The Home Buying and Selling Reform Roadmap is bringing estate agent sales closer to auctions, but the sector still has plenty of edge.
When the RICS reported that the average time from listing to completion had rocketed to a record-breaking 21.5 weeks, it was clearer than ever before that estate agency sales need reform. The government’s Home Buying and Selling Reform Roadmap, published on the 19th June, has now set out exactly how this will be done.
Among other initiatives, the roadmap includes the gradual introduction of upfront property information and binding conditional contracts over the next few years, features that will sound all-too familiar to the property auction sector.
So, does this mean estate agents are finally catching up?
Speed and security
The roadmap may be pointing towards the speed and security typically provided by auctions, but there are plenty of aspects that will ensure the sector keeps its USPs.
Commenting on the roadmap, Auction House Managing Director Oliver Prior said:
“Private treaty transactions have become drawn out and time-consuming, weighed down by a lack of digitalisation, poor commitment and late information. Although the government’s remedies will help to speed up estate agent sales, auction’s ability to complete quickly will be difficult to match.
“Our sector has been working to short timelines for a long time. Here at Auction House, our standard completion timeframe is within 28 days. When it comes to the time period from enquiry to listing a property, our local teams are also well-positioned to get the process moving quickly and assist sellers to get everything they need ready for the legal pack.
“The security of an auction sale also cannot be beaten. While the eventual introduction of reservation fees and binding conditional contracts will improve private treaty drop-outs, they will still give buyers and sellers the option to back out.
“At auction, the sale becomes legally binding the moment the gavel falls. Contracts are exchanged at this point, giving a seller legal recourse should the sale fall through. This gives both bidders and sellers peace of mind.”
Case study: A speedy probate sale
Estate agents may be striving for speed, but we already have a reputation for delivering it:
“When we initially contacted Romilly [at Auction House Hull & East Yorkshire], she got straight back to us within a couple of hours. Within that same day, she’d got everything moving and begun the paperwork. I’d say that in just a couple of weeks, all the photos and EPC (Energy Performance Certificate) were done. She arranged everything we needed.”
Read the full case study here.
A resilient sector
Auction has long been resilient to change and has posted strong results in difficult circumstances.
In 2025, we reported a record-breaking year, raising over £860 million. This year, in the face of more challenging market conditions, we have still posted a 15% increase in sums raised for clients from January to May 2026 compared with the same period in 2025.
A strength of the auction market is its anticyclical nature, and results posted by the Essential Information Group back up the sector’s strength in adverse conditions: while the private treaty market was subdued in May, national auction activity grew, with 3,900 lots offered across the UK, up by 6.1% from 2025.
Oliver pins this growth to auction’s quick turnaround, secure sales and ever improving accessibility:
“Auction is a refuge for buyers and sellers who need a guaranteed, transparent sale. Since the adoption of livestream and online auctions, accessibility has improved significantly. Stakeholders can engage in any auction event from anywhere in the country and at any time, delivering greater confidence in auction as a platform to transact over. The sector is becoming more popular, with 2025 being a record-breaking year for us here at Auction House and for the auction market in general, which made £5.9 billion in sales.”
In closing, Oliver believes the Roadmap illustrates a positive direction of travel for the private treaty market, but in a turbulent political world with what will be seven Prime Ministers in 10 years, the question remains as to whether the direction of travel holds, and what impact, if any, this will have on the auction market:
“Private treaty sales may be drawing inspiration from some of the advantages of auction, but there is a long road ahead for what will be an industry overhaul. Auctions will continue to have the edge when it comes to speed and a secure sale. This doesn’t mean that the sector cannot improve; I hope that the Roadmap will encourage the sector to hone its advantages and deliver an even better route to sale for buyers and sellers.”
