Oregon Auction License

Have you ever wondered what it takes to become an auctioneer in Oregon? Well, frankly speaking, not that much! As there are no specific regulations concerning the matter, people can choose this state as the starting point on their career path. Check today’s article to learn more about Oregon auction license types and terms under which US residents can be eligible for it.

Auction License Types Explained

Let’s cover some basics before passing on the main topic. What is an auction? In brief, it is a public sale in which items are sold to the highest bidder. OR statutes don’t define what it is. However, the term generally includes any method of offering property to the public for sale. In such bargains, prospected purchases compete against each other to get the lot.

Competitive bidding at auctions can be verbal or written bids submitted before or during the event. The state auctioneers can use the ringmen’s services to help boost sales. These are people who walk around and try to generate interest in the items on sale.

Now that we have a general understanding of what it is, let’s talk about the various types of licenses.

Real Estate Oregon Auction License

Suppose a resident wants to bid on or sell real estate at an auction. In that case, they need a real estate broker’s license. The Oregon Real Estate Agency (OREA) oversees the licensing of niche professionals in the state. To become a qualified real estate broker, you should:

• be at least 18 years old
• have a high school diploma, GED, or internationally recognized equivalent documentation
• register in eLicense – the Agency’s official online license management system
• pay the $300 nonrefundable application fee
• complete 150 hours of pre-license education
• pass the state exam

Find everything related to the state examination. To learn about the same requirements for the California auction license, go through the link.

Online Car Auction License

The Department of Transportation (DOT) is the state agency issuing car dealer licenses. Getting a permit to sell cars does not cost many headaches. The first step is to complete the Dealer License Application form.

Please note that the application may take 6-8 weeks to process. You cannot hold any auctions until the application is approved.

Active and Inactive License Renewal

State professionals should renew their licenses every 24 months. According to previously linked official resources, residents can update their documents starting the first day of the month it expires in.

If you aim for an active renewal, you will need to go through the following steps:

• Complete the continuing education.
• Enter information concerning the previous point in the eLicense account.
• Pay the fees ($300).
• Keep the continuing education records for no less than three years.

However, if you need an inactive renewal, make sure to check the following proceedings:

• No continuing education
• Pay the $150 fee
• Wait for the receipt via email

However, you should remember that conducting professional business with an inactive or expired permit leads to civil penalties.

Late Renewal Proceedings

If you fail to update yours on time, you still have a year to do it. Thus, here are the main steps to be able to implement auctioneering activities:

• Complete the compulsory continuing education (see the link above).
• Pay $300 + $150 for the late renewal.
• Keep the education records for three years.

Besides, ensure that your supervisor or property manager logs into eLicense. Here, they should transfer your license back to the business.

The transfer fee is $10 per licensee.

Oregon State Auctioneers Association

Although the state doesn’t have strict requirements for auctioneers, residents may still need to obtain a permit from the municipality or county where the sell-off will be held.

To increase the chances of getting such a permit, consider joining the OSAA. The organization is dedicated to fostering and promoting professionalism in the industry. It is also worth mentioning that the association has trusted companies that issue local auctioneer bonds.