Portals help Modern Method of Auction firm take top spot

Iamsold, the company best known for its Modern Method of Auction online platform, has won top spot in an auction league table.

It is number one on Essential Information Group’s annual auctioneer league table.

Both Zoopla and Rightmove recently signed MMA deals with Iamsold.

MMA has attracted criticism from some agents and at least one prominent consumer group because of how its fees are applied to buyers. 

In 2020 Iamsold says it completed on 3,258 property sales last year, raising £442,196,144 in capital value.

Online auctions continue to become an option for agents rise in demand and Iamsold says it has delivered “record-breaking sales volumes” in 2021 so far, up by 52 per cent. March saw the company’s highest ever monthly sales with 512 properties sold, raising over £84m in capital value.

Jamie Cooke, managing director, says: “2020 was a big year for auction and the housing market, as more people needed the speed, security and transparency that online auctions deliver. When the property market reopened during the first lockdown, we saw demand for auction spike instantly.

“More and more agents are now offering auction and we grew our Partner Network significantly last year. We now support over 2,500 agents with auction services and help them to sell more lots than any other provider in the space, giving them an additional income and enabling them to offer more choice to their clients.

“Consumers are becoming increasingly aware of the benefits too and our industry-first relationships with both Rightmove and Zoopla will help to educate consumers even further. It’s been a record-breaking start to the year with increasingly high volumes of monthly sales and I only expect this to grow.”