Following the ban on public auctions and open homes, some real estate agents have moved to selling properties using an online property auction platform.
As part of the measures to limit the spread of the coronavirus, the Prime Minister announced a ban on in-room public auctions and open homes. To ensure real estate can still operate as normal as it can, some agents have moved to the Openn Negotiation platform.
Australian real estate agents have sold more than $830 million in property on the platform since its inception in mid-2017. The Openn Negotiation platform is “Australia’s only” fully automated, transparent, online real estate bidding location.
“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,” Peter Gibbons, the online platform’s chief executive officer, said.
The service is delivered via an app, which essentially cuts out the need to meet in person at an auction gathering. All legal documents are completely automated, “and there is no need for an agent to meet personally with a buyer or seller”.
Mr Gibbons said agents across all major networks are using the app, including Ray White, McGrath, LJ Hooker, Elders “as well as hundreds of local agencies”.
“There are already over 2,000 agents across Australia who are certified in the use of the Openn platform. We’ve seen a 350 per cent increase for our online learning in March. We expect that to continue to grow,” Mr Gibbons added.