The Illawarra’s aspiring auctioneers were successful in their bid to raise funds for charity recently.
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The Real Estate Institute of NSW hosted the annual Wollongong Novice Auctioneers Competition at Harbourfront Seafood Restaurant earlier this month.
Clinton Richardson from Illawarra Estate Agents in Warilla was the winner.
The public could bid on auction items while supporting charity.
The event raised about $10,000.
Funds raised will go to R U OK? and the I98FM Illawarra Convoy.
It was actually the first auction Mr Richardson had conducted.
Mr Richardson has been working in the real estate industry for 15 years, including being owner/director of another real estate business and undertaking an executive sales role.
He wanted to add auctioneering to his repertoire.
“I guess this is just a way to throw myself in the deep end,” he said of the competition.
“I’ve sold plenty of properties by auction as a listing agent, and maybe that gave me some insights.
“I’ve been around auctions for years, but never called one and it’s certainly a different perspective.”
Auctions can be high-pressure situations for buyers, particularly those unfamiliar with the process.
Mr Richardson encouraged prospective buyers to do their research on the property beforehand, and have their finance in order.
He also urged prospective buyers to “not be scared on the day”.
“Don’t be afraid to bid. If you like the home and want to bid, start.
“Most people want to sit there and let other people bid it right up there until they’re out of the picture.
“It can be nerve-wracking, being there in front of a crowd. But don’t sit on your hands.”
He said auctions were an “open and honest forum”.
“It gives you a real-time idea of market value.
“In adjusting markets like we’re in at the moment, coming off the back of a boom in my opinion, markets are uncertain, prices are a little all over the place.
“An auction gives you a real-time, a snapshot of where the market is on that day.”
The REINSW Novice Auctioneers Competition is an annual event and is open to entrants over 16 who live in NSW, who have not completed more than six auctions in the past 12 months or more than eight in their career.
The state final will take place on June 28 at 6pm at the Powerhouse Museum, Sydney.