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Openn, CoreLogic team up to boost online auctions

By Bianca Dabu
24 August 2021 | 10 minute read
Peter Gibbons James Vaughan reb

A new partnership aims to champion an innovative integration between online property auctions and real estate listings platforms.

First announced on the ASX, CoreLogic’s listing portal and property research platform onthehouse.com.au has joined forces with proptech company Openn Negotiation to launch a technical integration connecting listing platform visitors with live property auctions on Openn.

Through the partnership, consumers browsing properties via onthehouse.com.au can see the real-time status of any ongoing online auction on Openn, including current bids.

From an onthehouse.com.au listing, they will be able to link through to open and register interest on the property or join an auction as a genuine bidder.

According to CoreLogic’s senior leader for product solutions, James Vaughan, the partnership will ultimately address the need for more transparency among buyers, sellers and agents as the property negotiation process migrates online amid a COVID-shifted market.

“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,” Mr Vaughan said.

“The partnership 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.”

Mr Vaughan revealed innovations such as this have seen a strong uptake from agents seeking solutions for a safe and transparent way to buy and sell a home.

In fact, approximately 70 per cent of Openn properties have already been listed with onthehouse.com.au, a number expected to surge even further as more agents utilise the partnership

According to Openn Negotiation managing director Peter Gibbons, the reach of real estate listing portals allows them to “drive even more interest and eyeballs to the online property transactions agents are running through our platform”.

Ultimately, the partnership between CoreLogic and Openn Negotiation offers a peek at “the future of property listing and transacting”, Mr Vaughan said.

“Partnering with a like-minded and market-leading proptech company like Openn was a no-brainer… [as we] enable agents to transcend barriers such as geography, and help the industry to not only survive, but to thrive, as we navigate through the pandemic and ongoing lockdowns,” he concluded.

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