Final Offer – the only consumer-facing offer management and negotiation platform driven by real estate agents – recently announced it has marked a significant milestone with the successful closure of its Series A funding round by raising $5 million. This funding round will accelerate Final Offer’s mission to bring transparency, fairness, and efficiency to the residential real estate market.
The company’s journey started with four visionary individuals: Judd Hoffman, Danko Fatovic, Tim Quirk, three entrepreneurs with multiple past successful technology exits, and Kevin Caufield, a top Realtor in the Boston Market. And Caufield’s extensive experience allowed him to shed light on the industry’s long-standing challenges, from clients missing out on homes to territorial and commission disputes among agents. These issues highlighted the need for transparency and fairness in real estate transactions.
With a total of $8 million in funding raised between its Seed and Series A rounds, including contributions from 70 real estate agent investors, Final Offer is poised for rapid growth. And the platform’s momentum is driven by its ability to deliver enhanced transparency and efficiency to the residential real estate market.
Innovative brokerages have adopted Final Offer’s Enterprise offering, propelling the platform from managing hundreds of listings to thousands over the coming months. This growth is a testament to its impressive 29-person team and the platform’s value in addressing the industry’s core issues.
Final Offer is not only transforming the industry, but it is also perpetuating the century-old code of ethics of the National Association of Realtors (NAR). The platform ensures that agents honor their fiduciary duty to their clients, cooperate with other agents, and do not discriminate. This commitment to ethical standards is at the core of Final Offer’s mission.
Agents utilizing Final Offer are not only upholding ethical standards but also picking up market share in the industry. And the platform serves as an instant trust builder for consumers. In a 90-second video on the company’s website, consumers can grasp the concept and power of transparency. And it is becoming evident that transparency is not just the right thing to do. But it has also been proven to help sellers maximize their outcome (price and terms) for their homes while buyers have the information to make an offer they know will be accepted.
To make Final Offer easily accessible to all agents, Final Offer now offers free integration with all Multiple Listing Services (MLS). And this integration ensures that agents can subscribe and use Final Offer seamlessly, further expanding the reach of transparency and fairness to buyers, sellers and their agents throughout real estate transactions.
Final Offer also plays a significant role in disclosing commission information. And the platform will provide precise exposure of all buyer agent commissions and any variable rate commissions on property listings, empowering consumers to make informed decisions about their real estate transactions.
KEY QUOTES:
“Final Offer’s strategy is directly inline with secular trends that are just now gaining momentum in residential real estate and will only compound for decades to come: consumers demanding transparency and a faster and more efficient home buying and selling experience. As the leader of a new product category in proptech, we see enormous opportunity for growth as real estate professionals and brokerages partner with us to grow their businesses while meeting the needs of consumers. We are grateful to our investors for believing in our mission as much as we do – to become the de facto choice for how agents negotiate real estate transactions, transparently, globally.”
— Judd Hoffman, Co-Founder and Chief Investment Officer
