Offer Management Technology Bolsters Fair?Housing Compliance

Digital offer management is a technology solution provided by MLS Offers that allows real estate professionals to submit, receive, negotiate and manage all offer related activity in an organized online environment.

This technology is rapidly gaining in popularity because it moves all offer related communication between agents out of cluttered email inboxes (and spam) and onto a platform that allows for a complete audit trail of all offer terms, documents and back-and-forth correspondence between the parties.

By facilitating a standardized and centralized online online offer process, the platform ensures that all offers are received and presented in the same format every time so they are on equal footing.

Our team talks a lot about all the benefits MLS Offers provides for agents, but it’s important to also realize the advantages that digital offer management provides consumers on both sides of the transaction.

When their agent submits their offer through MLS Offers, consumers can rest assured that their offer was delivered successfully to the listing agent and it didn't end up in a spam box or lost among other offers in multiple offer situations. Their agent will receive an immediate confirmation of successful offer submission and will be able to see the offer logged in their account with a time and state stamp. The buyers themselves will also receive a confirmation email from MLS Offers, containing all details of their offer.

Listing agents are able to manage all offers received on a property in one location and within a clean and organized interface. When presenting offers to sellers, they can create offer reports and even remove buyer names if they or their sellers want to remove any potential conscious or unconscious bias from the offer review, comparison and selection process.

Also, by saving and logging all offer terms, documents and correspondence shared between the parties, our agent-friendly tech creates a complete audit trail that adds a level of compliance and transparency that does not exist with email. We do not allow offers or any related documentation or communication to be deleted. This ensures that all offer information is retained and cannot be intentionally hidden.

This transparency gives both agents and consumers confidence that their offers and all related communication has been delivered successfully. The other party cannot claim they didn't receive an offer, counteroffer or any piece of communication, or that it went to spam. with a full record of communication, all he said/she said disputes are also eliminated. This gives consumers full confidence that they are competing on a level playing field.

Additionally, when we partner with an MLS, all offer related documents and communication are saved for the required amount of time to meet your compliance requirements. Exporting all offer /transaction documents and all related communication when needed is a fast and simple process. It literally takes seconds.

Lastly, I think it's important to mention the powerful data opportunity that real-time digital offer management creates. Historically, offer and counteroffer terms submitted and negotiated have never been able to be analyzed, especially for offers that are rejected. As MLS Offers gains widespread adoption, we are providing MLSs with access to this raw offer data so they can help their members better understand market conditions, offer activity, buyer/seller behavior and more.

These insights can be crafted around criteria such as location, property characteristics, price points, etc. This data can arm consumers and their agents with the knowledge they need to ensure they are making highly informed offer decisions that put them on a level playing field with all other market participants.

MLS Offers licenses its patented offer management solution to MLSs, which gives every MLS member their own secure account to facilitate all their offer activity. As a member of the CoreLogic Alliance Network, MLS Offers is fully integrated with their Matrix MLS listing platform, but can also be integrated with any other MLS software platform. This allows MLS Offers to feel like an extension of the MLS, which leads to a seamless offer experience and a significant adoption rate.

MLS OFFERS JOINS THE CORELOGIC ALLIANCE NETWORK

To learn more about about MLS Offers or to request a demo please reach out to me, Alan Fenn, or contact your Corelogic account rep today.