In a landmark deal for Aussie-listed Openn Negotiation (ASX:OPN) the prop-tech firm says it has secured a key partnership agreement with one of the world’s best-known real estate names – Century 21.

Century 21 is one of the largest real estate brands in the world and currently has some 220 independently-owned and operated offices just within Australia and New Zealand alone (Century 21 Network).

In a fairly ringing endorsement of OPN’s home-grown proprietary tech, the partnership combines one of the region’s most established property businesses – complete with global networks and forward-thinking e-sales processes – with OPN’s cutting-edge range of prop-tech solutions.

According to Sean Adomeit, Openn’s CEO of Australia & New Zealand, the deal is designed to place Openn’s products and services into the daily real estate processes of both vendors and sales agents right across the Century 21 Network.

A potential prop-tech reset

Adomeit told Stockhead the partnership will see Openn’s technology integrated into Century 21’s proprietary ‘e-Sales’ CRM software, and has the potential to reset the way technology and real estate interact on a commercial scale.

The tie-in of OPN’s cutting-edge solutions will also include a program that incentivises agents to adopt the Openn Platform throughout the property sales process.

Openn’s proprietary software facilitates greater efficiency and transparency in property transactions for the benefit of buyers, sellers and agents, Adomeit says.

In fact, OPN has already certified circa 5,000 real estate agents and has facilitated more than $5.6 billion in property sales over the last 6 years in the Australian and New Zealand markets.

“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.

Adomeit adds that the OPN team were “thrilled” to partner with Century 21 – widely lauded as “a globally significant” player in the real estate market

“Together with Century 21, we hope to improve transparency and efficiency in property transactions in the Australasian region.”

A new tech century

For now, the term of the agreement is 3 years, with the Initial Period being 12 months from the first day of October and unless cancelled will automatically be extended for a further 24 months.

Century 21 Australia CEO James Bell said real estate agents today are “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. 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,” he added.

OPN has been building out its cloud-based software platform with an eye to making life easier for property agents by bringing the processes online with greater transparency.

The OPN platform facilitates a negotiation process, featuring streamlined digital contracting and automated communication tools, which enhances a property transaction.

The solution provides buyers with real-time feedback through their device on how much competition exists and where their price stands in the negotiation, resulting in “an optimal sales outcome.”

The value of the agreement remains confidential, while OPN says it will keep the market updated on developments.




This article was developed in collaboration with Openn Negotiations, 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.