Estate agents and anyone in the industry wanting to know more about the Modern Method of Auction (MMoA) are being invited to attend a free webinar being hosted by iamsold next week.
MMoA is becoming increasingly more popular, and iamsold is hoping to persuade more agents to sign up to this method of selling property. Last month, Rightmove launched a new digital auction feature powered by iamsold.
The webinar will take place on Thursday 13 May 2021 from 11am and those wanting to attend can book their place now.
Hosted by iamsold’s head of partnerships Tom Bailey with panellists managing director Jamie Cooke and head of compliance Emma Burdis.
The session will cover:
- How did the Modern Method of Auction start – talking about how MMoA works, who it is for and busting the myths and misconceptions around the method.
- Putting the spotlight on transparency and compliance – discussing the importance of transparency, iamsold’s industry-backed Best Practice Guide and the roadmap for more improvements in the future.
- The future of MMoA – looking at how Rightmove and Zoopla are supporting MMoA and what it means for adoption of the method, auction market predictions for the remainder of 2021, and what innovation is to come.
- Q&A – time at the end for any questions to be asked.
Cooke commented: “With interest in the Modern Method of Auction growing at speed and more agents considering offering it to meet demand from consumers, we want to use this webinar to share more information about the method and answer any questions people may have.
“It will be a great opportunity for agents to learn more about the benefits MMoA can give them and their clients, and ultimately clear up any misconceptions. One misconception we hear is a lack of transparency around fees which MMoA has faced criticism for. This is an area we’ve driven significant change around to ensure full transparency and that consumers have a consistent MMoA experience. By addressing things like this we hope people will leave the session with a better understanding of MMoA and its place in the market.”
Register now for the webinar by clicking here.
Just Last week i met a seller of a property getting sold through MMA and was really happy as wasnt costing her anything, when i told her we would have to may £6000.00 (Property guided at £35,000) that was the first time she was aware the fee the buyer pays which obviously comes off there best bid and actually brings price down even more as its not recoverable if taking a mortgage.
What Modern method of auction is doing istaking a table saying its a chair and then trying to make reasons why its a chair, just keep it as a table.
Part of the reason they are so succesful is becuase they pay Hush Money to there partner agents which is 50% of the fee. if an agent sells a 50K property on the open market they maybe make £1000.00 through MMOA they make £3000.00
I wonder if they will address any of this in there web conference.
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I’m very tempted to register but would only and up as a disrupter, even with the best of intentions!
I’m continuing to act successfully for people who have been completely led up the garden path by the so-called “Modern” Method. The majority of complainants have been refused return of their reservation fee when the delay in exchange has been on the seller’s part and the agent has told them they have no chance because the contract says it is only the buyer who has to exchange in time. In fact the fee has to be refunded most of the time in such cases under Contract Law. Also, sellers like elibh35’s scenario are increasingly complaining because the agents simply do not tell them that they will receive less for their property this way and that bidders will be reduced in number; not providing this info is a straightforward breach of the TPOS code to start off with.
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Class action suit potential?
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Interesting points you make! we should talk some time. its a much bigger issue than you think
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