the first step to becoming a competent auctioneer is to complete your training as an estate agent. This will include reference to auctions as a method of the sale of property, but it will stop short of detailed knowledge and training of the role of the auctioneer.

Academic qualifications are not essential. What is essential is an outgoing personality, the ability to communicate – which includes listening to everyone around one and excellent organisational skills.

The NAEA is unique in offering a comprehensive course including whole day workshops for property auctioneers. Delegates must be competent practising estate agents.

Estate agency is becoming a recognised profession in its own right. A professional estate agent will have a bank of skills, experience and knowledge learned over years of hard work and will also have a rewarding and varied career.

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