Openn Negotiation currently have 191 live auctions across Australia.
We invite you to join an auction to see how it works for yourself by clicking here. https://www.openn.com.au/app/search/list?page=1
Agents and Auctioneers using Openn Negotiation have sold over $848M in property since mid 2017 with a clearance rate of over 63%. The platform is not like the other unreliable streaming solutions that have appeared in the last two weeks.
What you will see at an Openn Negotiation Auction:
Reliability
Openn Negotiation experienced 99.9% uptime over the last 6 months including during scheduled maintenance.
Openn Negotiation deliberately avoid using features known to fail under demand such as live streaming.
Openn Negotiation does not stream the auction so it is not experiencing any of the same failures that other platforms have reported in the past two weeks.
There have been no withdrawn or cancelled auctions due to technical failure on Openn Negotiation.
Transparency
Openn Negotiation is a fully transparent method of sale – at all times the seller, agent and buyers can see the current bid, how many registered bidders there are and how long until the final bidding stage.
With Openn, buyers can submit flexible terms for the vendors approval. This allows more buyers to participate who would usually be excluded from a traditional auction
All buyers sign contracts up-front and there is no cooling off period. Sellers and agents get real-time feedback of how many legally committed buyers there are, from as early as day one.
While campaigns generally run for 4 weeks, properties can sell as early as the first day.
Openn is NOT like eBay – where often the strategy is to wait to the last second and out-bid
everyone. Every time a bid is made, the bidding clock resets and gives everyone 2 minutes to bid again.
Fully Automated but not a Replacement for Agents and Auctioneers
Openn Negotiation falls under auction law and an Auctioneer is required to facilitate.
The Agent is central to the negotiation – They are fully in control of the app and bidders –
managing increments, pausing the process and adjusting the reserve price.
About Openn Negotiation
Openn Negotiation is Australia's only fully automated transparent online real estate bidding platform.
Australian real estate agents have sold more than $830M in property on the Openn Negotiation platform since its inception in mid 2017.
Openn is not a streaming service broadcasting a traditional street auction. The service is delivered via an App so there is no physical meeting at an auction gathering. The agent remains completely in control of the sale and all legal documents are automated on the App so there is no need for any physical contact with a buyer or seller to sign documents.
Openn Negotiation's Chief Executive Officer, Peter Gibbons, says there has been a significant increase in enquiries from agents looking to get trained in the platform and the company is well placed to manage the influx.
"Over the past three years we have made a significant investment in the Openn Platform to make sure it is a seamless and transparent way for buyers and sellers to interact," Mr Gibbons said.
"There are already over 2,000 agents across Australia who are certified in the use of the Openn platform. We've seen a 350% increase in registrations for our online learning in March. We expect that to continue to grow."
"Currently we have agents registered from all the major networks in Australia including Ray White, McGrath, LJ Hooker and Elders etc. as well as hundreds of local agencies. You should ask your agent if they are Openn Certified or visit our website yourself to
