Nail Your Next Auction - The Ultimate Real Estate Checklist

Checklist for Conducting Real Estate Auction

1. Eligibility for Conducting an Auction

  • Ensure the auctioneer is one of the following:
    • An estate agent
    • An agent’s representative
    • An accredited auctioneer (approved between February 1994 and February 1995)
  • Verify if the owner or part-owner is auctioning their own property

2. Auctioneer’s Responsibilities

  • Adhere to the Sale of Land Act 1962 and the Sale of Land (Public Auctions) Regulations 2014
  • Display information and make announcements before starting the auction
  • Control bidding during the auction
  • Make bids on behalf of a seller to advance bidding (if applicable)
  • Accept bids from co-owners or their representatives who are genuinely bidding

3. Prohibited Actions for Auctioneers

  • Do not accept bids by or for a seller, except for co-owners
  • Avoid making or accepting fictitious (dummy) bids
  • Refrain from accepting late bids after the property is knocked down to the winner

4. Displaying Information

  • Display for at least 30 minutes before the auction:
    • Auction rules
    • Prescribed information statement
    • Any other relevant conditions (e.g., contract of sale conditions)
  • Select and display the appropriate rules from the Sale of Land (Public Auctions) Regulations 2014


:rotating_light: You are missing out if you haven’t yet subscribed to our YouTube channel.

5. Mandatory Announcements

  • Announce general rules before bidding starts:
    • Auction conduct rules
    • Prohibition of late bids
    • Bidders’ identification upon request
    • Laws and fines regarding false bids, disruptions, and bid prevention
  • Announce specific rules depending on the auction:
    • Prohibitions or permissions for vendor bids
    • Co-owners’ bidding rights and number of bidding co-owners

6. Controlling the Auction

  • Set bidding amounts
  • Refuse any bid when necessary
  • Refer bids to the seller
  • Withdraw the property from sale or restart bidding if required

7. Handling Late Bids

  • Do not accept late bids post-auction
  • Do not refer late bids to the auctioneer, seller, or others
  • In case of post-auction private sale, refer late bids to the seller
  • Pass on all offers unless instructed otherwise by the seller

8. Passing in a Property

  • If passed in below reserve price, negotiate first with the highest bidder
  • Decide on accepting late bids after negotiation with the highest bidder

9. Post-Auction Protocols

  • If passed in on a vendor bid, clearly state it in all subsequent advertising or marketing
  • Ensure publishers printing the last bid amount are informed of the vendor bid status


Make It Real

:point_right: Start Your Journey Today!