The auction of a spacious Surry Hills apartment will make history on 21 May, when it becomes the first property to go under the hammer live on Facebook, through a video app called Periscope.

Jason Ballo, Principal of Raine & Horne Surry Hills, conceived the concept of the live Facebook / Periscope auction campaign, and said real estate will increasingly incorporate technology into all aspects of its operations.

"Zuckerberg announced Facebook's 10-year plan at F8 in San Francisco recently," said Bollo. He said the plan "incorporates virtual reality, augmented reality and the future of live stream."

"It's appropriate we're making real estate technology history in Surry Hills," said Bollo, "which is in the heart of Sydney's unofficial 'Silicon Alley', where a large number of Australia's leading tech players are based."

Periscope is a live video streaming app that was developed by Kayvon Beykpour and Joe Bernstein in the United States.

The app is being used in the United States to view properties.

"Periscope as a real estate tool is taking off in the United States, as it allows buyers and investors to view a property in real time, which can suit those who find it difficult to visit a property in person," said James Pratt, Director of Auction Service, Raine & Horne.

The auction of the property, at 3/9-19 Nickson Road, Surry Hills, will be broadcast live on Facebook using the Periscope app.

"Anyone with a Facebook account can log on and watch the auction live," said Pratt.

Viewers online, and in person, can also leave comments on the Facebook page.

“It makes the process more transparent as everyone can see exactly how many bidders are on hand and the bidding sequence, even if you’re in Hong Kong, Hobart or Haberfield at the time the bidding starts,” said Pratt.

“The live Facebook feeds are also a great educational tool for those considering bidding at auction for the first time, or vendors who have never sold a property at auction previously,” he said.

Pratt believe the live feed will make the auction more accessible and engaging for buyers, and will help vendors achieve the best result.