Founded by a team of real estate and technology leaders, Final Offer’s platform provides a transparent process for buyers while allowing sellers to maximize the value of their home
Final Offer, a new online platform that simplifies the offer and negotiation process for agents, sellers and buyers of residential real estate, has announced the first-ever home sale through the platform.
A four-bedroom, two-and-a-half-bathroom home at 10 Taurasi Road in Hingham, Mass. listed for $1,750,000, sold for $1,793,104.
A prospective buyer submitted the first offer for the home on April 14, activating a predetermined two-day offer window. A total of five offers were submitted, four of which came in the final minutes and extended the clock each time giving the other buyer a chance to make a higher offer.
On Final Offer’s platform, each offer is posted publicly on the site, and factors added by the seller, like waiving the mortgage and inspection contingencies, add set dollar values to an offer. This allows prospective buyers to understand in real time exactly how their offer stacks up against others. The winning offer on 10 Taurasi Road was $1,825,604, which included $32,500 in value for accepted terms.
“The winning buyer had lost out on several homes before this one,” said Tim Quirk, Co-CEO of Final Offer. “By knowing the exact terms that the seller cared most about, the buyer was able to structure an offer they knew would be accepted. Since this was the first property listed on the platform, it was fascinating to see how buyers upped their offers in the final seconds. It was exhilarating watching it unfold in real time.”
Final Offer, launched earlier this spring, was designed to empower agents to provide a more transparent offer and negotiation experience for their clients. The process helps sellers maximize their home sale price while giving buyers a uniquely transparent look at what they need to make a winning offer. Placing an offer takes only a matter of seconds.
“After two years of blind bidding and losing out on nearly 20 properties, it was a relief to encounter transparency within the home buying process,” said Samantha Berdinka, the Compass agent representing the buyer. “The platform was easy to use and sent automatic, real-time notifications of any activity on the property. Knowing the specific terms and price of competing offers allowed us to make an informed decision to make the winning offer. After an exciting back and forth, my clients finally have a place to call home!”
Final Offer has the financial backing of a $3M seed round raised in large part from top real estate agents in Boston, DC and Florida (with a collective total sales volume of $3B+ in 2021), who will be driving adoption with their clients this summer.
Final Offer benefits sellers, buyers and agents alike:
Sellers
- Clearly outline your desired price and terms.
- Maximize your home’s value by setting a Final Offer Price.
- Engage with highly motivated pre-approved buyers.
- Receive real-time updates on new and existing offers.
Buyers
- Make a Winning Offer with certainty.
- Purchase the home immediately.
- Compete fairly, knowing the seller’s desired price and terms.
- Receive real-time updates on new and existing offers.
Agents
- Provide a more transparent offer and negotiation experience.
- Maximize your seller’s home value.
- Provide certainty to your buyers.
- Differentiate yourself to your clients.
About Final Offer:
Final Offer is a new platform that empowers top real estate agents to provide a more transparent offer and negotiation experience to their clients. Now sellers can clearly outline their desired price and terms, giving buyers the certainty they need to always make a winning offer. By setting a Final Offer Price, sellers are able to maximize the value of their home, giving buyers the ability to purchase the home immediately. Built by real estate and technology leaders, Final Offer allows the best agents to differentiate themselves and provide their clients with an elevated buying and selling experience.
Media Contact:
Rebecca Simmons
Hollywood Agency
rebecca@hollywoodagency.com
781-413-1671
SOURCE Final Offer