If you’re a consumer who’s dialed into the DMV housing market, there’s a good chance that by now, you’ve probably heard the mounting Buzz around Final Offer, a cutting-edge platform (live in our market today!) that provides a more transparent offer and negotiation experience for buyers and sellers alike. Not sure what we’re referring to? We’ve got you covered — check out our intro post here to get the scoop. Already familiar with the concept but curious to learn more?

Keep reading for a list of myth-busting insights we’ve rounded up in honor of the platform’s official launch in DC — so you can discern fact from fiction and make the right call next time you’re ready to search or sell.

MYTH: Final Offer intends to replace the public listing on BRIGHT MLS, right?
TRUTH: Not quite — the listing that appears on Final Offer will be in addition to the listing on MLS, not in lieu of it. In other words: All listings must be on MLS in order to be placed on Final Offer.

MYTH: The Final Offer platform cuts agents out of the process.
TRUTH: In reality, the Final Offer process requires an agent to list the home on Final Offer, making them indispensable to the process instead of irrelevant. Unrepresented buyers are also placed in direct contact with the listing agent, and every buyer will need to register an offer with their agent on the platform itself. In short, this is a platform made by agents for agents — not to mention the clients they serve.

MYTH: Sellers have to disclose lower offers on their home, making it public that someone submitted a “lowball” offer.
TRUTH: Sellers have the power to decide upfront which offers they want to disclose below list price, if any. All terms can remain private if the seller so chooses; this decision is between the seller and listing agent only.

MYTH: This platform only helps buyers, not sellers, correct?
TRUTH: Since Final Offer enhances transparency and urgency for everyone involved, both buyers and sellers benefit. On the listing side, sellers are more likely to receive multiple offers from Final Offer, triggering a notification that an offer has been received to interested buyers in real time.

MYTH: So — Final Offer is a new brokerage on the scene?
TRUTH: Unlike a brokerage, Final Offer is an offer platform for buyers and sellers.

Ready to find out how Final Offer can make a difference for you? Connect with one of our qualified agents toady!