More than 100 Zoopla member agents have expanded their services by selling properties via the Modern Method of Auction (MMoA) offered through the portal’s partnership with iamsold.

Zoopla joined forces with iamsold over the summer and early MMoA sales have raised over £800,000 in capital value for vendors and earned £31,000 in agent fees.

A further 200 branches are in the later stages of signing up to be onboarded to iamsold in the coming weeks.

Zoopla claims that MMoA offers a major growth opportunity for estate agents, especially in the current market, as vendors are relying on its benefits of speed, security, and transparency more than ever.

So far this year, iamsold’s online auction sales are up by almost 12% compared to the same period in 2019.

Jamie Cooke, managing director at iamsold, commented: “We’ve pioneered the MMoA and it’s our goal for it to become a mainstream way of buying and selling property in the UK.

“There are clear benefits for Estate Agents and it can be a lifeline for vendors relying on a quick and secure transaction, which Private Treaty can’t always promise.

“Zoopla’s backing to join us in driving forward this positive change is invaluable. Not only is it expanding our network of Partner Agents and auction champions, it’s hugely contributing to the work we’re doing to change the perceptions of auction to grow its market share even more. It’s an exciting time for auction.”

Andy Marshall, commercial director, Zoopla, says that the positive feedback received from agents suggest for many the MMoA “represents a real opportunity to grow and diversify their revenue beyond traditional sales”.

He said: “We are committed to being the agents’ champion and the MMoA, with its faster sales, higher completion rates and increased rate of return, is the perfect way for agents to capitalise on the busy market.

“An increasing number of agents are realising these benefits and we’ve no doubt this will continue to grow as we head into what promises to be an exciting end to the year.”