For Wes Thornton, every day is auction day.

The Real Estate Geelong founder has given bidders a wider scope of time to make bids on properties through Openn Negotiation.

From the time the property is launched on the sales and digital platform, buyers can become qualified bidders by signing contracts upfront and then having their bid made live.

As more buyers join, the leading bid increases and becomes the new advertised price for the property. 

Having used Openn for the past 12 months, Mr Thornton said its potential was obvious almost immediately.

"I recognised what it could do in the marketplace," he said.

"What I love about Openn is its packets of information that are being sent, which streamlines the whole process.

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"The transparency takes away the unknown factor of whether there is another bid on the property."

Openn Negotiation includes a final bidding stage, which is usually four weeks after the property is launched.

This is where qualified buyers compete under a two-minute countdown clock, which resets every time a bid is made.

Once all bids are made and the bidding clock runs out, the property is either sold if it met reserve, or is passed in and open to further negotiation in the traditional way.

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134 Maitland Street, Geelong West was sold for $867,000 through Real Estate Geelong, which engaged the Openn Negotiation platform field bids from as far away as the UK. Source: Real Estate Geelong.

Mr Thornton said the platform brought together the best parts of the private sale and the auction processes.

"An auction has a timeline which is great because it forces people to make a decision and creates urgency.

"On the other hand, you can't buy subject to finance, which Openn negotiations offer.

"Not one of my properties that have been sold through Openn has gone for less than what the vendor expected."

Click here to find out more about Openn Negotiation.

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