Openn

What is Openn Negotiation?




This online guide has been developed to provide you with helpful tools to run a successful Openn Negotiation. Use the tabs on the left to work through the Openn Negotiation process – each section ends with a list of related resources you can view or print. Otherwise, you can skip down to ALL RESOURCES for a complete set all in one place.


How Openn Works




Links

Getting started + Contracts




Here are a few things we suggest you do right after training;

  1. Complete User Guide

  2. Search and join the Certified Openn Negotiation private Facebook Group – a great place to find tips, advice, ask questions and see updates on new resources.

  3. Save this Webbook to your smartphone desktop or favourites! This online manual works in conjunction with the Complete User Guide, guiding you through the process. It’s where you can find all the resources and videos you’ll need.

  4. Download the Openn app or go to www.openn.com.au and log in as an agent with your license number. Link up to an existing agency or add your agency.

  5. Get in touch with your assigned agent coach by calling our support line at 1800 667 366. They'll be able to answer any questions you have about the training and will help ensure your first listing is a success.

 

Contracts

Western Australia

!! GUIDE TO USING CONTRACT AUTOMATION (Western Australia)

1. Exclusive Authority to Sell by Openn Negotiation Agreement (WA)

2. Bidding rules and Offer Terms of Use

3. Authority to act as an Auctioneer in an Openn Negotiation

4. Contract Preparation Instructions

5. Joint Form of General Conditions For The Sale of Land

6. Guide to completing the Exclusive Authority to Sell By Openn Negotiation (VIDEO)

7. Guide to completing Bidding Rules and Offer Terms of Use (VIDEO)


Queensland

1. Listing Pack - REIQ (EXAMPLE)

2. Annexure A - Seller's Authority to use Openn Negotiation (QLD)

3. Bidders Registration, Authority to Bid and Terms of Use (QLD)

4. Contract Preparation Instructions (QLD)

5. Comfort Letter - Mills Oakley (QLD)

 


New South Wales

1. Listing Documents - REI (EXAMPLE)

2. Annexure A - Sellers Authority to Conduct Sale by Openn Negotiation

3. Openn Negotiation App Terms and Conditions

4. Buyers Authority to Bid and Terms of Use

5. Contract Preparation Instructions

6Comfort Letter - Jemmeson & Fisher

Victoria

1. Listing Documents (EXAMPLE)

2. Annexure A - Seller's Authority to use Openn Negotiation (Victoria)

3. Buyer Authority to Bid and Terms of Use (Victoria)

4.  Openn Negotiation - Contract Preparation Instructions 

5. Comfort Letter - Mills Oakley

6. Guide to completing Victoria Listing Forms (VIDEO)

7. Guide to completing Victoria Buyer Authority to Bid and Terms of Use (VIDEO)

  

South Australia

1. Listing Document- REISA (EXAMPLE)

2. South Australia - Annexure A Agreement to use Openn Negotiation

3. South Australia - Buyer Authority to Bid and Terms of Use

4. South Australia Contract Preparation Instructions 

5. South Australia Letter of Comfort


Links

Benefits for Agents




Benefits for Sellers




Links

Benefits for Buyers




Links

Winning a listing




The video above shows you how to use the Selling Plan below. Here are some examples of collateral available to help you win your first listing. You can download the printable artwork using the links at the end of this section.

 

 

 

PRE-APPRAISAL PREPARATION

  1. Prepare all of the listing tools & collateral you normally would.
  2. Prepare these Openn Negotiation documents found in the links below;
    - A prefilled Listing Authority or Agency Agreement
    - The ‘How Openn works for buyers’ explainer brochure
    - The Openn Negotiation Selling & Consultancy Plan.
  3. Review the Complete User Guide and prepare yourself to present all of the above.

