OnTheHouse.com.au Pty Ltd, the consumer property research and listing platform owned by CoreLogic, has expanded its partnership with Australian prop-tech Openn Pty Ltd, a wholly owned subsidiary of Openn Negotiation Limited [ASX:OPN], to introduce Openn Offers and bring private treaty sales into the online realm.
This collaboration marks a groundbreaking development in the Australian real estate sector, advancing the digitization of property transactions and fostering transparency within the industry for agents, buyers, and vendors.
Prospective buyers exploring properties listed on OnTheHouse.com.au and available through Openn Offers can now securely submit their offers online, along with their preferred purchase terms. Additionally, buyers can stay informed with real-time updates on the activities of other interested parties for the properties they are eyeing.
Agents have the flexibility to tailor the transparency level in their Openn Offers campaigns. Depending on the agent’s campaign settings, buyers can gain valuable insights into the level of interest and competition on a property, including the number of interested buyers and the highest offer made to date. The integration also brings added convenience through Openn’s sale methods, which involve automated digital contracts and electronic signing.
Dirk Miller, General Manager of Real Estate Solutions for CoreLogic, emphasized that this integration addresses consumer demands for more convenience and transparency during property negotiations. He noted that Openn’s Offers with OnTheHouse resolve common pain points, such as missing price/value information and the challenges of bidding, negotiation, and competition pressures. Miller stated, “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.”
Sean Adomeit, Chief Executive Officer of Openn, highlighted the success of the initial integration with OnTheHouse, which boosted visibility and engagement with Openn’s auction campaigns. Adomeit expressed confidence that the solution for private treaty sales would receive a similarly positive response. He emphasized the growing preference for digitally empowered sales methods, citing increased ease, transparency, and efficiency sought by buyers, sellers, and agents.
Openn has successfully facilitated over 12,000 property sales through its digital methods since its launch. With the expanded partnership with OnTheHouse, both businesses anticipate a surge in this number as more agents recognize the benefits of increased exposure for their campaigns.
Miller concluded by stating that the focus is on providing the real estate industry with innovative solutions to enhance the property ecosystem. He sees this integration as another step in that direction, providing savvy agents with an additional tool to leverage technology for improved sales results.
