Australian-listed property technology company, Openn Negotiation Limited (ASX: OPN) has agreed to an advancement to a partnership with leading online property research and listing portal OnTheHouse.com.au.
OnTheHouse is a wholly owned subsidiary of property analytics and research group RP Data Pty Ltd t/a CoreLogic Asia Pacific.
Consumers browsing properties advertised on onthehouse.com.au will be empowered to securely submit their offers online along with their preferred purchase terms via the availability of Openn Offers embedded within the onthehouse.com.au portal.
CoreLogic is the leading provider of property analytics and data in the Australasian market. CoreLogic owns and operates onthehouse.com.au, an ‘all in one’ real estate research site which attracts an average of over 2.2 million visits every month.
The platform provides information about properties for sale, for rent or recently sold, as well as estimated value ranges on 10million+ properties across the country, along with other market insights and trends to help consumers with decisions about where and when to buy, sell or rent.
Openn and CoreLogic have previously announced an intention to collaborate to promote Openn’s products to enhance transparency within the property sales process for the benefit of CoreLogic’s 9,000 real estate agency subscribers throughout Australia.
The latest announcement that Openn Offers will be available to users of onthehouse.com.au is a substantial step forward in this commercial partnership and will lead to the delivery of meaningful revenue in the Australia/New Zealand marketplace.
Openn Offers allows buyers to 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.
The data captured through the property sales process offers a future potential revenue stream in addition to Openn’s existing subscriber fees.
The partnership with OnTheHouse and CoreLogic complements Openn’s commercial alignments with Southeast Asian online real estate platform, Digital Classified Group Pty Ltd and the Canadian Real Estate Association which provide Openn with low cost, high impact market entry opportunities alongside respected and established property industry participants in multiple jurisdictions.
It’s extremely satisfying for Openn to advance our relationship with CoreLogic towards substantive commercial and revenue benefits. The opportunity to embed Openn Offers within onthehouse.com.au, a platform that attracts over two million visits each month, aligns us to a leading property sales platform and allows us to reach its highly engaged audience,” Openn Negotiation CEO, Sean Adomeit, said.
“We anticipate that the partnership with OnTheHouse will provide a great benefit to our penetration within the ANZ property market and stands to vastly improve the transparency landscape for buyers, sellers and agents.”