This is a subscriber-only article
With over 4,600 licenced auctioneers in Ireland, it is a competitive and often lucrative industry. With competition high among auctioneers, it can be a tough sector and being entrusted with assets to sell can make this industry highly pressurised. This environment, however, can appeal to some. But how does one become an auctioneer?
Two avenues
Well there are two avenues open. The first is the grandfathering route. If you were previously employed as an auctioneer you would need three years of experience vouched by a licenced auctioneer prior to July 2012, if you applied for a licence again. This experience would have had to be completed with a licenced auctioneer prior to July 2012. This is due to regulatory changes in 2011.
The Property Service Regulatory Act 2011 changed the way licences were granted and now ensures that those entering the industry have a certain level of education and experience before they are issued with a licence.
The second avenue, and the most likely for a new graduate, is the educational route. The minimum educational requirement to become an auctioneer is a Level 6 qualification, including seven core subjects. The subjects taken form a part of a matrix that best suits the auctioneering business. These seven core subjects include: marketing, economics, law, property management, building construction, business studies and valuation.
ECTS
To graduate (without getting too technical) students will have to obtain 120 ECTS*, with each subject taken carrying respective ECTS credits.
In total, each year approximately 150 students take these courses. Institutes such as the Institute of Professional Auctioneers and Valuers (IPAV), which is a representative professional body for qualified, licensed auctioneers, valuers and estate agents throughout Ireland, is to the forefront in representing those going into the industry and provides information in doing so.
Interested students are urged to look up the licensing Authority of the PSRA, which is the regulatory body for property professionals in the Republic of Ireland. CL
Name: Clive Kavanagh.
Company: Jordan Town and Country Estates Agents.
I started working at Jordan Auctioneers in 2003, which is a mixed practice in Newbridge, Co Kildare. Prior to that I studied property economics and also did a master’s in town planning. We deal primarily in country homes and land, but also have a substantial residential and commercial setup, have done a lot of CPOs and a few machinery clearance sales.
Jordan Auctioneers employs six agents as well as support staff, with two working in residential, two in land and country homes, and two more in commercial.
There have been huge fluctuations between the peaks and troughs of the boom and the recession. In general, we fared pretty well through the bad times, although we had to thin out on staff. It was agricultural land that kept us going. We were also well established and trusted, so people continued to trade with us.
I’d definitely recommend this career, there are lots of different avenues to go down, plenty of opportunities. Having an agricultural background is beneficial to going down the country agent road, as it gives you a good understanding of the business.
To anyone starting off – it has to be something you’re interested in and I’d advise that unless you know what you’re after, you should try to get involved with some of the bigger firms to get experience.
One of the biggest challenges of the job is to try and keep generating business and to stay in the public domain.
The best part of the job is getting instructions to sell property and getting good results for the customer, as well as getting out of the office to meet people.
SHARING OPTIONS: