OnTheHouse.com.au Pty Ltd, CoreLogic’s own consumer property research and listing platform, has launched the next evolution of its partnership with Australian prop-tech Openn Pty Ltd, a wholly owned subsidiary of Openn Negotiation Limited [ASX:OPN], to bring private treaty sales online with Openn Offers.
The Openn integration is ground breaking for Australian real estate, and will further digitise property transactions with OnTheHouse, empowering buyers and delivering unprecedented transparency within the real estate industry for agents, buyers and vendors.
Consumers browsing properties advertised on OnTheHouse.com.au and being sold via Openn Offers can now securely submit their offers online along with their preferred purchase terms. Buyers can also keep informed with real-time updates on other buyer activity on properties they’re interested in.
Agents have the flexibility to customise the level of transparency in their Openn Offers campaigns. Depending on the agent’s campaign settings, buyers can unlock valuable insights into the level of interest and competition on a property, such as the number of interested buyers and the highest offer made to date. Buyers, agents and vendors all enjoy the added convenience available through Openn’s sale methods of automated, digital contracts and electronic signing.
Dirk Miller, General Manager, Real Estate Solutions for CoreLogic, said the new integration is in response to consumers demanding more convenience and transparency during property negotiations, as well as positive engagement with Openn’s online auctions campaigns that were integrated with OnTheHouse in 2021.
“OnTheHouse visitors told us that missing price/value information, along with general bidding, negotiation and competition pressures, are the most frustrating parts of the buying process. Openn Offers with OnTheHouse is an innovative partnership that helps solve this pain point and enhances the home buying and selling process for our agents, vendors and consumers," Mr Miller said.
Sean Adomeit, Chief Executive Officer, Openn, said the inaugural integration with OnTheHouse had helped boost visibility and engagement with auction campaigns run through the Openn platform, with the prop-tech confident its solution for private treaty sales will be just as well received.
"Real estate listing portals play a pivotal role in enhancing awareness and engagement for the campaigns conducted by agents using our platform. We've evolved from fostering understanding and acceptance to a tangible demand for digitally empowered sales,” Mr Adomeit said.
“Buyers, sellers, and agents have not only grown more at ease with digital sales methods but actively seek them out for the convenience, transparency, and efficiency they offer. As a result, agents partnering with Openn and OnTheHouse will empower homebuyers to effortlessly view, bid, make offers, and purchase new properties with just a few clicks".
There have been over 12,000 properties sold via Openn’s digital sale methods since it launched and the businesses expect this number to surge following the broader OnTheHouse integration, as more agents see the benefits of the significant added exposure their campaigns receive through the expanded partnership.
Mr Miller added “We are focussed on providing the real estate industry with innovative solutions that enhance the property ecosystem. This integration is another step towards this, providing an additional selling tool in the kit for savvy agents adopting and leveraging technology to enhance their sales results.”