Online property sales platform, Openn Negotiation, has released its first quarterly report of the year, providing a snapshot of its key market trends and the rankings of top agents using the platform.
The 2021 real estate boom has accelerated buyer activity and property sales through Openn, with the average number of bids per property up 216 per cent year on year and the number of properties selling above reserve increasing by 381 per cent.
“These results really showcase how fierce the buyer competition is right now,” said Openn Negotiation Managing Director Peter Gibbons.
Clearance rates for properties sold through the platform remained strong this quarter, sitting at a median of 80.37 per cent.
The report also details the performance of top agents using the platform, featuring results across the following categories – Negotiation of the Quarter, Most Bidders on a Property, Lowest Days on Market, Highest Value of Property Sold and Highest Number of Listings.
“We feel it’s important to recognise the agents leading the way with Openn in their markets. There are some truly incredible results in this quarters’ report which demonstrate how transparency can extract the best outcome for buyers and sellers,” said Mr Gibbons.
Adam Whitford of Xceed Real Estate took out the top spot for ‘Negotiation of the Quarter’, for his sale of 84 Bridgewater Drive, Kallaroo.
The property attracted 18 bidders and sold in six days for $151,000 above the reserve. Drawing a considerable amount of interest, 66 observers watched online as it reached reserve four days before the Final Bidding Stage had commenced.
“This sale demonstrated clearly how going to the open market is in the clients' best interests. An off-market sale would never have involved this level of work, and the result would never rival a fully open and transparent marketing campaign,” said Mr Whitford.
“No matter what market we find ourselves in, there is a powerful argument for taking the property to market to achieve the best result."
First National Yamba agent, Richard Hunt, lead the pack for ‘Most Bidders on a Property’, achieving a phenomenal 22 bidders on one of his lots sold in Yamba, New South Wales.
“We received unprecedented levels of enquiry, attracting a total of 36 bidders on the six properties which all sold well above vendor expectations,” said Mr Hunt.
“The Openn Negotiation platform makes it so easy for bidders to participate and the process is very transparent, so this also serves to reinforce buyer confidence.”
To view the complete list of top performing agents and national data for the quarter, download the report here.