DropOffer uses an artificial intelligence component to support the buyer in their pursuit of the perfect home, a feature that provides in-depth market and property analysis to the user to support their outreach and potential offers.
Whether it’s adjusting your business model, mastering new technologies, or finding strategies to gain the next market advantage, Inman Connect New York will prepare you to take the next step. The Next Chapter is about to begin. Be a part of it. Join us and thousands of real estate leaders Jan. 22-24, 2025.
DropOffer, the company whose slogan is “Close the market,” has released an update to its solution to help buyers find unsold homes, according to a report dated September 30.
A mobile first, DropOffer used a fully web-enabled iteration of its platform to allow motivated buyers to move forward with a deal without representation. The company encourages its users to engage with an agent, according to the release, but believes the option should be available to consumers.
The company likened its updated offering to Facebook Marketplace, a direct buyer-seller connection. DropOffer uses an artificial intelligence component to support the buyer in their pursuit of the perfect home, a feature that provides in-depth market and property analysis to the user to support their outreach and potential offers.
DropOffer’s argument in the market is that “the real estate market has traditionally been dominated by 1 percent of publicly listed homes, leaving 99 percent of potential properties hidden.”
Its case for sellers is that the app also gives them a private opportunity to set up their home in the network of DropOffer users – active buyers and investors.
“This increases exposure and ensures that sellers receive offers from genuinely interested buyers, reducing the time and stress often associated with the sales process,” the press release said.
The features of the application include tools to facilitate the communication of many companies, especially between buyers and sellers, but sufficient cooperation for agents or other stakeholders to participate. It also offers a streamlined, time-stamped and trackable offer engine and chat channel.
The company’s AI methods provide insights into the properties, and help the seller understand the buyer’s financial situation, including verification of proof of funds and any legal eligibility.
Sellers are also provided with information to upload their homes for buyer consideration, allowing for a rich marketing experience similar to that used by many brokerages.
“This is the first platform that empowers regular buyers, not just investors or agents, to initiate real estate deals directly with homeowners,” said DropOffer CEO and co-founder Greg Burns.
New Western, a local portal for single-family investors and remodelers, offers a similar alternative sales model, as does Final Offer.
Off-market sales have increased but remain a small part of the overall market. Companies like DropOffer want that to change but for now, they operate in a small corner of the space.
In January 2023, Inman reported on a 2022 survey by the National Association of Realtors that found the market’s sales were at a 22-year high, up 10 percent. A year later, that report found that number had dropped to 7 percent.
The premise of DropOffer is that consumers want more variety than what the traditional market offers and that by opening up the outside market, the entire market can be revitalized.
Related to that debate is the start of new, AI-driven search models that allow buyers to find the homes they love using specific requests, such as “viewing a ski resort with access to public transportation” or “white kitchens with high ceilings and farmhouse sinks.” Although several homes with such descriptions may be available, they are not sold, thereby dampening the buyer’s interest in moving forward and in many ways wasting their agent’s time.
With enough traction, companies like DropOffer can alleviate that plethora of options. A bold model, but not one without justification.
“We are excited to introduce a platform that not only opens up a new world of opportunities for buyers and sellers but also equips agents with the tools they need to succeed in a competitive market,” said Kamani Clark, founder of DropOffer. , in a press release. “Our mission is to transform architecture by bringing transparency, efficiency, and innovation to every transaction.”
Email Craig Rowe
