With a launch that has been highly anticipated by many in the real estate industry, MLS Offers (www.mlsoffers.com) has opened its doors as a free service for all real estate professionals in the United States and Canada. MLS Offers has taken aim at easing a pain point felt by many agents, the fragmented and often frustrating process of negotiating offers.
List agents often find themselves managing multiple offers across multiple listings and often times via multiple
technologies chosen by different buyers’ agents. MLS Offers is a web-based platform that simplifies the offer negotiation process between agents.
PropTech industry veteran and MLS Offers CEO Alan Fenn says, “The process is simplified by providing a standardized offer submission and negotiation process that is currently lacking in the real estate industry. This means allowing the listing agent to require that all offers on their listings be submitted through the MLS Offers platform. This ensures that all offer terms, docs and negotiation correspondence are easily managed by both parties, through a simple uniform interface”.
So how does it work? List agents paste a unique offer link in their MLS offer instructions and buyer's agents can click that link right in the MLS to submit an offer. List agents may include offer instructions and even documents for the buyer's agent to download, if applicable, to ensure complete offers on initial submission. As negotiations go back and forth, the offer status will automatically update so the agents will always know the status of the offer. Once an offer is accepted, important closing information can be added and seen by both agents along with contact info for any other parties involved such as a loan officer, title rep, home inspector, etc.
There are many different technologies that allow agents to electronically create, sign, and send offers…and the number is seemingly always growing. When buyer's agents use these various technologies, list agents are often forced to adopt each of them to review and reply to the offers. This can get overwhelming to keep up with. With MLS Offers, both agents use whatever technology (or lack of technology) they wish with their own clients to create and sign docs, but when they come together to negotiate with each other, that is only done on the MLS Offers platform.
“Our feeling is that there are plenty of digital form and/or e-signature technologies on the market already and we didn’t want to be another one adding to the frustration agents already experience. We want to be a bridge between the different technologies two agents may prefer to use with their respective clients. Offer negotiations are all we do and we do them really well”, says Fenn.
Please visit www.MLSoffers.com for more info.