120 Hours of Auction School in Ten Days
Isaac Klingman | June 29, 2022
Have you ever wondered how our auctioneers became auctioneers? All of them had incredible mentorships and many of them attended auctioneer school. Yes, there is such a thing as auctioneer school and one of our auctioneers, Isaac Klingman, just got back from the 10-day experience. Let’s learn a little bit more about how Isaac spent his ten 12-hour days at Reppert Auction School in Indiana with a Q&A…
“What is auctioneer school?”
At the start of an aspiring auctioneer’s career, new auctioneers will gather to learn everything that goes into being an auctioneer from mastering your chant to auction basics and business management. These courses are taught by 30 instructors, all masters in their profession. While most auction schools mainly focus on perfecting your chant, this specific school balances 120 hours of learning with bid calling, marketing, and business lessons from the industry's top leaders.
“How often do you have to go to auctioneer school?”
Most auctioneers only attend auction school once as a new auctioneer. After attending auction school many will work for a more established auctioneer in their market who has much more wisdom and experience to offer. To continue their auction education, most are members of the National Auctioneers Association which is a coalition of the world's best auctioneers from all over the country and world. Working together in the association members will attend conferences and webinars throughout the year constantly learning from industry leaders as well as one another. Our auctioneers are also active members of the National Association of REALTORS®, Kansas Auctioneers Association, REALTORS® of South Central Kansas, and other organizations.
“What topics did you learn about?”
In a 120-hour course, you learn a lot about the auction industry. Contrary to popular belief, the industry is very diverse, and the number of different types of auctions is mind-boggling.
At the beginning of the course, you receive an “auction bible,” which is arguably the best book in the world for holding information about the industry. This book is over 3” thick and about 1000 pages, so it is safe to say I learned about all kinds of things over the ten days. The book has eight specific sections: auction basics, legal aspects of auctioneering, advertising & marketing, the auction chant, auction preparation, condition & settlement, real estate auctions & appraisals, specialty auction topics, and contracts.
It is without a doubt that I learned all sorts of information over my ten days, but the learning never stops. Once you have what was given to you at the school, you then take that, apply it in the real world, and continue to learn.
“What was the most valuable topic covered?”
It is hard to pin down only one topic because all the information given was valuable, whether you utilize it every day in your business or not.
Since I work in the real estate side of the industry, the legal discussions such as contract reviews and lectures given by leaders in real estate auction were the most valuable to me. The fun part of the auction industry is that everyone conducts their business differently and does what works for them. By listening to others who have been in the industry, you can pick bits and pieces from each one and find what works for you.
“What is something you were able to perfect or learn how to perfect while at auctioneer school?”
Let's start by saying I will never be able to perfect any aspect, however, there are some things that I can become very good at. One thing that I did advance in while at auctioneer school was learning how to better conduct multi-tract auctions of land that can have multiple highest and best uses. By offering them in a multi-tract style auction, you can attract more buyers and create more demand (which in turn helps the seller you work for). Overall, I now have a better understanding of the process and how to better evaluate a potential sale.
“Why is attending auctioneer school important?”
Attending auction school is very critical if you want to become an auctioneer, no matter the type of auction you want to do. You may think you have an idea of what to do when starting your career in the auction industry, but once you get started, you will quickly realize there are many things you do not know. The best way to be prepared and set yourself up for success is to attend auction school. You will learn from the best by hearing their stories and listening to their advice. Learn as much as you can because once you are in the industry, that information you learned at school will be invaluable and put you one step ahead of everyone else.