Online property sales platform, Openn, has released its first quarterly agent performance report of the new financial year, providing a snapshot of key market trends and the rankings of top agents using the platform.
The continued strength in the Australian property market is reflected in the accelerated buyer activity and property results reported by Openn, with the number of bids/offers per property up 71 per cent year on year and 24 per cent of properties selling for more than $50,000 above expectations.
“These results demonstrate why it is difficult for agents to accurately price properties right now, the market is simply moving so swiftly,” said Openn’s Managing Director, Peter Gibbons.
By allowing buyers to submit offers digitally, Mr Gibbons says agents can capture every buyer and give them multiple opportunities to improve their offer in a consistent and easy to manage process.
“The ability to run a transparent digital negotiation helps agents maintain positive relationships with buyers – as they can feel comfortable the process was fair and they are kept in the loop every step of the way.
“For sellers, it means they get the best chance to extract the highest price from the market and can feel confident they aren’t underselling their property,” he said.
Clearance rates for properties sold through the platform remained strong this quarter, sitting at a median of 85.7 per cent.
The report also details the performance of top agents using the platform, featuring results across the following categories – Campaign of the Quarter, Most Buyers on a Property, Lowest Median Days on Market, Highest Total Value of Property Sold and Highest Number of Listings.
Simon Watts of Real Estate Central was a standout performer, taking out the top spots for Highest Total Value of Property Sold and Highest Number of Listings.
Mr Watts began using Openn shortly after the company launched in the Northern Territory in August last year.
“We happened upon Openn at a really great time, actually. The market had just begun to recover, and leveraging that recovery with this new digital sales technology has contributed to our buoyant year,” he said.
Mr. Watts says that while adopting new processes can be intimidating, agencies need to use digital sales methods to stay relevant.
“Times are changing, and the world is getting more and more digital. We need to take a hold of these new processes to avoid being left behind. People are used to buying things online via eBay or Amazon, and real estate should be no different - you’re buying and selling; it’s a transaction. It should be transparent.”
Here were the other leading agents of the quarter:
To view the full list of top performing agents, download the report here.