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Online auction platform hits quarter of a billion sales milestone

By Open Negotiation
17 December 2018 | 1 minute read

Promoted by Open Negotiation.

It was just 20 months ago that a new ground-breaking way to sell and buy real estate was launched in Western Australia.

Today, over $4.3 billion worth of bids have been pledged through the platform and the value of property sold has gone well above a quarter of a billion dollars — reaching $284 million. Called Openn Negotiation, it is changing the way the industry operates and the way the customers view agents– for the better.

Openn Negotiation was the brainchild of Peter Clements, Director of Mint Real Estate in Perth. Developed to inject life back into a very sluggish WA market, it has created a dramatic paradigm shift in the way buyers, sellers and agents view and navigate buying and selling.

Until now, we have been limited to traditional processes such as Auctions and Private Treaty/Sale. These methods generate very little competition or transparency, leaving buyers and sellers confused and frustrated.

Now, Openn Negotiation offers a process that combines the best aspects of Private Treaty/Sale, Auction, Expression of Interest and End Date Sale into one open and transparent procedure that is trusted by all parties and is easy to manage. And, importantly, the Openn method is resulting in average sale times of under 31 days.

Peter Clements, the founder of Openn Negotiation said, “it goes to show that the market recognises the need for transparency in property transactions. Openn Negotiation gives them this.”

An early adopter of Openn Negotiation was Natalie Hatton of Ray White, who sold 2/27 Leonora Street which tipped the platform over $200 million in sales earlier this year, and this is what Natalie says about Openn:

“In my almost 15 years in the industry, I’m loving the fact the Openn process allows me the opportunity to build genuine relationships and really prove the value I bring to the table for both parties, whilst being open and transparent.”

2/27 Leonora Street - the property sold by Openn Negotiation agent Natalie Hatton.

With most of the early sales coming from WA, where many agents are already using Openn, and with a growing number joining across Australia, Openn Negotiation is fast gaining popularity as an alternative method available for achieving fantastic results.

Want to find out more? If you haven’t yet experienced the Openn process yourself, or would like to get a feel for the current market, why not sign up now and start observing!

Online auction platform hits quarter of a billion sales milestone
2018 5 4
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