Real Estate Industry News

Openn Negotiation surpasses $2 billion in sales

Online real estate sales platform Openn Negotiation has just celebrated a major milestone, announcing it has achieved $2 billion in property sales.

Openn Negotiation launched in April 2017 and enables agents across Australia and New Zealand to facilitate transparent property transactions. 

The technology digitises the sales process, creating unique depth of market data and efficiencies throughout the real estate journey.

The $2 billion milestone comes only nine months after the platform announced it had reached $1 billion in property sales.

“To put that into perspective, it took Openn just over three years to reach the first billion of property value sold through the platform,” Openn Negotiation Managing Director Peter Gibbons said. 

“So the rate of growth we’re seeing is extraordinary.”

Mr Gibbons said the latest achievement was the beginning of what looks set to be a landmark year for Openn.

“We’re only a few months into 2021 and we’ve experienced some really exciting wins,” he said.

“In March we were named in the 2021 REACH Australia class and we’ve had two consecutive record months of property uploads.”

With the market currently booming across the nation, Mr Gibbons said agents were realising the benefits of transparency.

He also cautioned agents against accepting offers without fully testing the market.

“There’s properties being sold privately in a few days ‘above expectation’, but without competition,” he said. 

“They may still not have reached the maximum value possible.

“This is why Openn is seeing so much growth. 

“Agents are recognising Openn enables the buyer who will pay the most for the property to secure it, which is of benefit to both the seller and the buyer, and of course, the agent.”

Listings are currently tight, which is why Mr Gibbons said it made sense to use platforms that enhance relationships with buyers – as often they are also sellers.

“If you can deliver a positive experience to buyers who miss out, you’ve got a much greater chance of winning their listing if they have something to sell,” he said.

For more information about Openn Negotiation, or to book a free demo, visit openn.com.au.

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