Real estate agents will have to be up-front about their commissions, if they want to use the real estate industry's new equivalent of Tinder.

LISTEN ABOVE: Larry Williams talks to the chief executive of Agent Auction, Andreas Heuser, about the website and its aim.

Agent Auction will match sellers with real estate agents, giving them up to five to choose from.

Chief executive Andreas Heuser said the aim is to make the real estate industry more transparent.

He told Larry Williams agents will have to put their proposals to sellers, within three business days.

"Proposals detailing their commission, their service levels, their recent experience and their personal profile; why they're a good person to sell this property."