Auctioneer - Career Advice - Retail and Hospitality

Bloodstock Agent
Stock & Station Agent

Before an auction, auctioneers may be required to inspect a property or goods for sale and arrange any necessary advertising to promote the auction. They also discuss with vendors the lowest price for FutureGrowthModerate goods that the vendor will be willing to accept. During the auction they may have to explain the terms of the sale, answer any questions, describe the goods for sale including any special features, ask for bids and adjust the amount between bids as the auction progresses. After the auction they may assist in finalising the sale.

ANZSCO description: 611111 Conducts sales of real estate, goods and livestock by taking offers from buyers and accepting the highest purchase price (registration or licensing is required).

Specialisations: Antiques Auctioneer, Livestock Auctioneer, Plant and Equipment Auctioneer, Real Estate Auctioneer, Vehicle Auctioneer

Knowledge, Skills and Attributes

An auctioneer needs:

a strong, clear voice
to be able to address large groups of people
self-confidence
to be able to make quick, sound decisions
Coordination Skills
Critical Thinking Skills
Problem Solving
Public Speaking Abilities
Strong Communication Skills

Duties and Tasks

Assess value of property to determine selling price at auctions
Establish opening bids at auctions and set reserve amounts
Facilitate the selling of a variety of farming and agricultural provisions including grains and seeds, stalls and equipment
Organise property listings at auctions, setting out terms and conditions of sales and advertise to potential buyers
Publicly announce and keep note of bid offers at auctions and close the bid when prices reach a maximum and few bidders remain
Work on behalf of rural farmers or individuals to provide insurance coverage
Work with clients to buy and sell livestock and land, keeping records of transactions

Selling a horse

Working conditions

Auctioneers may be required to travel to inspect property or merchandise, or to visit prospective clients. An auctioneer may have to work outside if auctioning livestock or real estate, otherwise inside. They may have to work evenings and weekends, visiting properties or merchandise and conducting auctions.

During auctions they need to be confident as they must stand before often large groups of people. They need to be thoroughly familiar with the property or goods they are offering for sale so they can recommend a realistic reserve price to vendors.

Tools and technologies

An auctioneer’s voice is his/her main tool in this line of work. They should be familiar with the goods up for auction. A gavel and stand are used in this occupation – the gavel to inform bidders that the highest bid has been reached, and a good ‘sold’.

Gavel

Education and training/entrance requirements

You can work as an auctioneer without any formal qualifications and receive training on the job.

The Real Estate Institute of Australia and the Auctioneers and Valuers Association of Australia do, however, offer short courses in auctioneering and valuation practice. Entry requirements to these courses may vary. Contact the organisations for further details.

Auctioneers must be at least 18 years old, have a licence granted by a magistrate and issued by a local clerk of court. If an auctioneer needs to deal with dangerous and/or sensitive goods, such as liquor, firearms, motor vehicles or live animals, they may require extra licences.

Opportunities

Auctioneers are employed by auctioneering firms, valuers or real estate agents, stock agents and produce firms. Some work alone or in partnership as consultants. Many people gain experience as an auctioneer's clerk before becoming an auctioneer. Employment opportunities for auctioneers may change during periods of economic growth, although work is still available during periods of low growth, particularly when firms and individuals become insolvent and have to sell their assets to pay off debts. There is also a shift within the industry towards greater use of the internet and online auctions.

Did You Know?

ABC News 23 July 2016

A Bloodstock agent specialises in the buying and selling of racehorses, broodmares and stallions on behalf of their clients in exchange for a commission. Bloodstock agents analyze pedigrees and conformation to assess the value of Thoroughbreds being FutureGrowthModerate offered for sale, both privately and at public auctions. Agents also bid on horses in the auction ring for their clients and may initiate or broker deals for horses being offered privately.

Bloodstock agents attend auctions and meetings, on behalf of owners, for the
purchase and sale of valuable animals. Agents can also be utilized for a wide variety of services beyond just buying and selling.

Often their services are used to purchase young horses with good pedigrees to train and sell for a profit. This practice is called ‘pinhooking’. They can also be involved in sales preparation, bloodstock appraisals for insurance, consultation for breeding and marketing stallions.

The core function of a bloodstock agent is to assess and purchase horses on behalf of clients. Some Bloodstock Agents also syndicate horses and must have the appropriate qualifications and accreditation to do so. Bloodstock agents must have strong client relation skills and an outstanding knowledge of thoroughbred breeding, horse conformation and value.

Bloodstock Agents will be particularly active at weanling and yearling sales where they are looking for purchase new stock on behalf of clients. Some agents specialise in the trade of 'tried' (already raced) horses from interstate or overseas.

Many agents advise their clients on breeding plans for their broodmares, and they may facilitate the booking of these mares to stallions that are in high demand.

LIFE OF A BLOODSTOCK AGENT | Will Douglass | Tattersalls
https://youtu.be/VqTkz-41ue0

ANZSCO ID: N/A

Specialisations: Bloodstock agents can specialize in racing stock, breeding stock, or a combination of both areas.

