Modern method auction (MMoA) sales are gaining ground in the UK housing market, according to new data from Lomond, a network of lettings and sales agents, which shows that house purchases via this method have increased by 14.5% in the last year, compared with the previous year.
The trend suggests that more sellers and buyers are looking beyond traditional sale routes, with MMoA sales on average completing faster than other methods, at a time when conventional transaction timelines remain lengthy. Once the price is agreed in a MMoA transaction, the sale must complete in 56 days, the firm says, adding that data from across its network reveals house sales via other methods take an average of 98 days. The findings come as lengthy transaction timelines continue to place pressure on movers, with certainty of sale becoming an increasingly important factor for vendors and buyers navigating the residential market.
Modern methods of auction differ to the traditional auction method as they are conducted online over a longer period of time – offering flexibility for both the buyer and the seller. The data from Lomond also shows that total completions for modern method auction sales are up 9.4% year-on-year.
Across the Lomond network, Yorkshire and Manchester have seen particularly notable increases in auction activity. In Q1 2026, Yorkshire saw the number of properties for sale via auction increase by 25% year-on-year. In Manchester, auction completions rose by 13.6% this year, compared to the previous year, representing how the residential sales market is moving decisively and reflecting the clear momentum returning to the market.
Paul Clarke, chief revenue officer for North West and Midlands at Lomond, said: “Auction sales are becoming an increasingly attractive option for vendors seeking greater speed and certainty. There’s been a misconception previously that auction sales are for properties that need serious renovations, but this is not always the case.
“As transaction timelines continue to lengthen across the wider housing market, auctions offer a route to a quicker, more secure sale, helping to explain the growing appetite we’re seeing across a number of our regional brands.”
Comments (5)
I’d recommend that the skeptics and naysayers actually speak to clients, agents and MMoA service providers to properly understand why this method of sale can be valuable to all parties before making half-baked assumptions.
If you think it’s some kind of “Wild West” scenario involving car-finance-style non-compliance and pressure selling, you may be in for a shock.
Ultimately, if you’re an agent and don’t like it, you don’t have to offer it. But isn’t your client entitled to have a choice based on their actual needs? And aren’t you, as an agent, bound by the same TPO regulations to present the options fairly and without bias, with the client’s requirements guiding your advice and decisions?
Can be valuable to all parties, but is rarely fair to all parties.
9.4%, 25% (!), 13.6% Y-on-Y increases are pretty meaningless without context. The eye-watering 25% stat could be eye-watering for different reasons – esp if it’s simply an increase from 3 to 4! For openness and transparency, let’s see the full data-driven research evidence Lomond?
Still can’t believe this atrocious way of selling houses hasn’t been banned. Trading Standards, TPO, where are you?
MMoA – great for the agent, but perhaps not so much for the client. The fees are phenomenal in comparison to a normal open market sale. For the majority of properties I’ve seen listed using MMoA over the years it seemed to clear me that perhaps the agents involved were taking advantage of a situation, rather than giving proper advice.
Back when I was working in London (many years ago when telephone numbers on paper cards in a plastic box were still a thing) I always asked my clients “Why?” – i.e. what made them ask for a valuation. Were they just interested in the price or were they serious about selling. Then I asked it again, and perhaps a third & fourth time trying to get to the bottom of their motivation.
In most cases, the right advice was: “Let’s get it on the market and see what happens.”
In some cases, the right advice was: “I have a modest list of rental investors who can be relied upon to buy your property quite quickly, but they will be arranging some finance. It’ll be quicker than a normal buyer, but they will pay you less than full market value”
In a very few cases, the right advice was: “I have a small list of REAL cash buyers who can be relied upon to buy your property very quickly for cash cash. You will get a lower price, and they will refurbish the house to put it straight back on the market, but the money will be in your account in less than 4 weeks.”
For MMoA, it’s very different. It looks like the seller is in control, but they only pay a minimal listing fee which is usually for the legal pack. The client then defaults to being the purchaser as they are paying the fees. However, should a buyer wish to purchase the property they are railroaded into an agreement that they have no say in. The terms is MMoA agreements are quite onerous.
Whereas high street agents often charge in the region of 1% plus VAT, typical “headline” fees for an MMoA are 2.5% plus VAT. However, very high minimum fees that are often hidden deep within the small print. This is something the seller never truly considers.
Buyers have to pay a reservation fee which is forfeit if they withdraw. I acted for the buyers in one case where the “vendor” was the estate of a deceased man. The beneficiaries decided they wanted a quick sale so signed up to an MMoA. However, due to a slow market and delays in the probate process that the solicitors did not think to consider, the interest accrued on the mortgage in the meantime meant that there were insufficient funds to discharge the mortgage on completion day. The estate of the deceased had to stump up the extra money, but it took months to arrange because the kids had no money themselves and the estate was essentially valueless once the mortgage was paid off at the agreed sale price. The buyer who had agreed an amazingly low purchase price was left waiting and aside from losing a great deal, could not withdraw for fear of losing their reservation fee. The sale eventually completed 8 months after the “hammer fell”, rather than within 56 days. In that time prices went up. My client got an excellent deal, the seller got shafted!
Other cases I have seen, the MMoA sales have taken ages to agree, having been on the market for just as long as normal houses, and due to the fees to be paid and buyer’s reticence to pay reservation fees, often come in at significantly lower prices than they should.
Most proper Auction Houses use the internet to its full potential, so if a property needs selling now then that is the right way to go.
Personally, I think that MMoAs are “smoke & mirrors” or “bait & switch” tactics that have been dressed up to look consumer safe but may well be the opposite.
I do wonder if they will eventually be classified as mis-selling, like car finance, payment protection plans or endowment policies. No doubt, time will tell.