Property Auction Preparation in Real Estate

Course overview

This course imparts the essential skills and knowledge needed to undertake pre-auction processes. Participants will learn to prepare a comprehensive auction strategy, which includes liaising with the vendor or sales agent, confirming contract details, and verifying property specifics.

1: Review Contract Details

• Access, Read and Interpret Contract Documentation
• Determine Currency of Contract to Identify Any Changes to Contract
• Confirm Role of External Parties
• Interpret Terms of Contract and Matters that Affect the Title

2: Identify and Document Property Details

• Identify Key Features of Property from Property Report, Marketing Plan and Materials
• Analyse Features of Location, Facilities and Aspect to Ascertain Selling Features
• Identify Matters Impacting on Property for Disclosure Purposes

3: Confirm Vendor Expectations

• Liaise with Sales Agent or Vendor to Confirm Auction Process
• Confirm Vendor’s Price Expectations
• Analyse Market Indicator Data to Identify Likely Interest Levels and Expected Price Range
• and Compare to Vendor Expectations
• Identify and Evaluate Details of Expressions of Interest or Offers Made Pre-Auction

4: Prepare Auction Day Strategy

• Plan Information for Opening the Auction Adhering to Legislative Requirements
• Collate Information About the Property
• Prepare Script to Explain Key Features of the Contract and Role of External Agencies
• Develop Contingency Plans for Matters that May Arise During the Auction
• Prepare Order of Sale for Multiple Properties at an In-Room Auction

Who should attend?

Ideal for those working in auctions.

Inclusions

Certificate of Completion.

CPD Type 1, OFT approved number QLDCPD20250046