 

APPRAISAL & LISTING APPOINTMENT

  1. Work through the Openn Negotiation Selling & Consultancy Plan’. (Watch the video above).
  2. Ensure you offer all sales methods and talk through the features and benefits of each.
  3. Work through the benefits of Openn Negotiation. If required, you can show the vendors explainer videos and supporting materials.
  4. Agree on the marketing budget in relation to vendor paid advertising – notifying them of the cost to utilise the Openn Negotiation platform ($440 incl GST), as well as standard Auctioneer fees.
  5. Fulfil your state’s legal requirements on supplying relevant sales evidence to support the setting of price expectations.
  6. Discuss the benefits of a vendor paid building and pest report.
  7. Discuss how the reserve price works. This can be adjusted throughout the campaign. Either way it must be set before the final bidding stage.
  8. Agree on a time for the final bidding stage, our recommendation is to choose a time between 6.00 - 9,00pm. If unsure, put TBA on the documentation.
  9. Liaise with solicitors or settlement agent and provide them with Schedule 1. Relevant parties complete the Listing Authority or Agency Agreement, including Annexure A.

Links

Explanation for Sellers




Uploading a property




To get this part of the process happening, we suggest you;

  1. Watch the ‘How to upload a property’ video above.
  2. Go to www.openn.com.au and log in as the agent whose listing it is.
  3. Click on the (+) button to create a property
  4. Complete all of the property features. Upload a few of the best images, using the best image as the cover photo. Once complete click "Create Openn Negotiation".
  5. Enter in the final bidding stage date and time into “Openn Negotiation day & time” field.
  6. Enter a reserve price as per authorised by the vendor. If unknown, leave this field blank. Either way it must be set before the final bidding stage.
  7. Enter in the minimum bid increment. The minimum bid increment can be changed at any time throughout the negotiation. This is activated after the first bid is placed on the property. for strategic advice on adjusting the minmum bid increment, contact your agent coach.
  8. Launch the property to and ensure to use the correct terminology for the description and price field outlined in the section Correct Copy For Web Portals.
  9. To ensure the maximum number of web viewings from from potential buyers, the background price should be as broad as possible within your state's statutory requirements.

 


Links

Correct copy for Web Portals


Download Instructional PDF "Launching & Updating Properties - for Admin & Support Staff"

Throughout an Openn Negotiation campaign the agent will need to update the background price and wording on sales platforms. This is absolutely essential to attracting buyers and securing bids throughout the campaign.

There are three stages where you'll need to adjust the wording on the web portals:

- Before you have a bid

- After you have a bid and before you are within 10% of the background price

- After you have a bid and are within 10% of the background price

BEFORE YOU HAVE A BID

In the price area you can choose any of the following approaches:

In a tough market:

- VENDOR WANTS IT GONE QUICK
- DON'T MISS OUT FAST SALE - BE QUICK
- Owner says 'sell'
- Calling all savvy investors
- Owner will meet the market
- Owners demand a fast sale
- Sleek abode - motivated seller
- Get in fast
- Do not wait for this chic beauty
- GET IT SOLD - I'm told!
- Chic dream - stop scrolling - fast sale!
- Don't miss this - name your price

 

In a hot/medium market:

- Coming soon - contact agent
- VIP Inspections
- Call for details
- Private inspections - contact agent
 

In the description area 

The Openn Negotiation has started (auction held online with flexible terms for qualified buyers). The property can sell at any time, contact [AGENT NAME] immediately to become qualified and avoid missing out.

EXAMPLE:
 

 

ONCE YOU HAVE A BID - BEFORE YOU'RE WITHIN 10% OF BACKGROUND PRICE 

In the price area:

- See current bid below
- Property has a bid - see below

In the description area:

CURRENT BID $XXX,XXX - X Qualified Bidders


The property has not met reserve. Openn Negotiation is an auction conducted online that allows flexible terms for qualified buyers and the property can sell as early as tomorrow. Contact [AGENT NAME] immediately to become qualified and avoid disappointment.

 

EXAMPLE:

ONCE YOU HAVE A BID - AFTER YOU'RE WITHIN 10% OF BACKGROUND PRICE 

In the price area:

- CURRENT BID $XXX,XXX

In the description area (before it has met reserve):

CURRENT BID $XXX,XXX - X Qualified Buyers
The property has not met reserve. The Openn Negotiation (flexible conditions online auction) is underway and the property can sell as early as tomorrow. Contact [AGENT NAME] immediately to become qualified and avoid disappointment.

