Openn Negotiation Ltd (ASX:OPN) will promote its property technology software to more than 220 vendors and sales agents in Australia and New Zealand, under a partnership agreement with Century 21 Australia Pty Ltd, one of the largest real estate brands in the world.
The partnership will see Openn’s property technology integrated into Century 21’s proprietary e-sales CRM software and will include a program to incentivise agents under their network to adopt the Openn Platform to sell properties.
Validation of technology
Openn chief executive officer for Au/NZ Sean Adomeit said: “We’re thrilled to partner with Century 21 - a globally significant player in the real estate market. This partnership is further validation of the effectiveness of our technology, which is helping thousands of real estate agents achieve optimal sales outcomes for their clients.
“Openn will do everything we can to assist Century 21’s large network to understand the power of the Openn platform and anticipate building an enduring and mutually beneficial partnership with this market-leading group. Together with Century 21, we hope to improve transparency and efficiency in property transactions in the Australasian region.”
Transparency and efficiency
Openn’s software offers efficiency and transparency in property transactions for the benefit of buyers, sellers and agents.
Over the last six years, it has certified some 5,000 real estate agents and facilitated more than $5.6 billion in property sales in Australia and New Zealand.
“As agents, we’re acutely aware of the need to provide transparency to participants in real estate transactions. For some years, we’ve observed Openn’s growing role in addressing this need for transparency in the Australian and New Zealand markets,” Century 21 Australia CEO James Bell said:
“We’re delighted to offer this cutting-edge solution to our expanding network of property sales professionals and look forward to helping Openn to onboard their technology to our sales teams. The roll-out of Openn’s technology to the Century 21 agent community represents our commitment to provide a unique value proposition to our staff and clients.”
Three-year deal
The agreement is for three years, with the initial period being 12 months from October 1, 2022, which will be automatically extended for a further 24 months unless terminated by both parties before the end of the first year.
The partners are unable to provide a revenue estimate nor put a value to the partnership at this stage due to unknown factors including, and not limited to the future property market and property listings growth.