Openn Negotiation’s pilot program with bridgeMLS in the Bay Area market of California expands its pilot footprints on both sides of the US coasts. 

Property-tech company Openn Negotiation (ASX:OPN) is launching a pilot program with US real estate data provider bridgeMLS, as it prepares for a potential stateside commercial rollout of the Openn platform.

Under the pilot agreement, Openn and bridgeMLS will test and evaluate the potential market fit and demand for the Openn platform with bridgeMLS members over the course of six months.

In particular, the program will be aimed at raising awareness of the Openn platform and its attributes, through testing and obtaining feedback from real estate professionals in the Bay Area region of northern California.

The program will also explore opportunities for a longer-term collaboration with bridgeMLS, and the possibility of integrating Openn’s offering into bridgeMLS’s system platforms of ConnectMLS and Paragon.

Go west, young man!

bridgeMLS serves more than 3500 real estate professionals, and provides them with access to data for over 80% of the California marketplace through their data share agreements.

The company is an active participant in the NORCAL Alliance group, which advocates the advancement of innovation and collaboration throughout the State of California.

In all, Openn is now running five concurrent pilots across Canada and the US, providing the company exposure to diverse markets that span from the Pacific to the Atlantic.

“The North American market is delivering a clear and consistent message – that the real estate industry is ready for transparency,” says Duncan Anderson, Openn’s CTO, and North America president.

“This is our first pilot on the USA west coast, in one of its largest property markets. We’re thrilled by the opportunity to partner with bridgeMLS to introduce Openn Offers to the northern California and Bay Area marketplace,” he added.

Tech to solve a gap in the market

Openn says it has developed a technology to resolve traditional real estate sales methods, which have often resulted in disappointing outcomes for stakeholders in a sale transaction.

The platform allows buyers, agents, and sellers to participate from anywhere in the world, and notifies them of new offers, in real-time, to give something that buyers have been screaming for, for years – more transparency in the sale process and greater peace of mind when making what is a very important life decision.

Openn has moved quickly out of the gate to bring Openn Offers to market not long after its launch. Openn Offers is a private treaty solution that allows sellers to see – and accept – any offers at any time, while allowing agents to control price transparency in the buying process.

“As a partner, bridgeMLS brings great value to the table in our pilot phase, because of their cutting-edge attitude towards advancement of new technologies in their marketplaces,” says Eric Bryant, Openn’s North America Director of Operations.

For bridgeMLS, the partnership with Openn will provide an opportunity to develop a strong relationship between agents and consumers.

CEO of bridgeMLS, DaVina Lara agrees, and notes that it’s the transparency this partnership provides that underpins the value of working together.

“Openn provides a new opportunity to tighten that relationship through improved equality and transparency during the offer and acceptance process,” Lara says.

“Transparency is the backbone to trust, and bridgeMLS looks forward to bringing the most transparent tool to our marketplace for both our agents and their clients.”

 

 

 

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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