NASHVILLE, Tenn. (WKRN) — Buying a home could change a lot in the coming months. In addition to allowing agents to see changes in fees, new technology aims to revolutionize the way negotiations are done. News 2 spoke to a Nashville agency on the front lines of this new product.
“We're using it right now. We're literally at the very beginning of it,” Jeff Czech said.
Checko and the Ashton Real Estate Group team at RE/MAX Advantage are leading the way in new ways to buy and sell homes. It's called the final offer. The technology is touted as a first-of-its-kind offer and negotiation platform.
“This is part of the ever-evolving impact of technology on every business…In the real estate industry, this is another way to make transactions happen,” said Czech, director of relocation at Ashton Real Estate Group in Nashville. It's an opportunity to create something.”
Here's how the final offer works: The seller lists the home in their final offer. From there, an interested buyer can see her three prices: list price, final offer price, and committed price. If a potential buyer chooses a firm price, the final offer allows other potential buyers to bid on the offer for a period of time, bringing more transparency and competition to multiple offer negotiations. will be done.
“They can look at it and make a counteroffer, a competing offer on it, and that situation can develop to the benefit of all parties… It's a matter of everyone actually putting their chips on the line. “It's a table where you can do it,” Czech said.
For Checko, technology in real estate is inevitable and has the potential to improve the homebuying experience for both buyers and sellers.
“For sellers, listing to final offer gives them the opportunity to always know exactly what the interest rate level is for their property. On the buyer's side, they don't have to worry about whether they're losing out.” Unfortunately, small “It's a win for everyone,” Czech explained.
Final Offer is being implemented in Tennessee and is being rolled out in more states. This product was invented by a New England real estate expert.
