NASHVILLE, Tenn. (WKRN) — Buying a home could look very different in the next few months. Not only could agents see changes to their commission, but a new technology aims to shake up how negotiations are made. News 2 spoke with a Nashville agency at the forefront of this new product.

“We are using it now. We’re literally right at the genesis of this,” said Jeff Checko.

Checko and the team at The Ashton Real Estate Group of RE/MAX Advantage are leading the charge with a new way to buy and sell a home. It’s called Final Offer. The technology bills itself as a first-of-its-kind offer and negotiation platform.

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“It’s part of the ever-evolving impact of technology on all business…In real estate, this is an opportunity to create another way for deals to happen,” explained Checko, relocation director at The Ashton Real Estate Group in Nashville.

Here’s how Final Offer works: The seller lists the home on Final Offer. From there, the interested buyer can see three prices: a list price, a final offer price, and a committed price. If the potential buyer chooses committed price, Final Offer allows other potential buyers to bid against that offer for a period of time, bringing more transparency and competition to negotiating multiple offers.

“They’ll be able to see it and make a counter-offer, a competing offer, up against it, and that situation can evolve to the benefit of all parties…It’s a place that everybody gets to go and really put the chips on the table,” Checko said.

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For Checko, technology in real estate is inevitable, and it has the potential to improve the home buying experience for both buyers and sellers.

“For a seller, you have an opportunity when you list on Final Offer, to be able to understand exactly what the interest levels are for your property at all times…On the buyer’s side, you never have to wonder if you are being beat out by some regrettably small measure,” Checko explained, calling it a win for everyone.

Final Offer is active in Tennessee, but it’s being rolled out in more states. The product was invented by a real estate expert in New England.

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