In the description area (once reserve is met):

CURRENT BID $XXX,XXX - X Qualified Buyers
The property has met reserve. The Openn Negotiation (flexible conditions online auction) is underway and the property can sell as early as tomorrow or by DAY/MONTH. Contact [AGENT NAME] immediately to become qualified and avoid disappointment.
 

EXAMPLE:

 

 


Links

The campaign & getting buyers qualified




BEFORE SHOWING THE HOME TO BUYERS

Here are five things you should do: 

  1. Make sure you download the Openn App to your mobile via the Apple app store or Google Play or you can sign up at www.openn.com.au
  2. Check the property has been uploaded to openn.com.au
  3. Have prepared contracts with you.
  4. Prepare yourself for queries on price ensuring you don’t protect the price. You want to welcome the first price to help get the competition started. Refer to the Complete User Guide for help with this.
  5. Prepare marketing materials for interested buyers and have them readily available for all communications. You will find in-house printer friendly explainer brochures in the WINNING A LISTING section.

 

SHOWING THE HOME 

Work hard to secure qualified buyers. Once they have agreed to enter a starting price, there are seven steps to follow:

  1. Ask them to download the free Openn App to their mobile - They can do this via the Apple app store or Google Play or they can sign up at www.openn.com.au
  2. Next, they need to input a pending price - It doesn’t need to be their best price. Once the price has been entered, the agent will be notified via the app and by email.
  3. Paperwork time - You can now complete the Openn Negotiation Contract of Sale relevant to your state and have the buyer enter their terms and sign it.
  4. Get seller approval - Once the buyer has signed the paperwork, the seller needs to approve their terms and also sign**. If the seller doesn’t accept them for any reason, the buyer should be given the chance to re-submit.
  5. The buyer is now qualified - Once accepted by the seller, you can accept the buyer on the app which makes them now qualified. The buyer will be emailed a notification that they have been accepted and we recommend you call to advise them too. See the Complete User Guide for text and email templates you can send to buyers that are now qualified.
  6. Update the price on all sales platforms - Once you have your first registered buyer set their opening price, you’ll need to manually update each of the other marketing platforms. 
  7. Follow up all other interested buyers - Update any other buyers on the new price to negotiate above, reminding them they need to become qualified as soon as possible if they want to ensure they don’t miss out on a chance to purchase the property. Remember: The property can sell at any time so it is not advisable for buyers to wait.
    There are some great tips on dialogue to use in the Complete User Guide on how to compel buyers to get qualified ASAP.

 

SUBSEQUENT HOME OPENS

  1. Follow the steps above to get more buyers qualified, notifying them of the price they need to enter above the current price.
  2. When additional buyers become qualified, the new buyer ID number and price will be instantly displayed on the app and at www.openn.com.au. We recommend you phone or email all other qualified buyers to advise them of the new highest bid and ask if they are still interested at this new price level. A “new bid received” email template is available in the Complete User Guide. Buyers who are no longer interested can withdraw at any time.
  3. If a bidder drops out, inform the seller. This will help them towards understanding the value the market sees in their property.
  4. If the bid is significantly lower than reserve and enquiry or home opens aren’t busy, it may be time to talk to your seller about correcting the reserve price.
  5. Update the portals as you have done previously.

 

OTHER TIPS LEADING UP TO THE FINAL BIDDING STAGE

  1. Keep up regular communication with the buyers and sellers. Inform them of changes to prices or when there are new buyers qualified to bid on the property.
  2. Chase down home open attendees, working to get as many qualified as possible. Use the ‘Any last registrations’ template from the Complete User Guide.
  3. Encourage qualified buyers to improve their bids in the lead up to the final bidding stage.
  4. If you’re getting close to reserve and buyer interest is dropping off, it’s time to consider moving the final bidding stage forward and get the competition started*. Once all buyers have accepted, change the date & time of the final bidding stage on the app. This will send an automated email to all buyers, sellers and observers. Make sure you update the new time on all of your portals & don’t forget to confirm your auctioneer if required.

 

** ! Due Diligence! Selling the property by Openn Negotiation still requires the professional real estate agent to take normal precautionary steps to ensure buyers subject to conditions have suitable pre-approval.


*Remember, where changes to the final bidding stage are made, buyers must be provided with a minimum of 12 hours’ notice and the newly proposed time to be between 0800 and 2100 hours local time, refer Schedule 1.

