ASX ANNOUNCEMENT / MEDIA RELEASE
onthehouse.com.au Pty Ltd, CoreLogic’s own listing portal and property research platform, has partnered with Australian-listed property technology company Openn Negotiation Limited [ASX: OPN] to launch a technical integration connecting onthehouse.com.au visitors with live property auctions on Openn.
The partnership will allow consumers browsing properties listed with onthehouse.com.au to see in real time the status of any online auction running on that property with Openn, as well as the current bid throughout the campaign phase. From the onthehouse.com.au listing, consumers can link through to Openn to join the auction as a genuine bidder or simply register their interest on the property (when made available by the agent).
James Vaughan, Senior Leader, Product Solutions for CoreLogic said the partnership is an innovative new way for buyers, sellers and agents to transact transparently throughout the property negotiation process.
“Digital sales have been on the rise over the past 12 to 18 months, spurred on by the COVID pandemic as agents were forced to rethink their sales strategies and formulate ways to continue campaigns through the most unprecedented of times,” said Mr Vaughan.
“We are always looking for ground-breaking ways to make the home buying and selling process easier for our agents, vendors and consumers. The partnership between onthehouse.com.au and Openn, and integration of portal and platform, is something we haven’t really seen anywhere else and provides buyers with a new, innovative, transparent and convenient way to negotiate property transactions and to bid on properties they love.”
Approximately 70% of Openn properties are listed with onthehouse.com.au, and the businesses expect this number to surge as more agents see the benefits of the significant added exposure their campaign receives through the partnership.
Openn’s Managing Director, Peter Gibbons, said “Thanks to the reach of real estate listing portals, we’re able to drive even more interest and eyeballs to the online property transactions agents are running through our platform. We’re excited to bring this advancement to market in partnership with onthehouse.com.au, given its large user base of active property buyers, sellers and agents.
“We’ve been experiencing rapid growth not only in acceptance but popularity of the online negotiation space as the market becomes more comfortable and confident with digital sales methods. By connecting our platform with the onthehouse.com.au listings portal, we’re enabling potential buyers to not only see property negotiations and pricing updates in real time, but to be able to express their interest in a property and even digitally sign contracts if they’re the winning buyer.
“There’s been a strong uptake from agents seeking solutions for a safe and transparent way to buy and sell a home. It’s also really exciting watching a final bidding stage on a property and now home buyers browsing onthehouse.com.au will be able to watch, bid and buy a new property within just a few clicks.”
Mr Vaughan added: “This is the future of property listing and transacting. It enables agents to transcend barriers such as geography, and helps the industry to not only survive, but to thrive as we navigate through the pandemic and ongoing lockdowns. Partnering with a like-minded and market- leading proptech company like Openn was a no-brainer, and we can’t wait to hear what our agents and consumers think of this integration.”