A mobile, transparency-in-transaction software company, Openn, has started a pilot program to test its platform with agents in the Golden State.
To roll out the program, Openn announced an agreement with BridgeMLS, a Bay Area-based organization that supplies data and listing marketing services for more than 80 percent of California’s real estate.
DaVina Lara, CEO of BridgeMLS, said the two entities will work together to improve buyer equality and deal transparency.
“Our team is always seeking opportunities to develop a strong relationship between agents and consumers,” Lara said. “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 is the fifth such agreement for Openn, according to the announcement. It’s running similar programs in parts of Canada, Connecticut, North Carolina and Massachusetts.
The app uses a sales tactic that allows for everyone to see the status of the listing agent’s web experience, submit offers, and negotiate. All details of the listing, critical documents and images are presented alongside the agent’s name and contact information.
The app engages buyers, sellers and agents using chat tools, notification systems and a fully mobile digital contract signing interface.
Members of the pilot program will be able to allow buyers to submit an offer, terms and personal details for review by the seller and their agent, the release stated. The app then openly shares how many offers have been made and the total number of buyers interacting with the listing.
“BridgeMLS is a partner that brings great value to the table in our pilot phase because of their cutting-edge attitude towards the advancement of new technologies in their marketplaces,” said Eric Bryant, Openn North America director of operations. “These types of partners are valued in the North American expansion.”
Openn is based in Perth, Australia, and has offices in the United States, operating under Openn North America.
Doorsey and MarketBuy, also based in Australia, offer a related solution to Openn, but carry the idea further by displaying actual offer amounts in an ongoing, back-and-forth bidding format. Buyers can monitor the sale, one-up one another, and those monitoring the sale are free to comment and ask about the listing.
Alternative sales tactics, such as auction formats and increased openness about the number of buyers and offer amounts, are becoming more common as old traditions of home sales break down under the pressure of doing business with modern consumers and increasingly sophisticated technology.
BridgeMLS’ agreement to work with Openn is yet another example of how important it is for agents to meet consumer expectations for efficiency and rapid communication.
Neither company disclosed for how long the pilot program would run.