How OpenLot has Overcome the Obstacles of an Unstable Market

September 21, 2020
Share this Post: 

“Whilst many businesses have suffered devastating losses as a result of the pandemic OpenLot has gone from strength to strength because of it.”

OpenLot Founder and CEO, Qi Chen has boasted on the resilience his company has in the face of market crisis. Chen originally worked at and REA before he launched his own platform earlier this year. 

OpenLot is an all-in-one home builder marketplace that helps users throughout the entire land-buying process, from dealing with land settlement delays, separate mortgages for land and building, knowing the conveyancer, fencing and landscaping, and finding the best housing estate.

Speaking on OpenLot’s success during the COVID crisis, Chen explained that the platform has grown from overcoming the various hurdles that have come from the last few months.

“This has been supported by the HomeBuilder Grant which created three times the search volume around house and land on Google in the last four months. Adding to this growth, developers and agents are recognising buyers are staying at home searching online, as opposed to visiting display offices, which has encouraged them to adopt new platforms such as OpenLot.”

OpenLot relies on the idea that consumers know what they’re looking for. The portal just helps them along that path while offering easy-to-use avenues to find the best possible matches. 

Currently, OpenLot is only operational in Melbourne but plans to expand into NSW and Queensland within the next 6-12 months. 

September 21, 2020
Victoria has been writing about property portals and marketplace sites for Online Marketplaces for over 3 years. She is also our resident artist and is responsible for all of the infographic content on the site.

Subscribe to our mailing list to get news updates!

Enter your email address and get updates from Online Marketplaces.

Related News

Spanish Proptech Firms
Housfy Gets Funding and Casavo Expands as Spanish PropTech Market Heats Up

The Spanish PropTech market is heating up with two prominent companies in the market announcing positive news this week. Online...

Read More
Leboncoin Op 1
LeBonCoin Launches New Offering to Help Agents Win Sales Instructions

The French classifieds market leader LeBonCoin has today announced the launch of a new package for real estate agents. The...

Read More
Domain Data
Domain Acquires Data Services Provider Insight Data Solutions

Australian portal company Domain has today announced that it has agreed to acquire data services provider Insight Data Solutions (IDS)....

Read More
Carousell Ceo 1
Southeast Asian Classifieds Operator Carousell Bags $100M Round to Become Region's Latest Unicorn

The Singapore based classifieds operating company Carousell has announced that it has secured $100 million in financing. The latest investment...

Read More

Popular News