A new school auction champion will soon be crowned as part of a competition that has been credited with bringing young talent into the industry.
Victoria will host its first Schools Auction Idol grand final on July 30. The event is currently in its ninth year in South Australia and third year in Tasmania.
Auction Idol competition is open to students in years 10, 11 and 12, with practising auctioneers teaching them how to run an auction.
Event founder Lindsay Warner, who works for Adelaide agency Harcourts Brock Williams, told REB that contestants auction a real property but in a mock environment with a controlled bidding script.
Auctioneers have to initially describe the property, go through the legalities of auction then call for the bidding, while aiming for a reserve price.
Mr Warner said the competition teaches students about real estate through auctions.
“In South Australia, there are now students going straight from school into real estate as a result of Auction Idol,” he said.
“There is no other program that raises the profile of real estate agents and auctioneers within the community, introduces parents, teachers and students to us as community citizens and introduces students to our industry as a career in a positive learning environment.”
The inaugural Australasian Schools Auction Idol will be held in Melbourne on September 1, featuring two competitors from Victoria and two from South Australia.
Mr Warner said he hopes to introduce Auction Idol to Queensland and New Zealand.
[Related: 3 tips on how to be a great auctioneer]