On the racing side of the equation, bloodstock agents can specialize even further. While some agents focus on identifying prospects for clients who race what they purchase, they also may work with clients who seek horses that they can resell in a short period of time for a profit, which is known as “pinhooking.” For instance, these clients would purchase a weanling to sell as a yearling, or a yearling to sell as a two-year-old in training.

Knowledge, Skills & Attributes

A bloodstock agent should have an excellent knowledge of Thoroughbred pedigrees, equine anatomy and physiology, industry news, and current market trends. Agents must also have strong marketing, sales, and business management skills to be successful in this career.

The path to becoming a Bloodstock Agent is not necessarily a fixed one that has specific qualifications. Some major bloodstock/sales companies around Australia may cadet roles to train people in bloodstock fundamentals.

The Federation of Bloodstock Agents Australia was formed in 1988 to "maintain, improve and develop the standards, status and services of Bloodstock Agents throughout Australia to present and promote the views of its members". More information on their code of conduct and ethics can be found on their website.

Agents should also be familiar with the guidelines for the ethical operation of a bloodstock agency; these guidelines were drafted by the Sales Integrity Program. A bloodstock agent’s success is closely tied to their reputation in the industry, so it is in their best interest to conduct business honestly and in accordance with these guidelines.

A bloodstock agent should have additional skills to help them excel in their job, such as the following:

Knowledge: An excellent knowledge of thoroughbred pedigrees, equine anatomy and physiology, industry news, and current market trends.
Business skills: Strong marketing, sales, and business management skills to be successful in this career.
Know the rules: Be familiar with the guidelines for the ethical operation of a bloodstock agency; these guidelines were drafted by the Sales Integrity Program.
Credibility: A bloodstock agent’s success is closely tied to their reputation in the industry, so it is in their best interest to conduct business honestly and in accordance with these guidelines.

Bloodstock Agent
(Source: The Balance)

Duties and Tasks

Monitor the market and trends in the industry
Keeping an eye on the success rate of important studs
Representing owners at auction & private sales
Attending both private sales and public auctions to assess the value of thoroughbreds. Particularly with regard to pedigree and conformation.
Bidding on horses and brokering private sales for their clients.
Advising on sales of client’s own stock.
Devising mating plans for broodmares and booking sought-after stallions.
Assessing equines for horse insurance and valuation purposes.
Networking with other industry professionals.
Liaising with veterinarians, farriers, and other equine professionals to evaluate the health of specific horses.
Inspecting stallions, broodmares and foals
Involved in preparation of animals for sale
Consultation for breeding and sales
Marketing stallions
Traveling to auctions and breeding facilities worldwide - National and international travel to represent clients at sales and race meetings.

Bloodstock Agent at work

Working conditions

Bloodstock Agents generally work on a commission basis or maybe employed by owners or trainers.
A bloodstock agent may also appraise horses for insurance purposes or direct their clients to providers of insurance. Agents usually receive a commission for the referral, paid to them by the insurance agency.

Bloodstock agents must travel extensively to represent their clients at sales across the country and internationally. They must constantly network and build relationships with industry professionals to maintain and expand their sales business. Additionally, agents must be able to work closely with veterinarians, farriers, and other equine health professionals to evaluate the fitness of individual horses.

Education and training/entrance requirements

There are no licensing or educational certificates to qualify this position. The real requirement is vast knowledge of key players in your industry and a supreme understanding of horseflesh.

Because this is a freelance position the clients will vary considerably and each one will have specific requirements for their agent. However in the end their primary concern is a quality animal for a good price and your involvement within the industry will play a large part in that outcome.

There is a great deal of money to be made in this career, however it is a highly competitive industry. The top players make very good money, but there are only a few places at the top.

Did You Know?

Horse and Livestock Auctions in Australia

Bloodstock agents at auction

Buying livestock at auction, whether it be cattle, sheep, goats, fowl or equine, is a large part of farming life.

Livestock sales can take place at centralised livestock yards within the farming community or with the advent of technology some auctions are being held at the property with bidding taking place online. Benefits from online sales are less stress and handling of the livestock along with less traveling and time savings for the farmer or purchaser.

As with all purchases research plays a key role in buying well at livestock auctions which comes from knowing the market, picking the trends and knowing the quality of the livestock for sale.

Horse Auctions
The majority of horses on the track today have passed through a sale ring at some stage during their life. They may have been sold as a weanling (six to 12 months old), a yearling (12 months – 23 months old) or at a two-year-old in training sale.

Yearling sales are the busiest sales in the country and it is at these sales the competition for the next generation’s star is at its fiercest.

Catalogues are available from the respective bloodstock sales companies approximately six weeks before the auction.

Whether you have meticulously ploughed through the sale catalogue or have employed the services of your trainer or bloodstock agent to do it for you, when you arrive at the sales complex you should head for the stables and start your inspections.

