Online auction platform Openn Negotiation has released the top performer on the platform for the September quarter, against a backdrop of falling clearance rates and increasing days on market.
That accolade was achieved by Paul Fraumano of Ray White Ormeau with the sale of a property in Ormeau in Queensland. It had 11 bidders, 20 observers and sold at 4.23 per cent above reserve.
Openn Negotiation called this a “very impressive” sale, for several reasons.
“Firstly, the days on market were only 17. This is in comparison to 76 days, which is the median for the suburb of Ormeau, and 64 days for the state of Queensland.
“The 11 active bidders involved in the sale created a healthy level of competition which drove the price to achieve market value, well above the vendor’s reserve price.”
Openn Negotiation said that its point of difference is its ability to combine the strengths of auction and private selling methods.
“It’s important to remember that behind each successful sale is an Australian family, couple or individual who wanted to sell their home, and another wanting to buy.
“Excellent results like these mean a happy outcome for all involved which makes a real difference in their lives, especially in the cooling market we are experiencing today.”
Openn Negotiation said that the platform provides a level of stability in a turbulent market.
“It’s reassuring knowing that this new platform is able to provide an effective way to drive successful results while accommodating the needs of agents, buyers and sellers alike.”