National Occupational Certificate: Auctioneer

Purpose

The purpose of this qualification is to prepare a learner to function as an Auctioneer.

An Auctioneer conducts transparent and fair sales of movable and immovable assets by accepting offers from buyers (the Public) and accepting the highest purchase price to realise the best sales value for the seller. Attributes for the auctioneer amongst others should include communication skills, writing skills, research skills, financial skills and information and communication technology (ICT).

A qualified learner will be able to

• Secure a mandate to sell an asset.
• Assess and determine the value of the asset for auctioning.
• Conduct marketing to auction an asset.
• Facilitate acceptance of bids and disposal of auction assets.
• Administer and reconcile the sale of assets.

Rationale

The property sector is a multi-billion-rand economic activity which requires professionals who are well-trained and knowledgeable to meet the needs of both the movable and non-movable properties subsector. This qualification strives to equip learners to operate effectively and efficiently in the auctioneering subsector as well as ensuring protection of the consumer as required by consumer protection legislation.

The auctioneering practice, as part of the property sector is well-established and regulated, thus has many learners that would benefit from qualifications aligned to career paths. This means there is a need to develop career paths, as the industry is constantly in need of skilled people. The scope of auctioneering is changing and evolving all the time, with new opportunities for the auctioneer arising with sectoral transformation and new markets in areas historically neglected by the sector.

It will therefore ensure that the quality of education and training in the industry is enhanced and of a comparable standard to qualifications in other sectors in South Africa, and similar qualifications internationally. The society shall benefit the proper disposal process and value on assets that could have been lost.

Typical learners for the qualification will be persons already employed in the industry, providing support service to auctioneers and new entrants interested in the field. The qualification will provide an opportunity for existing and qualified auctioneers to move into estate agency practice within the property development sector. Growth is possible within various higher responsibilities in the auctioneering field, valuation, and estate agency. The qualification was developed in collaboration with the auctioneering industry.

- RPL for access to the external integrated summative assessment

Accredited providers and approved workplaces must apply the internal assessment criteria specified in the related curriculum document to establish and confirm prior learning. Accredited providers and workplaces must confirm prior learning by issuing a statement of results or by certifying a work experience record.

- RPL for access to the qualification

Accredited providers and approved workplaces may recognise prior learning against the relevant access requirements.

Entry Requirements

• Any NQF Level 3 qualification.

This National Occupational Certificate qualification is made up of compulsory Knowledge, Practical Skill and Work Experience Modules:

Knowledge Modules

• 333901-000-00-00-KM01, Workplace Fundamentals, Level 4, 15 Credits.
• 333901-000-00-00-KM02, Basics of health, safety, and the environment, Level 3, 10 Credits.
• 333901-000-00-00-KM03, Introduction to Information Communications technology Level 4, 15 Credits.
• 333901-000-00-00-KM04, Legislation and Regulatory Framework for Auctioneering, Level 4, 10 Credits.
• 333901-000-00-00-KM05, Ethical Business Principles, Level 4, 10 Credits.
• 333901-000-00-00-KM06, Principles of Auctioneering, Level 4, 30 Credits.

Total number of credits for Knowledge Modules: 90

Practical Skill Modules

• 333901-000-00-00-PM-01, Secure Mandate and Compile Different Types Of Contracts For Auctioneering,

Level 4, 5 Credits.

• 333901-000-00-00-PM-02, Identify, Classify, and Lot Auction Stock, Level 4, 5 Credits.
• 333901-000-00-00-PM-03, Identify and Apply Safety, Health, and Risk Prevention for Auctioneering, Level 4,

5 Credits.

• 333901-000-00-00-PM-04, Estimate Current Market Value of Auctioneering Assets, NQF Level 4, 5 Credits.
• 333901-000-00-00-PM-05, Conduct Marketing for Auction Sale, NQF Level 4, 10 Credits.
• 333901-000-00-00-PM-06, Conduct an Auction, Level 4, 14 Credits.
• 333901-000-00-00-PM-07, Conduct After Sale Seller Settlement Report, Level 4, 10 Credits.

