Open Negotiations: Forrestfield-based real estate agent champions ‘eBay for selling houses’ app

Vendor Noel Harland and Open Negotiations champion Aaron Lane. Picture: Bruce Hunt
Vendor Noel Harland and Open Negotiations champion Aaron Lane. Picture: Bruce Hunt

IT has been likened to eBay for selling houses with predictions 10 per cent of all home sales will be using a new WA-designed app within a year.

Forrestfield-based real estate agent Aaron Lane from Professional Stirling Clark said Open Negotiation was an open and competitive online auction that was gaining popularity among sellers.

“The only way to achieve a great result in any real estate market is to have multiple people who all want to buy the same home, much like the Olympics where competition creates world records, the same can be said for achieving top dollar in selling your home,” he said.

“The Open Negotiation app allows sellers to pre-approve terms and conditions from people interested in purchasing their home and allows the buyers to then participate in the Open Negotiation.

“The approved buyers are then able to bid for the property in an online auction where they are able to see what the other parties are offering.

“Approved buyers are asked to submit an opening bid with the first opening bid setting the advertised price for the property.

“If a higher opening bid is submitted then this becomes the new advertised price.”

Mr Lane said Open Negotiation was a good option for buyers and sellers.

“The auction takes place four weeks after first launching the marketing which helps keep days on market down for sellers because we all know that after four weeks properties get a stigma and people think what’s wrong with it,” he said.“On the flip side buyers often miss out on properties they love when purchasing through traditional private treaty sales and can miss out on their dream home by only a few thousand dollars because they didn’t know how much they needed to pay to be the most attractive offer.

“Buyers have confidence they are paying true market value as they can see there are other genuine interested parties and their bids, rather than having to guess at what price they should offer to beat other offers that they may not be confident even exist.”

Mr Lane said the new system was already gaining popularity.

“The Open app was launched four months ago and there have been more than $55 million transacted and more than 160 agents now trained in Open Negotiation, and nearly 2000 buyers registered on the platform,” he said.

“The Satterley Property Group will start to use the Open Negotiation process to sell land subdivisions in October and buyer and sellers are starting to demand their agents use the process.”

“It really is a win win for buyers and sellers.”

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