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Online Conditional Auction digital feature on Rightmove


This spring, we're launching a brand new digital feature which will allow you to highlight listings that are being sold under Online Conditional Auction (also known as Modern Method of Auction). The feature will differentiate Online Conditional Auction listings in the search results and contain near realtime information about a property's latest bids.

The initial launch with our first Online Conditional Auction provider, iamsold, will go live 19th April. Agents who are signed up to iamsold will automatically have their relevant listings updated with the new feature. This will be supported with further content about Online Conditional Auctions published across Rightmove sites to help educate buyers.

Learn more about iamsold

We are currently speaking to other Online Conditional Auction providers to facilitate this functionality across more of your listings.

 

Why use Online Conditional Auction?

Get paid faster with a quicker sale
Reduce the risk of fall-through
Use as an alternative selling option for vendors who require a quick sale and as a back-up for properties that have not sold through private treaty
Fees are normally paid by the buyer, so no added costs for your vendor other than the provision of an auction pack

What's changing on Rightmove?

We're integrating with providers of Online Conditional Auction so you can differentiate your listings.

1. The new digital feature will highlight Online Conditional Auction Properties in the search results

online conditional auction search results

2. Listings will show realtime information about a property's latest bids

online conditional auction live feed

3. Listings will show information explaining how Online Conditional Auctions work

online conditional auction explainer

Online Conditional Auction providers

Our first integration is with the largest provider of Online Conditional Auctions, iamsold. We are currently speaking with other providers to facilitate this functionality across more of your listings - watch this space.

iamsold and the Modern Method of Auction

Status: Integration live on Rightmove 19/04/2021

iamsold have coined the term 'Modern Method of Auction', a type of Online Conditional Auction which is designed to suit vendors who need to sell quickly, with a broader appeal to buyers than traditional auction.

Benefits:

  • Buyer pays the reservation fee agreed by the agent of 4.2% inc. VAT (subject to a minimum) to secure the purchase
  • Aim to exchange and complete within 56 days

 

Want to learn more from iamsold?

Go to iamsold