Should You Consider Using Open Negotiation to Sell Your Perth Property?

What is Open Negotiation?

It’s a relatively new way to sell your property where buyers inspect it as normal and then if interested they register online, where they can place transparent bids that can be seen by any other buyers who are registered.

Its very much like an auction that is carried out over the internet, with a longer set period of time, usually with the same conditions that would be part of a private treaty sale- like being subject to finance and inspections with a nominal deposit being required.

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Is It Worth Using to Sell Your Property?

I have already had a number of clients ask me this question…

I’m very progressive and love technology but only if it can improve the outcome for my client and be more efficient.

At this stage, it’s really more of a gimmick that turns more buyers off than it does attract.

Ultimately it seems more beneficial as a unique selling proposition for an agent to differentiate their services from others to win more business.

Follow the Market

Until such time that the public prefers it and I can be sure it’s going to capture the whole market out there and get a better result for my sellers, then I would suggest clients continue to use private treaty.

It’s similar with the use of Auctions here in WA, despite there being many great benefits to selling that way. Unlike over East, Perth Buyers are not used to them as the primary method of sale, so most are uncomfortable and shy away from properties being sold by auction.

2 thoughts on “Should You Consider Using Open Negotiation to Sell Your Perth Property?

  1. Hello Jarrad,
    Pete Gibbons here, MD of Openn Negotiation. I am pleased to say we have sold over $150m in properties and received over $2.5 billion in bids in our first 12 months. There are about 4,000 registered users now and we have just sold our first properties in the East. I hope this shows we are more than a gimmick, the feedback from sellers, buyers and agents is overwhelmingly positive. We would be delighted to provide more information and have your agents trained up in Openn, just let me know!
    Many Thanks
    Pete

  2. Hi Pete, It is great to hear that the sale method is gaining traction. We are usually pretty slow to adopt most things in Australia and even slower in Perth… We are typically very progressive but when it comes to sale method I think we still need to go with what the majority of buyers are using and are comfortable with, letting other agents be early adopters in this area. Keep up the great work!

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