OnTheHouse and Openn expand partnership to bring buyers private treaty sales online

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.”

Visit onthehouse.com.au or openn.com.au to see the integration in action.

ENDS

CoreLogic media contacts: Michelle McKinnon or Santi Arya via media@corelogic.com.au or 1300 472 767.

Openn media contacts: Peter Gibbons, Managing Director via 1800 667 366 or admin@openn.com.au.

About OnTheHouse.com.au:

OnTheHouse.com.au is owned and operated by RP Data Pty Ltd trading as CoreLogic Asia Pacific (ABN 67 087 759 171), Australia’s leading independent property data and insights service provider. OnTheHouse attracts approximately over 2.5 million^*visits each month and is the home of property research for buyers, sellers and homeowners. Agencies can publish all their listings and sale results on the platform for zero cost and reach a unique audience, with 25%^# of users relying solely on OnTheHouse for their property research needs.

* Source: Google Analytics- Average monthly sessions & property page views on OnTheHouse.com.au from March – May 2023
^# May 2023 Survey of 1,400+ OnTheHouse users

About Openn Negotiation 

Openn Negotiation Limited (ABN 75 612 329 754) (ASX: OPN) is an Australian property technology company offering a proprietary cloud-based software platform to support real estate agents in selling property online with greater transparency. The Openn platform facilitates a negotiation process, featuring streamlined digital contracting and automated communication tools, which enhances a property transaction. The solution provides buyers with real-time feedback through their device on how much competition exists and where their price stands in the negotiation, resulting in an optimal sales outcome. Openn Pty Ltd (ABN 31 612 338 477) is a wholly own subsidiary of Openn Negotiation Limited.

About CoreLogic:

RP Data Pty Ltd trading as CoreLogic Asia Pacific (ABN 67 087 759 171) (CoreLogic) is a leading, independent provider of property data and analytics. CoreLogic helps people build better lives by providing rich, up-to-the-minute property insights that inform the very best property decisions. With an extensive breadth and depth of knowledge gathered over the last 30 years, CoreLogic provides services across a wide range of industries, including Banking & Finance, Real Estate, Government, Insurance and Construction. CoreLogic’s  diverse, innovative solutions help our clients identify and manage growth opportunities, improve performance and mitigate risk. CoreLogic also operates consumer-facing portals - onthehouse.com.au, properytvalue.com.au and propertyvalue.co.nz - providing important insights for people looking to buy or sell their home or investment property. CoreLogic is a wholly owned subsidiary of CoreLogic, Inc – one of the largest data and analytics companies in the world with offices in Australia, New Zealand, the United States and the United Kingdom. For more information visit corelogic.com.au.