A technology platform for agents has just passed $1 billion in sales, cementing its place in the real estate industry.
Online real estate portal Openn Negotiation — which combines aspects of private treaty, auction, expression of interest and end-date sales — announced it has now transacted over $1 billion in sales.
Peter Gibbons, managing director of Openn Negotiation, believes the platform is successful due to agents turning to something they can trust during the COVID-19 pandemic.
“Now, with even more uncertainty in the market, people are looking for processes they can trust and feel confident in,” Mr Gibbons said.
Murray Wellington from Wellington Barber Real Estate was responsible for the sale that tipped the platform over the $1 billion in sales and is thrilled to have contributed to the milestone.
“It feels great to have played a role in such a huge achievement,” he said. “I’ve actually branded part of my front office window with Openn Negotiation, which just goes to show how much I believe in the process.”
An early adopter of the process, Mr Wellington said Openn Negotiation will help the industry now and into the future.
“The industry was crying out for a process that brought trust and transparency into real estate transactions, and now we have it,” he said.
“I think it will become the preferred selling and buying method in Australia in due course.”
Mr Gibbons noted that the growth of Openn Negotiation’s platform is due to the mutual benefit of the platform and the agent.
“We thrive because the agents using Openn Negotiation succeed,” he said. “It’s always been our intention to support the industry and to help agents reach their own potential by solving some of their day-to-day hurdles.”