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What is the Modern Method of Auction (MMoA)?
At its core, the Modern Method of Auction is a digital-first sales process. It brings together the speed and certainty of Traditional Auction with features that make it more accessible to everyday buyers and sellers.
Rather than a live auction room, the bidding happens online over a set period (usually 30 days). Buyers can place bids anytime during that window, and once the auction ends, the winning bidder pays a non-refundable Reservation Fee to secure the property.
From there, they have 56 days to exchange and complete, giving them enough time to arrange a mortgage, surveys and legal checks, which isn’t possible with Traditional Auction timelines.
Why do sellers choose auction?
For sellers, the appeal is often speed, transparency, and a more secure process. Once the auction ends, they know the buyer is committed and the sale has a clear timeline to completion.
Auction can also be a great fit when:
- The seller wants a quicker sale than Private Treaty might offer
- A property has been on the market for a while without success
- The seller is motivated by security and committed buyers
- There’s strong demand that could lead to competitive bidding
It’s not about replacing Private Treaty but giving sellers more choice based on their circumstances and moving priorities.
What’s in it for buyers?
One of the common misconceptions is that auction is only for cash buyers or investors. MMoA is different.
Because buyers have 56 days to complete, it opens the door to people who need a mortgage. The process is fully transparent too, everyone can see the bids coming in and knows exactly what’s happening. That level of transparency can be a big plus, especially for first time buyers.
For many, it takes the stress out of negotiations and helps avoid situations like gazumping. Once the auction ends, the purchase is secured.
Why agents are adding auction to their services
More Estate Agents now offer auction as part of their service to give sellers more options and to keep pipelines moving in a slower or more uncertain market.
Here’s why it works well for agents:
- Speed – Fixed timelines and upfront information help reduce delays and move sales through faster
- Security – Buyers commit early, which lowers fall-through rates
- Flexibility – It’s ideal for certain types of property or motivated sellers
- Additional revenue – With a new stream of income, and an option that supports winning new instructions
But just as importantly, it gives agents more confidence when advising sellers. Having auction in your service offering means you can offer the right method of sale for the right client.
Opening up more opportunities
Auction isn’t just a niche or specialist service anymore. It’s fast becoming a mainstream option for everyday movers who want clarity and control.
The Modern Method of Auction gives agents and consumers more choice, more security and more flexibility at a time when all three are in high demand.
By understanding when it’s the right fit, you can support your clients in making more informed decisions, and help more sales cross the finish line.
Ready to explore auction?
The iamproperty Auction App is available now on the Reapit App Marketplace, helping you offer auction with ease, whether you're brand new to auction or looking to scale your success.
Download Iamproperty on the Reapit App Market, or find out more here
