The Australian online home sales platform Openn Negotiation has announced that its product has now been behind $1 billion in real estate sales. The company, which was founded by tech developer Peter Gibbons and real estate agents Peter Clements and Brad Glover in 2016, recently expanded its operations to New Zealand where it hopes to have the same impact as that already seen in the Australian market.
Openn Negotiation combines the best aspects of both a private treaty and auction to make sure that sellers get the best deal possible and that offers made are transparent for all parties. Similar technology exists in Europe in companies such as Ireland based Beagel and the adoption of transparent online bidding systems seems to be taking off in many property markets as proptech adoption accelerates in the wake of the global pandemic.
