U.S.-based Final Offer has launched its online real estate negotiation service in Canada.

The service, also known as Final Offer, is intended to make residential real estate transactions more transparent. The service has widespread implications for condominium sales and purchases as well as deals involving single-family homes.

Final Offer is now only available in Ontario but the company plans to roll it out to other Canadian markets. The service is available to real estate brokerages, agents, home sellers and buyers to leverage the negotiation and offer process, says the company.

Royal LePage Signature Realty, Royal LePage Your Community Realty and Royal LePage Connect Realty have partnered with Final Offer, providing subscription to brokers on the seller side.

According to a news release, agents submit offers for their buyers on finaloffer.com. Prospective buyers can have their agents submit a final offer at any time and immediately put the home under contract.

Final Offer aligns itself well with Ontario’s Trust in Real Estate Services Act, which is designed to make the bidding process more open and fair, provide greater consumer protection and enhance brokers’ professionalism.

“Potential buyers and their real estate agents receive real-time notifications of any action on the property, including when offers are made,” said Final Offer in the news release. “Every buyer gets a fair shot at purchasing the property for its true market value.  Sellers are confident they got the best outcome and achieved their goal.”

Licensed real estate agents, sellers and buyers are all eligible to sign up for an account on finaloffer.com. The service is free to sellers, buyers and real estate agents making offers for their clients.

Agents representing sellers need to purchase a monthly subscription fee.

“The ability to see offers in real time and to set and make a final offer creates greater transparency and puts all parties in control,” said Chris Slightham, owner and president of Royal LePage Signature Realty. 

“After introducing this platform to our realtors, they are seeing the confidence it gives their clients when making purchasing decisions. I believe Final Offer is going to change how real estate is transacted in Canada and beyond.”

Bid transparency and visibility are particularly important during a time of high housing costs in Canada, said Final Offer Senior Vice-president Nathan Dart.