It is always wise to have your trainer, agent or vet to accompany you when inspecting thoroughbreds.

At yearling sales, most of the horses will be at the sales complex a few days before the sale and in the majority of cases, the vendor will be available to answer any questions you may have.

At tried horse sales you can usually only inspect horses on the morning of the sale. Before entering the sale ring, each horse will be paraded in an enclosure adjacent to the sale ring for your final inspection. Each horse will carry a lot number that corresponds with its order in the sale catalogue.

Those horses that qualify for Super VOBIS bonuses also carry the Super VOBIS logo for easy identification. Super VOBIS is Victoria’s world-acclaimed owner and breeder incentive scheme, which provides bonuses on more than 1000 races a year – primarily two and three-year-old races.

Once the horse is sold to you as the purchaser, the bid spotter will approach you and ask you to sign the “acknowledgment of purchase”.When you sign for your yearling, you may also elect to have it scoped. Scoping is a veterinary procedure that detects anatomical problems in thoroughbreds that may cause breathing problems whilst racing.
(Source: AuctionFinder)

Stock and Station Agents facilitate the purchase and sale of livestock and sell property at auctions. They may represent farmers and set up business dealings. They should be business savvy and have FutureGrowthModerate strong communication skills.

Stock and station agents advise and represent farmers and graziers in business transactions such as the buying and selling of livestock, wool, fertiliser, farming and grazing land, equipment and merchandise.

Stock and station agents may specialise in livestock buying and selling, auctioneering, property and merchandise sales, arranging finance and insurance, pastoral inspections, and stud stock or wool.

They may be classified as grain merchants, wool buyers or wool merchants.

ANZSCO ID: 611112

Specialisations: Stock and station agents may specialise in livestock buying and selling, auctioneering, property and merchandise sales, arranging finance and insurance, pastoral inspections, and stud stock or wool.

Knowledge, Skills and Attributes

interested in the rural industry
able to take initiative
self-motivation
good organisational skills
good communication skills

Stock & Station Agents
(Source: Ray White)

Duties and Tasks

Stock and station agents may perform the following tasks:

study market trends and prices
arrange transport of stock to saleyards
take prospective buyers to inspect properties for sale
assist with selecting livestock, as well as commercial and stud stock
value livestock and advise on different marketing options for stock
arrange the penning and auction of livestock
arrange clearing sales of machinery and plant equipment that is no longer required
advise and assist clients with the management of agricultural or pastoral companies, stock or farming problems
conduct sales of wool on behalf of clients, usually on a commission basis
sell a wide range of agricultural products, including chemicals used in farming and grazing enterprises
selling agricultural supplies, such as seed, grains, feed, sprays, dips, drenches and veterinary products, in accordance with statutory requirements
write reports on business transactions
arrange finance for the buying of livestock or property
act as agents for insurance companies
arrange private sales between sellers and buyers

Working conditions

Stock and station agents usually travel a lot by car, work long hours and are often required to contact clients during the evening.

Stock & station agents travel to inspect property or merchandise, or to visit prospective clients. You may have to often travel long rural distances. You need to be thoroughly familiar with the property or goods you are buying or selling on behalf of clients. A lot of your work may be outdoors (for example, when involved in an auction of livestock or real estate on site).

A current drivers' licence would be required.

Stock and station agents may be employed by large pastoral companies or small private agencies. The demand for stock and station agents depends on the state of the rural industry, which is affected by factors such as interest rates, commodity markets, overseas prices for primary products and seasonal conditions. With experience, and sometimes further training, stock and station agents may progress to senior positions such as branch manager or area manager, or to executive areas of finance, real estate and insurance.

Education and training/entrance requirements

To become a stock and station agent you usually have to complete an accredited short course in real estate or a VOC qualification in property services - Certificate IV in Property Services (Stock and Station Agency), or be a licensed real estate agent or auctioneer. As subjects and prerequisites can vary between institutions, you should contact your chosen institution for further information. You may be able to study through distance education.

You can also become a stock and station agent through a traineeship in Property Services (Agency/Real Estate/ Stock and Station Agency).

Entry requirements may vary, but employers generally require Year 10.

Additional Information

Once you are employed, you may be able to develop, and have recognised, additional skills under the Property Services Training Package that will expand your career opportunities within this industry.

Agents who deal in farms and properties must be licensed stock and station agents. Stock and station agents who perform valuations must be qualified valuers. In NSW/ACT, those wishing to sell livestock must hold an auctioneer's licence.

The Australian Livestock and Property Agents Association, which is the national peak industry body for livestock and property agents, also offers online courses and certification in property practice, stock and station licensing and real estate licensing.

Employment Opportunities

Stock and station agents may be employed by large pastoral companies or small private agencies. The demand for stock and station agents depends on the state of the rural industry, which is affected by factors such as interest rates, commodity markets, overseas prices for primary products and seasonal conditions.

With experience, and sometimes further training, stock and station agents may progress to senior positions such as branch manager or area manager, or to executive areas of finance, real estate and insurance.