caveats and vendor bid instructions. O Open the auction and confirm the number of registered bidders, explain any online bidding and any bidding by authority. O Read out the contract of sale conditions and terms and conditions of the auction (NSW legislation). O Introduce the property and explain its feature and benefits, council zoning, land title and vendor statement as set out in the contract. Give potential bidders and the general public an opportunity to ask questions and respond to their question according to the workplace code of conduct. O Submit the property for sale by auction and invite opening bids. O Manage the bidding process by using appropriate bidding increments and maintaining the momentum of the bidding. O Deal with disruptive bidders and retracted bids to reach the reserve price. O Seek instructions from the vendor to confirm a vendor bid or re-negotiate the reserve price. O Make a vendor bid in order to reach the reserve price. O Announce you are about to close the bidding. O Signify the close of the auction by using a final call, the fall of the gavel and a closing script. O Knock down the property OR pass in the property and offer for the highest bidder to negotiate with the vendor to reach the reserve price. O Seek feedback and identify and document your strengths and areas of improvement. Your assessor will use the observation checklist to mark your performance in the role-play. Use this checklist to understand what skills you must demonstrate during the role-play. The observation checklist lists the assessment criteria used to determine whether you have successfully completed this assessment event. All the criteria must be met. Your demonstration will be used as part of the overall evidence requirements of the unit