Total
0
Shares
Openn Negotiation (ASX:OPN) - Managing Director, Peter Gibbons
Managing Director, Peter Gibbons
Source: Openn
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Property technology company Openn Negotiation (OPN), and CoreLogic have launched a technical integration to deliver on strategic alliance
  • Consumers viewing homes listed on OnTheHouse will be able to monitor online auctions happening on that property with Openn in real-time
  • Neither party is paying any fees for the trial arrangement, however, this position may change if the agreement is extended
  • It follows from a partnership agreement reached with real estate agency The Professionals and RE/MAX Australia earlier in the month
  • Shares in Openn Negotiation have tanked on the market this evening, falling 11 per cent to 20c

Property technology company Openn Negotiation (OPN), and CoreLogic have launched a technical integration that connects visitors to CoreLogic’s OnTheHouse website with live property auctions on Openn.

Consumers viewing homes listed on OnTheHouse will be able to monitor the status of online auctions with Openn in real-time, as well as the current bid throughout the campaign phase.

Consumers may connect to Openn from the OnTheHouse listing to join the auction as a real bidder or just register their interest in the property when made available by the agent.

CoreLogic senior leader product solutions James Vaughan, described the partnership as a “novel new method for buyers, sellers, and brokers 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.”

“The alliance 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 per cent of Openn properties are listed with CoreLogic through OnTheHouse, and Openn anticipates this figure to expand as a result of the partnership.

The strategic alliance agreement was executed on April 12 2021, prior to Openn’s admission to ASX, with the agreement of an initial six-month term where either party can terminate given 30 days notice.

Neither party is paying any fees for the trial arrangement, however, this position may change if the agreement is extended.

Openn managing director Peter Gibbons said the real estate listing portal will drive more interest and eyes to the online property transactions on Openn.

It follows from a partnership agreement reached with real estate agency The Professionals and RE/MAX Australia earlier in the month.

Shares in Openn Negotiation have tanked on the market this afternoon, finishing off the day down 13.3 per cent to 19.5c.

OPN by the numbers
More From The Market Herald

" Ingenia Communities (ASX:INA) purchases portfolios for $441m

Ingenia Communities Group (INA) has acquired additional lifestyle community portfolios for $441 million.

" SRG Global (ASX:SRG) secures projects valued at $70m

SRG Global (SRG) has secured two specialist façade contracts in Perth valued at approximately $70 million.

" Home values rising at softest rate since January

Australian property values increased by 1.3 per cent over November, marking the 14th month in a row that CoreLogic’s national home value inde…

" Perth industrial market going from strength to strength

The industrial market is the most sought-after commercial asset class in Australia at the moment, and Perth is no exception.