App to sell houses

Kalamunda Reporter - - Front Page -

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

Forrestfield-based real es­tate agent Aaron Lane from Pro­fes­sional Stir­ling Clark said the app, called Open Ne­go­ti­a­tion, was an open and com­pet­i­tive on­line auc­tion that was prov­ing pop­u­lar with 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,” he said.

“The app al­lows sellers to pre-ap­prove terms and con­di­tions and al­lows the buy­ers to then par­tic­i­pate in 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.”

Mr Lane said the new sys­tem was al­ready gain­ing pop­u­lar­ity.

“The Open app was launched four months ago and there has been more than $55 mil­lion trans­acted.”

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Seller Noel Har­land and agent Aaron Lane .

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