Professionals Openn
Image supplied.
  • Professionals agents will be incentivised to adopt the Openn process
  • A month ago, Openn listed on the ASX ('OPN')

A month ago, five-year-old Perth-based proptech Openn Negotiation (ASX: OPN) started trading on the ASX. The first few month has seen the company perform well on the boards, with its share price staying above the IPO level of 20 cents.

The Openn platform allows real estate agents across Australia and New Zealand to run what it calls “transparent” property transactions.

Buyers interested in a property can register and make bids in a live auction-like environment. Rather than the real estate agent running between various buyers with competing offers, the information is all visible on the online platform.

Openn screenshots
Screenshots of the platform in action. Image – Openn prospectus, May 2021.

Partnership with The Professionals

A new partnership with the Professionals real estate group has been signed, two weeks after a similar arrangement with the Re/MAX property franchise.

Under the arrangement, Professionals agents will be incentivised to adopt the Openn
process, upload their listings and use the Openn platform to buy and sell properties, for their clients.

David Crombie
David Crombie. Source – website

“The partnership comes after a substantial increase in activity within the property sector and follows a period where the industry has been forced to pivot the way it executes sales, given the restrictions imposed because of the COVID-19 pandemic.”

David Crombie, CEO, Professionals

Established in 1976 in Queensland, Professionals now operate a network of 225 real estate offices across Australia, New Zealand, Fiji and Papua New Guinea.

“As demand for property continues to rise and buying a home becomes more competitive, it’s more important than ever to offer solutions that the agent, seller and buyer can benefit from,” said Peter Gibbons, Openn Managing Director and co-founder.

“Our partnership with Professionals allows their agents to provide both sellers and buyers a transparent and unique sales process on a successfully proven platform that delivers results.”

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