Elements and Performance Criteria
- Implement auction marketing plan.
- Agreement to auction is obtained from seller according to agency practice and legislative requirements.
- Auction marketing plan is confirmed with seller in line with agency practice, ethical standards and legislative requirements.
- Descriptions of property to be auctioned are prepared for use before and during auction.
- Auction marketing plan, including inspections, open houses and relevant security arrangements, is implemented in line with agency practice, ethical standards and legislative requirements.
- Marketing is monitored on a regular basis to establish effectiveness of marketing plan.
- Enquiries from prospective buyers and other interested parties are addressed and where required copies of relevant documentation are provided.
- Offers from prospective buyers prior to auction are referred to owner in line with agency practice and legislative requirements.
- Regular reports on auction marketing are communicated to seller.
- Prepare auction documentation.
- Purpose and content of auction documentation are explained to seller.
- Auction documentation is prepared in a manner consistent with seller instructions, marketing plan used to manage the auction program, agency practice, ethical standards and legislative requirements.
- Assisting professionals are followed up in a timely manner to ensure that auction documentation is completed prior to auction date.
- Plan auction day procedures.
- Auction day procedures are confirmed with seller in line with agency practice, ethical standards and legislative requirements.
- Property is inspected by auctioneer prior to auction day according to agency practice and legislative requirements.
- Reserve price is confirmed with seller in line with agency practice, ethical standards and legislative requirements.
- Staff, equipment, promotional materials and other requirements for auction are identified and arrangements are made to ensure their availability on auction day.
- Implement auction day procedures.
- Auction area is prepared, including deployment of staff, and promotional materials and equipment consistent with agency practice.
- Auction documentation is prominently displayed consistent with agency practice and relevant legislation.
- Property inspection is facilitated on auction day prior to the commencement of the auction.
- Questions from interested parties are answered or referred to informed sources in line with agency practice and ethical standards.
- Auction day procedures are implemented in line with agency practice and legislative requirements.
- Complete follow-up procedures after auction sale.
- Follow-up procedures are implemented if property is sold in line with agency practice, ethical standards and legislative requirements.
- Sales documentation is accurately completed in line with agency practice and legislative requirements.
- Follow-up procedures are implemented if property is passed in consistent with agency practice, ethical standards and legislative requirements.
- Accurate sales data is compiled that reflects auction outcomes for use in follow-up procedures.
- Appropriate records of attendance or interest are compiled to expand agency contact lists of potential clients identified through the auction process.
- Publication of auction results and post-auction information is arranged in line with agency practice and legislative requirements.