How to Use Transparency Settings to Negotiate the Best Price on Openn

WHAT THIS COVERS

Why Transparency Matters

• Transparency is described as one of the most powerful tools within the Openn platform.
• Used correctly, it creates competition among buyers, generates FOMO (fear of missing out), and provides social proof that validates what the agent is telling buyers.
• The recommendation is to use transparency settings in an agile manner — activating different levels at the right moments rather than turning everything on from the start.

Scenario 1: One Offer, No Other Interested Parties

• If the offer is strong and meets vendor expectations, do not turn on any transparency. Handle the negotiation one-on-one, as you would in a traditional sale.
• If the offer falls short of vendor expectations, toggle on Number of Buyers and Observers. This signals to the market that an offer exists and competition is present, which can generate FOMO if new buyers emerge.

Scenario 2: Multiple Offers at Similar Price Points

Use transparency progressively as the campaign moves toward its close:

1. Immediately — Turn on Number of Buyers and Observers. This confirms to all buyers that the competition is real and that the agent is not fabricating interest.
2. Last 24 to 36 hours — Turn on Property Ranking. This shows buyers where they stand relative to others based on price, which drives them to improve their offers to reach first position. Avoid activating this too early, as it may deter a late high offer from coming in.
3. Last 6 to 12 hours — If strong competition remains, toggle on Highest Offer (shows only the top offer) or Offer Value (shows all offer amounts). This full or partial price transparency acts as social proof — buyers can see they are not overpaying and become more willing to push their price higher. In a competitive market, buyers who have already missed out on multiple properties are less likely to lose another deal over a small gap in price.

Scenario 3: Multiple Offers with One High Outlier

• Toggle on Number of Buyers and Observers as soon as multiple offers are received.
• Do not activate any further transparency levels. If the outlier buyer can see how far ahead they are, they may lower their offer or pull back.
• Instead, contact each buyer individually and let them know — using Openn as evidence — that there are multiple offers on the table.
• Set a deadline and ask all buyers for their best and final offer.
• This approach mirrors how experienced agents already operate in multi-offer situations, but with the added credibility that the platform provides.

Example from the video: A property priced at $3.5 million receives four offers: $3.6M, $3.3M, $3.2M, and $3.1M. The agent turns on the number of buyers and observers only, engages each buyer individually, and uses the platform to validate the competition before calling for best and final offers.

KEY TERMS

• Transparency Settings — visibility controls on Openn that determine what offer and buyer information is shown to active buyers during the campaign.
• Number of Buyers and Observers — shows how many offers are currently on the table and how many people are watching the campaign.
• Property Ranking — shows each buyer their position relative to others based solely on price, without revealing the actual offer amounts.
• Highest Offer — displays only the single highest offer currently in the campaign.
• Offer Value — shows every buyer's offer amount, providing full price transparency.
• FOMO (Fear of Missing Out) — the psychological pressure a buyer feels when they believe they may lose a property to another buyer, which can motivate them to increase their offer.
• Social Proof — the effect of buyers feeling more confident increasing their offer when they can see others are offering at a similar or higher level.
• Outlier Offer — an offer that is significantly higher than all other offers in a multi-offer campaign.
• Best and Final Offer — a request to all buyers to submit the highest offer they are willing to make, typically used near the end of a campaign.
• Agile Manner — the recommended approach of turning transparency levels on selectively and progressively, based on what each specific situation requires.
  
  

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COMMON QUESTIONS

1. Should I always turn on transparency when I receive an offer?
   - Not necessarily. If you have one strong offer that meets vendor expectations, it is recommended to negotiate one-on-one without any transparency. Transparency is most valuable when there is genuine competition to amplify.

2. When is the best time to turn on Property Ranking?
   - Around the last 24 to 36 hours of the campaign, once you are confident no further new offers are likely to come in. Activating it too early risks deterring a buyer who might otherwise have submitted a higher offer.

3. What should I do if one offer is much higher than the rest?
   - Only turn on Number of Buyers and Observers to confirm competition exists, but avoid revealing rankings or offer values. This protects the outlier buyer from seeing how far ahead they are and potentially reducing their offer.

4. How does transparency help validate what the agent tells buyers?
   - Openn displays real-time offer and buyer data that buyers can see directly through the platform. This means agents do not need to rely solely on verbal assurances — the system provides objective, verifiable evidence of competition.

5. Can I change transparency settings partway through a campaign?
   - Yes. The settings can be toggled on at any point during the campaign, which is exactly why the agile approach is recommended — agents can activate additional levels of visibility as the campaign develops and circumstances change.