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Evidence Guide: CPPREP4162 - Conduct and complete sale by auction

Student: __________________________________________________

Signature: _________________________________________________

Tips for gathering evidence to demonstrate your skills

The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!

From the Wiki University

 

CPPREP4162 - Conduct and complete sale by auction

What evidence can you provide to prove your understanding of each of the following citeria?

Open auction.

  1. Read out terms and conditions of sale by auction according to legislative requirements
  2. Identify property and vendor in relation to the contract.
  3. Respond to questions from potential bidders and other parties.
  4. Submit property for sale by auction and call for opening bids.
Read out terms and conditions of sale by auction according to legislative requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify property and vendor in relation to the contract.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Respond to questions from potential bidders and other parties.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Submit property for sale by auction and call for opening bids.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Complete auction.

  1. Signify close of auction using appropriate strategy such as final calls, fall of hammer and closing script.
  2. Knock down property to successful bidder once reserve price has been met and all other bids are exhausted.
  3. Pass in property if reserve price is not met and all bids are exhausted.
  4. Offer highest bidder opportunity to negotiate with vendor when property fails to reach reserve price.
  5. Obtain feedback on auction from vendors and colleagues.
Signify close of auction using appropriate strategy such as final calls, fall of hammer and closing script.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Knock down property to successful bidder once reserve price has been met and all other bids are exhausted.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Pass in property if reserve price is not met and all bids are exhausted.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Offer highest bidder opportunity to negotiate with vendor when property fails to reach reserve price.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Obtain feedback on auction from vendors and colleagues.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Confirm pre-auction terms, conditions and presentation.

  1. Assess suitability of auction site and auction equipment and identify risks to self and others.
Assess suitability of auction site and auction equipment and identify risks to self and others.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Confirm required auction advice is displayed according legislative requirements.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review auction documentation and examine major points including auction instructions, authorities, contracts, reserve price, co-owner and vendor bids.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Confirm number of registered bidders, online bidding and bidding by authority according to legislative requirements.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Liaise with vendor or sales agent for final instructions.

  1. Read out terms and conditions of sale by auction according to legislative requirements
Read out terms and conditions of sale by auction according to legislative requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify property and vendor in relation to the contract.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Respond to questions from potential bidders and other parties.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Submit property for sale by auction and call for opening bids.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Manage auction to maintain flow.

  1. Conduct the auction according to legislative requirements.
Conduct the auction according to legislative requirements.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Manage bidding process and maintain auction process to achieve reserve price.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Seek instructions from vendor or sales agent for vendor bids or to change reserve.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Implement trial close strategy.

  1. Signify close of auction using appropriate strategy such as final calls, fall of hammer and closing script.
Signify close of auction using appropriate strategy such as final calls, fall of hammer and closing script.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Knock down property to successful bidder once reserve price has been met and all other bids are exhausted.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Pass in property if reserve price is not met and all bids are exhausted.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Offer highest bidder opportunity to negotiate with vendor when property fails to reach reserve price.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Obtain feedback on auction from vendors and colleagues.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Required Skills and Knowledge