Openn has been in operation for just over a year now, and what a journey it has been so far, not just for our platform, but for the real estate industry as well.
We launched in April 2017, and during this time, we’ve seen some phenomenal results for buyers, sellers and real estate agents alike, with happy smiles all around.
As of last week, Openn saw it’s 500th property uploaded onto the platform and ready to sell, which is such a significant milestone to celebrate with everyone.
But there’s a lot more we would like to share, so let’s take a look back at the last 12 months and see how Openn has changed Australian real estate for the better.
What is an Openn Negotiation?
Openn Negotiation is an online property purchasing platform designed to be transparent and fair for both buyers and sellers. Managed by professional real estate agents, it allows qualified buyers to openly negotiate on price with the advantage of knowing exactly how many real competing buyers there are.
Buyers are only able to participate once their terms and conditions (which can be flexible) are accepted and agreed to by the seller.
An Openn Negotiation campaign usually lasts between 1 - 4 weeks, but properties can sell earlier if the seller chooses or if the reserve price is met early.
Reflecting on our first 12 months
With the fast-paced nature of business today, it’s so easy to lose track of time; however, new innovative technology that reaches its first year is definitely something worth celebrating. We’re certainly proud of what we achieved so far.
We understand that people can be a little nervous to give new technology a try; however, you may feel more comfortable when you see tangible results being made by genuine buyers, sellers and agents.
We’re all about transparency in real estate after all, so we decided it was a good opportunity to share our progress so far.
Since we launched in Australia on the 1st of April 2017:
- Over 538 agents are now trained and registered as Openn users, and this number is growing every month.
- 500 + properties have been listed on Openn Negotiation to sell.
- 4,450 + real buyers, sellers and observers have signed up to the platform.
- 1,280 active bidders have made almost 3,000 bids.
- Roughly $1.16 billion in total bid value during the final bidding stages of properties going for sale.
- Just over $2.5 billion worth of total bids.
- $152+ million in total property sold in the final bidding stage.
- Average days on market for sold properties of just 30 days.
We thank everyone for their support in working with us to celebrate our first birthday, and our team looks forward to an even bigger year as we roll out the Openn App across the rest of Australia.
Want to know more about Openn?
Certified Openn agents are leaving certification courses knowing:
- How to create competition with transparency in private treaty.
- How to get the best possible price for their vendors.
- How to beat competitors who over-price to win listings.
- How to get your buyers to stretch beyond their 'best & final' and ultimately...
- How to be an agent that everyone LOVES.
This ground-breaking technology makes the process exciting, enjoyable and rewarding for all parties and doesn’t leave anyone frustrated in the dark.
To learn how you can embrace Australia's most successful online auction process, you can attend an upcoming Openn Certification course for FREE. Sign up here: https://hubs.ly/H0cv9Pb0