BUYERS SUBMIT A
STARTING PRICE
You list the property, upload it to the Openn Negotiation platform and any other browsing portals to begin the campaign.
You'll show the property to buyers and invite them to submit their starting price and input any terms for the Sellers approval in the app.
APPROVAL
You work with the seller to approve pending buyers. Once you have complied with the Auction legislation in your state, the pending bid will become a live bid and the buyer is qualified to participate.
With all buyers formally contracted from the start, the current bid can be revealed to the market, even if it's below the reserve price. Qualified buyers can now compete with complete transparency and the knowledge they can't miss out.
COMPETITION
BEGINS!
You will continue to work with the seller and any interested buyers to get the best result.
Qualified buyers can still improve their price at any time and all interested parties will see the countdown clock until the Final Bidding Stage begins, the current highest bid and bidding timeline..
The Openn Negotiation process
The Openn Negotiation process has two stages:
- The campaign bidding stage and
- The final bidding stage.
Only qualfiied buyers, approved by the Seller can participate in the Final Bidding Stage. The Seller can choose to change the reserve price and the Final Bidding Stage date throughout the Campaign Bidding Stage.
Common agent questions
How much does it cost?
There is a $400 (plus GST) fee for conducting an Openn Negotiation through the Openn platform.
What if a buyer pulls out?
As with any sales process, if the buyer does not wish to participate, they can withdraw at any time.
What if a buyer want to buy it now?
If a Sole Bidder enters a price that is acceptable to the seller, the property can be sold to them immediately
If there are other qualified bidders on the property, the Final Bidding Stage must be conducted in order to give other bidders a fair chance to purchase the property.
Download the app
Openn Negotiation can be downloaded to your mobile device via the App Store or Google Play. Search for the mobile app from your mobile device, or click on the store links at the bottom of this page for more details.
Sign up here
CURIOUS?
Want to watch a negotiation without
commitment? Sign up today, even if
you’re not ready to buy, to watch a
real sale happen in real time.
FIND AN AGENT
Real Estate agents have to be
officially certified as an Openn
Agent to use this system. If you’re
looking for an approved agent,
we have them all here, so you can
choose the right person for you.
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