Rightmove is launching a new digital feature for the Modern Method of Auction (MMoA) with auction provider iamsold on Monday to help agents who would like to offer clients the option of this method of sale.

The new feature is designed to give agents an additional route to market to offer to their existing and prospective sellers, and to help differentiate MMoA on the property website.

As part of their commercial agreement, Rightmove customers who are part of iamsold’s partner network will benefit by automatically having all of their relevant listings on the portal enhanced with information explaining how the MMoA process works, and real-time information about the latest online bids on the property added to these listings via an API from iamsold.

Also as part of their new collaboration, agents who do not currently have an auction service will have the option to sign up to iamsold to offer this to their sellers.

Rightmove is also speaking to other online conditional auction providers to help facilitate the functionality for more agents in the near future.

Further content explaining the MMoA process will also be promoted on Rightmove with the aim of helping educate buyers and sellers on the option.

Rightmove’s agency director Dave Anderson said:“We’re excited to start this journey to help give agents more options to offer to their vendors, and to explore how home-hunters interact with agents’ listings when they’re provided with more information about this method of buying or selling.

“We know that the exact process varies from provider to provider and so we’ve developed information for home-movers to help them better understand how Online Conditional Auctions work. We hope this could open up more routes to property transactions for agents who may not currently be using an auction provider or who do not have their own auction service.”

Jamie Cooke, Managing Director at iamsold, said: “From market trends last year and how consumer needs have changed because of Covid we knew 2021 would be a big year for MMoA.

“The volume of MMoA sales is growing rapidly as the speed, security and transparency offered is now more important than ever in the marketplace.

“Consumers will be aware of the process upfront which we hope will lead to increased awareness and understanding, resulting in more interest in auction properties, bids and sales from engaged and informed buyers.”