Following significant adoption of the Openn Negotiation selling method, realestate.com.au has launched an integration between the platforms, designed to provide a better experience for buyers.

The REA Group released the online auction feature in response to the national ban on in-person auctions.  

The integration allows buyers to navigate directly to the Openn Negotiation listing and get qualified to participate in the bidding process. 

At a Glance:

• Integration of platforms with Openn Negotiation and realestate.com.au
• Openn Negotiation launched in 2017, registering 28,000 app users, training over 2000 agents and facilitating $900 million in property sales
• Openn Negotiation offers a unique hybrid between private treaty and auction

“Throughout COVID-19 our aim has been to help minimise market disruption and to ensure buyers and sellers could continue to transact property virtually.” said REA Group Chief Sales Officer, Kul Singh.

“We are pleased to have partnered with select online auction providers for the new feature, including Openn Negotiation.” 

Launched in 2017, Openn Negotiation has grown rapidly to become a market leader in online property sales – registering 28,000 app users, training over 2000 agents and facilitating more than $900 million in sold property. 

Despite restrictions on traditional auctions easing, Mr Singh is confident online auction platforms are here to stay. 

“We are starting to see restrictions ease and we’re also seeing an increase in search activity on realestate.com.au each week," said Mr Singh.

"Online auctions can help reach multiple online bidders, no matter where they are.

"They will continue to play a role when restrictions are lifted and can help extend the reach of in-person auctions.” 

Openn Negotiation's Managing Director, Peter Gibbons, said they were confident they would continue their steep incline of growth.

"(Openn Negotiation) offers a unique hybrid between private treaty and auction — allowing bidders with conditions to participate and bids to be revealed transparently to all parties throughout a 4-week campaign.

"Agents who have taken the time to learn the process and used it for the first time, are telling us they can see how it will become the ‘new normal'."

Find out more about Openn Negotiation here

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