The property technology firm has struck two new North American agreements instantly extending its reach across more than 160,000 agents.

Openn Negotiation is one step closer to launching its property technology in Canada after entering into a pilot agreement with The Canadian Real Estate Association (CREA) – a body that provides access to 150,000 real estate agents and could lead to a commercial rollout within months.

Under the deal, the pilot program will operate for an initial six month period, during which Openn Negotiation (ASX:OPN) North America and CREA will test and evaluate the potential market fit and demand for the platform with CREA members.

The pilot seeks to integrate the Openn Offers module and its wider platform with CREA’s property listing platform, REALTOR.ca – Canada’s most prominent online property listings space which has seen more than 1.9bn property page views.

Openn and CREA will collaborate in raising awareness of the Openn platform and its attributes, including testing and obtaining feedback on the platform from Canadian real estate professionals.

The parties will explore a longer-term arrangement for ongoing collaboration with a view to expanding the rollout of Openn Offers in Canada.

Real-estate professionals and consumers benefit

OPN chief technology officer and president of North American operations, Duncan Anderson, says the company is thrilled to partner with CREA and to introduce Openn Offers to the Canadian marketplace.

OPN agreement with leading US Multiple Listing Service

In parallel, OPN has signed a subscription agreement with Triangle MLS – a leading Multiple Listing Service (MLS) in North Carolina with access to 16,000 agents.

Under this deal, Triangle has agreed to subscribe for 1 million unquoted Openn options for an aggregate exercise price of between AU$350,000 and AU$650,000, depending upon the time of exercise.

In the US, MLS organisations store and publish property listing data for realtor members.

Triangle is the largest MLS in the North Carolina property market, representing some 16,000 registered real estate professional subscribers, with sold property volume of 47,000 in 2021.

Openn is working with Triangle with a view to reaching agreement on a pilot program for Triangle and its subscribers to test and evaluate the Openn platform in the North Carolina real estate sales market.

 

 

 

This article was developed in collaboration with Openn Negotiation 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.

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