Total number of credits for Practical Skill Modules: 54

Work Experience Modules

• 333901-000-00-00-WM-01, Processes for Securing Mandate and Compiling Different Types of Contracts for Auctioneering, Level 4, 6 Credits.
• 333901-000-00-00-WM-02, Procedures for Identification, Classification, and Lotting of Auction Stock, Level 4,

5 Credits.

• 333901-000-00-00-WM-03, Procedures for Identifying and Applying Safety, Health, And Risk Prevention for Auctioneering, Level 4, 5 Credits.
• 333901-000-00-00-WM-04, Processes for Estimating Current Market Value of Auctioneering Assets, Level 4,

5 Credits.

• 333901-000-00-00-WM-05, Procedures for Conducting Marketing for Auction Sale, Level 4, 5 Credits.
• 333901-000-00-00-WM-06, Procedures for Conducting an Auction, Level 4, 5 Credits.
• 333901-000-00-00-WM-07, Procedures for Conducting After Sale (Seller) Settlement Report, Level 4,

5 Credits.

Total number of credits for Work Experience Modules: 36

1. Demonstrate the ability to secure a mandate to sell an auction asset.
2. Demonstrate the ability to market the auction stock to draw buyer to the auction.
3. Manage all auction records to ensure legal compliance and client satisfaction.

Associated Assessment Criteria for Exit Level Outcome 1

ELO1: Demonstrate the ability to secure a mandate to sell an auction asset.

• Conduct negotiation of mandate in compliance with communication, emotional intelligence, auctioneering legislation, and estimation of asset values.
• Negotiate and sign the specific, relevant, and unique contracts for different auction assets.
• Assess, correct, and apply health and safety, and asset protection risks ensuring public safety, asset protection and client safety and security.
• Protect and validate information collected from the asset owner against FICA requirements.
• Evaluate the classification of auction stock into lots to comply with functional use of assets and affordability.
• Classify the assets to follow appropriate methodologies.
• Apply the procedures for collection of comparable market value taking location and time into account.

Associated Assessment Criteria for Exit Level Outcome 2

ELO2: Demonstrate the ability to market the auction stock to draw buyer to the auction.

• Comply with the requirements for public notification and advertisement and with the standard rules for auctioneering.
• Conduct marketing and branding to target the market segment profiled to be interested in the specific auction stock.
• Apply the auctioneering processes in compliance to FICA and POPI requirements.
• Evaluate called bids to establish whether the final price settlement is compliant to the contractual mandate.
• Conduct procedures undertaken prior and after the actual auction to establish legally compliant participants, auction stock reconciliation and accurate record management.
• Administer the entire process of auction to comply to ethical business practices and professional conduct.

Associated Assessment Criteria for Exit Level Outcome 3

ELO3: Manage all auction records to ensure legal compliance and client satisfaction.

• Reconcile all legal transactions and payments to establish an accurate report for the seller.
• Report offer price below the reservation price to the seller to establish willingness to accept a lower price or not.
• Draw the financial reconciliation (and stock) from the established owner trust account in compliance with the law.

INTEGRATED ASSESSMENT

Integrated Formative Assessment

The Skills Development Providers will use the curriculum to guide them on the stipulated internal assessment criteria and weighting. They will also apply the scope of practical skills and applied knowledge as stipulated by the internal assessment criteria. This formative assessment leads to entrance into the integrated External Summative Assessment.

Integrated Summative Assessment

An External Integrated Summative Assessment, conducted through the relevant QCTO Assessment Quality Partner is required to issue this qualification. The External Integrated Summative Assessment will focus on the Exit Level Outcomes and Associated Assessment Criteria. Additional to the written assessment the learner must also submit a portfolio of evidence compiled of outcomes achieved in the workplace.