Headlines are on fire with predictions of commissions being slashed and alluding to “a mass exodus of brokers from the industry”. Final Offer keeps the best agents center stage and relevant. A good agent is worth more than the commission to their client, and the crux of the issue isn't about the commissions, but rather lack of transparency.
"There is a lot of fear and confusion about the settlement and all the changes. Let me make this simple: communicating and providing value has always been important, and after this, it has become paramount”, said Keith Robinson, Chief Strategic Officer, NextHome, Inc. “Having a mindset and tools for providing value will be critical. It's not just utilizing transparent negotiation technology like Final Offer, which is a great start. Still, it is also about communicating the value of these things to the humans who are buying and selling houses.”
In this evolving landscape, Final Offer has already been making strides by offering an innovative platform that tackles the transparency and trust challenges faced by buyers, sellers, and agents. Final Offer is not just a response to the industry's call for greater transparency; it is a proactive tool that ensures fairness and clarity are no longer ideals but realities in real estate transactions. It allows listing agents to collaborate with their sellers to achieve the best outcomes, while giving buyers more information and a fair shot.
“Consumers deserve a trusted advisor which is gained with transparency,” said Rich Robbins, CEO, Rich Robbins International. “Final Offer sets proper expectations for everyone involved in the transaction and allows buyers, sellers, and agents to compete for the desired outcome.”
Final Offer's innovative approach extends to how sellers and their agents can present the home. They can list at various price points; in addition to the MLS list price, they can add a seller-committed price and terms, and a "buy it now" option. Potential buyers and their agents receive real-time alerts whenever a term has changed or an offer has been made on a property they are following, allowing them to participate in the process at the right time with all the information they need to make a winning offer.
The platform also addresses the critical issue of buyer agent commission. Seller compensation can not only be displayed as part of the listing, it can also be negotiated as part of the deal like any other term, thereby maintaining the traditional outcome of rolling it into the final settlement. This approach complies with the new NAR rules, making the buyer agent commission part of the offer that correspondingly changes the net amount dollar-for-dollar, allowing an apples-to-apples comparison for the seller. This solution ensures that buyers can still afford proper representation. In further compliance with the new NAR rules, Final Offer requires buyers and their agents to sign an agreement electronically before making offers.
"Leveraging transparency in negotiating commissions with both buyer and seller clients, as well as fellow agents, is paramount in real estate transactions. It's not merely about trust and credibility; it's about cultivating enduring relationships, ensuring fairness, and upholding the pinnacle of professionalism,” said Lori Muller, President of the US Organization for EXIT Realty Corp International. “Transparency isn't just a policy; it's the bedrock of ethical conduct that nurtures success for everyone involved. With NAR's recently proposed settlement, the utilization of the Final Offer platform in real estate transactions provides Realtors® with an avenue to enhance the negotiation processes, placing transparency at the forefront of every transaction."
Jason Sherman, CEO of RLAH, commented “Sunlight has always been the best disinfectant. Whatever changes are set upon our industry, any tools that help the consumer increase awareness are welcomed and encouraged. Products like Final Offer that use transparency as their north star are set up to succeed.”
Agents that are adopting Final Offer are having success growing market share and achieving better outcomes for their clients.
Nathan Dart of Dart Homes says, “Final Offer is a tool that I use to attract more business with trust and transparency. All agents are not the same and with Final Offer, I'm able to differentiate myself from the other agents in the marketplace by demanding the very best results for my clients while giving everyone involved a fair chance to compete for the home that they desire. My Sellers are selling their homes for 15% more than the average seller in the area and buyers never feel as if they overpaid because they knew what they had to do to compete.”
As we navigate this new era in real estate, it's essential to recognize the pivotal role of innovation and leadership. Final Offer has gained enormous momentum over the past year by partnering with brokerages and teams throughout the U.S. and Canada and is proud to support agents and their clients by providing the technology to support the industry throughout this exciting journey.
For any agents that are interested in learning more about the platform: JOIN US FOR A DEMO.