 

 


Links

Explanation for Buyers




The final bidding stage




ON THE DAY

  1. Call and email all qualified buyers, sellers and your auctioneer. Refer to the Complete User Guide. Confirm they are ready, wish them all the best, confirm and settle on the location you will run the negotiation with the sellers and auctioneer.
  2. Ensure the appropriate bid increment is pre-set on the app.
  3. Charge all of your devices.

 

AN HOUR BEFORE

  1. Double check all devices and ensure you’ve got a solid internet connection at the location of the final bidding stage. It’s nice to connect up to a large screen if you have the ability.
  2. Make sure you have all the buyer’s numbers ready on speed dial.

 

THE MAIN EVENT

  1. Once the countdown timer to the final bidding stage ticks over, qualified buyers will have an initial 5-minute increment to make the 1st bid.
  2. All subsequent bids will reset the clock to a 2-minute countdown timer.
  3. The pause button can be used by the agent for communicating with the sellers and qualified buyers.
  4. It is recommended that buyers should not wait much longer than 20 seconds in remaining time to place a bid, as it is a ‘two click’ verification process where you will have to Set Amount and Confirm Bid.
  5. Changes in minimum bid increments will reset the 2-minute countdown timer.
  6. Be sure to review the Complete User Guide which will give you handy tips and tricks on how to engage with your buyers and sellers during this stage. 

Links

Post bidding stage


WHEN THE PROPERTY SELLS

  1. At the fall of the hammer, the auctioneer enters the price into the purchase price confirmation on the contract of sale and signs off on the buyer’s behalf. If the seller is present, they also sign off. If the seller is not present, the agent / auctioneer can sign off on their behalf.
  2. Get in touch with the successful buyer/s and congratulate them.
  3. Contact unsuccessful buyers and thank them for their participation. As Openn Negotiation is a fair and transparent way to sell a home, unsuccessful buyers are new potential leads.

 

IF THE PROPERTY DOESN’T REACH RESERVE / PASSES IN

  1. Call all buyers – work to negotiate a suitable price for the seller. You can use the purchase price negotiation form until the following times relevant to your state

    - Western Australia: Until 12pm the following day
    - New South Wales: Before Midnight on the same day
    - Queensland: Until 12pm the following day
    - Victoria: Until 12pm the following day
    - South Australia - Before Midnight on the same day

    Thereafter, it will become a private treaty negotiation by striking through wording which refers to Schedule 1.
     
  2. Ensure you update all of your marketing and web portals.
     
  3. Update your ‘closed negotiations’ to ‘sold’ where you are able to sell the property post the final bidding stage, as follows;
    - Open the negotiation to view the bidding timeline. Identify the paddle number of the winning buyer.
    - Go to ‘My Negotiations’ and click EDIT on the property you would like to update from CLOSED to SOLD
    - Click ‘Post Closed Bid’
    - Enter WINNING BIDDER PADDLE NUMBER
    - Enter SOLD price
    - Enter SOLD date
    - Click on ‘POST SALE’ 

Purchase promotional material


 

 


Links

Certified Openn Auctioneer Directory


 


ALL RESOURCES


ALL RESOURCES

The complete set of available resources for training and marketing purposes can be found in the links below. If there's a more print specific version you're unable to download here, please contact us and we can send through relevant artwork.


Links

Certified Openn Negotiation Agent Kit


 

Openn Negotiation Agent Hero Kit

1. Overview Document

Social Media Images

1. Image 1

2. Image 2

3. Image 3

4. Image 4

5. Image 5

6. Image 6

Printouts / Leave behinds

1. Certified agent is now selling in your area - Printout

2. Certified agent is now selling in your area - Letter

Certified Agent Logos

1. Logo Dark Round

2. Logo Dark Square

3. Logo Light Round

4. Logo Light Square

 

For Sale by Openn Negotiation icon

1. Image 1

Sold by Openn Negotiation icon

1. Image 1

Openn Negotiation Logos - for digital use

1. Zip File

Openn Negotiation Logos - for printing (signage or brochures/flyers)

1. Zip File


Web Books - Developed by Real Estate Academy Ph: 1300 367 412