Become a Real Estate Auctioneer
The process by which you become a real estate auctioneer is highly variable. To get started, do some research regarding the requirements to gain work as a real estate auctioneer in your area. You will likely be required to possess an auctioneer’s license, a real estate license, or both. Both the auctioneer’s license and the real estate license require intensive study and significant work experience. After completing the licensing requirements, you can auction real estate.
Obtaining an Auctioneer’s License
- Identify the sort of license you need. In many areas, there are more than one sort of auctioneer’s license. For instance, your jurisdiction might offer auctioneer’s licenses, auction clerk licenses, and auction house licenses. Before you can become a real estate auctioneer, you’ll need to correctly identify the exact sort of license necessary to become a real estate auctioneer.
- The best way to identify the right license for you is to check your local auctioneers licensing board site or to contact your local auctioneers licensing board office.
- Failure to identify the right sort of license could lead you to obtain a license that will not allow you to become a real estate auctioneer.
- Find out what the requirements are for getting your license. Once you know what license you need, find out how to get it. The best way to discover the requirements for obtaining the auctioneer’s license you need is to check the board of auctioneers site. If you cannot find the list of criteria online, contact the local auctioneers authority directly and ask for a list of criteria necessary to obtain the license.
- Meet the educational requirements. In most jurisdictions, you’ll need to receive some specialty training at an auctioneering academy or college in order to become an auctioneer. If possible, take classes at an education institute that specializes or offers courses in becoming a real estate auctioneer.
- The number of credit hours and the specific content of the educational requirements will vary from place to place.
- In the course of receiving your educational requirements, you will learn how to call bids, start an auction business, and market your services.
- Apprentice with an auctioneer. Once you’ve met the educational requirements, you will need to put your training to practical use by working under an experienced auctioneer. Find an auctioneer willing to train you by contacting your local auctioneers licensing board or your national auctioneers association. You may also be able to contact a licensed auctioneer directly if you wish to train under a particular individual.
- The amount of time you need to apprentice under another auctioneer varies from place to place. You might need to be an apprentice for up to two years or more.
- As an apprentice, you will have hands-on experience selling items at auction.
- If possible, spend your apprenticeship under an auctioneer who specializes in real estate auctions.
- Take the auctioneers exam. Before you can get your license, you’ll likely need to take a written exam in order to test your knowledge of auctioneering process and practice. Contact the government body that administers auctioneers exams in your locality to schedule the exam.
- After you’ve scheduled the exam, ask the administering authority (typically the board of auctioneers) how you can best study for the exam. Many jurisdictions offer study guides online in order to help exam-takers review for the exam.
- Review as much exam study material as possible in the days and weeks leading up to the test.
- Along with the exam, you will often have to submit an exam fee. This fee typically ranges from $75 to $150.
- Complete the auctioneer’s license application. After passing the exam, you’ll be able to apply for your auctioneer’s license. The application will typically require transcripts from your educational institution, a statement of endorsement from the auctioneer under whom you apprenticed, and identification information like your name, phone number, and so on.
- You can typically obtain the auctioneer’s license application from your local board of auctioneers. Contact them directly if you cannot locate it online.
- Provide proof of identity. Along with your application, you’ll likely need to include some form of identification. Acceptable forms of identification vary from place to place, but you can typically use a passport-sized photo, a birth certificate, another government-issued ID or permit, a public utility bill, a bank account statement, or a passport.
- Pay the processing fee. The processing fee is typically sent into your local board of auctioneers along with your exam. You will likely need to write a check or money order. The fee is highly variable and depends on where you obtain your auctioneer’s license, but you should expect to pay from $100 to $150.
Obtaining a Real Estate License
- Find out what license you need. Not all real estate licenses will enable you to become a real estate auctioneer. For instance, in some localities, you will be able to work as a real estate auctioneer if you have a real estate broker’s license but will not be able to work as a real estate auctioneer if you have a real estate salesperson’s license. To determine which license you need (if any), contact your local auctioneers licensing board.
- Identify the criteria you need to meet. The process by which you can identify how to obtain your real estate license varies from place to place. Generally, however, the information should be available online through your local government’s real estate authority.
- If you cannot find a list of the criteria you need to meet in order to obtain a real estate license online, contact your local real estate licensing authority directly. Ask the real estate licensing authority for a list of the criteria necessary to obtain a real estate license.
- Meet the criteria for obtaining the license. Once you’ve identified the criteria you’ll need to meet, you will have to meet it. While the requirements vary from place to place, standard criterion for licensing include:
- being 18 or older
- meeting the educational standards
- having a clean criminal record
- having relevant work experience
- Obtain the appropriate educational requirements. The specific degrees that qualify as acceptable in your locality depend on your local real estate licensing laws. You will often need to take at least 90 hours or more of classroom lectures, and in some jurisdictions you will need a two or four-year degree.
- Courses that contribute to the educational requirements often cover a broad array of relevant subjects, including business, finance, real estate appraisal, real estate law, management, and accounting.
- To identify the degree or degrees that qualify you as an acceptable candidate for licensure, contact your local real estate licensing authority.
- Obtain relevant work experience. There is some variation from place to place regarding what qualifies as relevant work experience. Typically, however, relevant work experience is defined as experience in real estate (for instance, working in a broker’s office as an accountant or salesperson).
- The length of time considered necessary to have obtained relevant work experience also varies depending on where you are applying for your license. In some places, two years is considered enough, while in others, you’ll need even more relevant work experience.
- In some localities, it might be possible to substitute work experience for additional educational credentials.
- Take the real estate licensing exam. After gaining a relevant education and obtaining practical experience in the real estate field, you will need to pass the real estate licensing exam. The exam will test your knowledge about real estate sales and business practices. The exact content of the test will vary depending on your locality.
- Find out more about what sorts of questions you might see on the exam by contacting your local real estate licensing board.
- Many real estate licensing boards provide sample tests or study materials online. Take advantage of these materials if they exist.
- Use your performance on sample tests and your knowledge of the material in study guides to identify areas of real estate sales about which you need to learn more. Focus on these areas in your study sessions.
- Submit your application. After passing the real estate licensing exam, you can finally submit your application for the license itself. The application to apply for a real estate license should be available online through your regional real estate licensing authority website.
- Along with the application, you may need to submit supporting documentation demonstrating your educational attainment, work experience, and identification. For instance, you might need to submit a passport, a letter of recommendation or support from a licensed real estate broker, your academic transcripts, several months of bank statements, and/or a government-issued photo ID.
- Pay the relevant fees. These fees typically total about $150. This should cover the license fee, the background check fee, and an application processing fee. Contact the real estate licensing authority in your area for information regarding the cost of the licensing fee and the methods of payment they accept.
- If you submit the application in person, you can probably pay the fee in person. If you mail the real estate licensing application in, you will probably have to include payment along with your application.
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