The patent addresses the types of genuine estate sales procedures enabled by the Openn system, exactly where agents aid the sale approach between seller and consumer.

Openn Negotiation Ltd (ASX:OPN)’s patent for its on line true estate product sales technique has been issued by the United States Patent and Trademark Business (USPTO).

Confirmation of patent selection US 11,250,498 B2 from USPTO was gained on March 30, 2022, with the date of the patent staying February 15, 2022.

The patent for Patent Software No. 16/311989 was built by its wholly-owned subsidiary, Openn Tech Pty Ltd.

The priority day for the accepted patent was set up by the initial Australian application filed on June 23, 2016.

Patent specifics

The patent was recognized by USPTO on December 9, 2021.

Basically, the patent covers the varieties of serious estate product sales processes enabled by the Openn system, in which brokers aid the sale procedure amongst seller and purchaser.

The US is regarded as the biggest genuine estate current market in the world, valued at US$2.5 trillion for every calendar year.

Property technologies organization

Openn Negotiation is an Australian assets engineering organization.

It is establishing a proprietary, cloud-dependent software system that supports authentic estate brokers while advertising home on the web with greater transparency.

The Openn system facilitates a negotiation method, featuring streamlined electronic contracting and automated conversation tools, which improves a home transaction.

In convert, the solution delivers prospective buyers with real-time suggestions as a result of their product on how a great deal competitiveness exists and where their selling price stands in the negotiation in a bid to far better the final result of the sale.