Openn expands onthehouse.com.au partnership with CoreLogic
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Property technology player Openn Negotiation has expanded its commercial agreement with CoreLogic Asia Pacific to integrate the company’s software into the onthehouse.com.au website.
A successful pilot integration launched last year streamlined and enhanced connectivity between agents, buyers, and sellers by leveraging the company’s suite of transaction management tools.
The website provides information about homes for sale, apartments for rent, market insights and trends to help consumers with decisions about where and when to buy, sell or rent – and gives Openn Negotiation (ASX:OPN) access to around 4 million visitors per month.
The expanded deal will allow several of the company’s products to be offered to CoreLogic’s subscriber base of over 9,000 real estate agencies, with further integration planned along with advertising support from CoreLogic of Openn’s products to its users.
The collaboration also has the potential to present further opportunities to monetise data captured within the Openn ecosystem, since CoreLogic provides analytics to a wide range of professional groups with unparalleled access to the property insurance, banking and mortgage broking industries.
“Since listing on the ASX in July 2021, we have articulated a pathway to achieve 5% market share in the total addressable housing market in Australia and New Zealand,” MD Peter Gibbons said.
“This collaboration will help to deliver on this goal which will in turn, open up significant opportunities with regard to use of the unique, real-time data that Openn’s technology enables.
“The development of the commercial relationship between CoreLogic and Openn is clear evidence that the ‘behind- the scenes’ work being done by our technical team on several pilots announced domestically and in North America in the last 12-18 months will result in meaningful financial outcomes for Openn.”
The consideration payable is in the form of a revenue share arrangement, under which Openn will provide to CoreLogic 20% of the gross revenue from the upload fees generated from their advertising support.
This article was developed in collaboration with Openn Negotiation Limited (ASX:OPN), a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.