Final Offer acquires Openn’s North American operations
Last offeran online offering and negotiation platform for residential real estate transactions, has acquired the North American operations of Open negotiationfurther expanding its reach in the US and Canada.
Last offer is currently available in 10 US states, as well as Ontario and Alberta, Canada. Openn is an Australian company that expanded into Canada in 2022 and has developed integrated products and systems used by the Canadian Real Estate Association (CREA), including integrations with Realtor.ca. By acquiring Openn’s Canadian operations, Final Offer now operates the platform used by most Canadian brokers.
“We are pleased to welcome Openn to the Final Offer family,” said Judd Hoffman, co-CEO of Final Offer. “With our shared commitment to transparent and efficient technology solutions for agents, buyers and sellers, Openn complements the Final Offer platform and enhances our presence and engagement in the US and Canada.”
Like Final Offer, Openn’s goal is to bring more transparency to the negotiation and bidding process. This transparency is even more important given the major changes that will take place in the US market next NAR settlement of commission lawsuits, says Tim Quirk, co-founder of Final Offer.
“In the US, with the changes taking place on August 17, consumers and the marketplace are demanding greater clarity and transparency about how real estate is bought and sold,” Quirk said. “Agents talk about showing and proving the value they provide to customers and what services they can charge. By using Final Offer, agents can prove the results they generate for clients and use that as a tool to market and grow their business.”
Peter Gibbons, founder and director of Openn, will join the Final Offer team. “We have only just begun to see what is possible when the bidding process is clear and the information is trusted,” Gibbons said. “I am excited to partner with Final Offer to expand our mission of providing a transparent offering experience to consumers and the real estate community across Canada and beyond.”
Terms of the deal were not disclosed.
Final Offer has raised nearly $14 million to date, including from Second Century Ventures, the strategic investment arm of the National Association of Realtors, and from more than 100 real estate professionals.
