openn-negotiation-opn-asx-ticker-feature
Image: Canva, Openn Negotiation.
  • The latest deal will bring concurrent pilots in North America to five
  • OPN announced pilots in Canada and North Carolina in early April
  • This pilot will see access to North California and Bay Area markets

Openn Negotiation (ASX: OPN) has signed yet another pilot on the North American continent.

In early April, the company announced developments in Canada and the USA, where OPN signed a pilot with The Canadian Real Estate Association (CREA) and Triangle MLS in North Carolina.

The latest pilot sees Openn Negotiation sign with bridgeMLS to access the Northern California and Bay Area markets, bringing the number of concurrent pilots across the continent to five.

Duncan Anderson, Openn Executive Director/CTO, and Openn NA President, said, “This is our first Pilot on the USA west coast, in one of its largest property markets. We are thrilled by the opportunity to partner with bridgeMLS to introduce Openn Offers to the northern California and Bay Area marketplace.”

Eric Bryant, Openn NA Director of Operations said, “bridgeMLS is a partner that brings great value to the table in our pilot phase because of their cutting-edge attitude towards advancement of new technologies in their marketplaces. These types of partners are valued in the North American expansion.”

The pilot will initially run for a period of up to six months, during which Openn NA. and bridgeMLS will test and evaluate the potential market fit and demand for the Openn platform with bridgeMLS members.

The parties will explore, through the Pilot program, a longer-term agreement for ongoing collaboration with a view to expanding the roll out of Openn Offers to the Bay Area Region and integration into bridgeMLS’s system platforms; ConnectMLS and Paragon.

Either party may terminate the Pilot Agreement at any time by giving the other party 30 days written notice.

The Pilot Agreement otherwise contains various provisions considered customary for an agreement of this nature, including warranty, liability, intellectual property, publicity and confidentiality provisions.

At this stage, an accurate estimate of revenue generated from the Pilot is not able to be assessed as there are no commercial terms in place. The Company will update the market when appropriate.

You May Also Like

Australian construction cost increases expected to peak in 2022

While material price increases are now embedded in construction contracts, the cost of labour is expected to drive further increases

Snowdon Developments goes into administration

The collapse has left 550 homes in limbo, and $17.8 million owed to creditors

Sydney, Melbourne, and Brisbane offices strong and stable for Q2

Rents and vacancies stable and steady, with Brisbane likely to need over 265,000 square metres to come online soon