(1) A licensed auctioneer shall not sell real estate at auction without a real estate broker’s license.
(2) A licensed real estate broker shall not sell real estate at auction without an auctioneer’s license.

Terms Used In Kentucky Statutes 330.032

  • Auction: means any method of sale, lease, or exchange of real property, personal property, or any combination thereof, by means of competitively increasing or decreasing bids. See Kentucky Statutes 330.020
  • real estate: includes lands, tenements, and hereditaments and all rights thereto and interest therein, other than a chattel interest. See Kentucky Statutes 446.010

(3) Notwithstanding the provisions set forth in KRS 426.522, an auctioneer and real estate broker may collaborate in conducting the sale of real estate at auction. When an auctioneer and real estate broker collaborate in the conduct of a sale of real estate at auction, a real estate broker shall be paid for services rendered as a broker, and an auctioneer shall be paid for services rendered as an auctioneer.
Effective: June 24, 2015
History: Created 2015 Ky. Acts ch. 14, sec. 1, effective June 24, 2015.