FSBO.com has launched a beta version of its Purchase Agreement Creator Technology (PACT) a digital offer and negotiation platform designed to take home buyers, sellers and real estate professionals from initial offer to agreed terms in a single online workflow.
The company said the tool is aimed at one of the most manual and paper-heavy parts of a residential real estate transaction: drafting, revising and agreeing to purchase terms. The launch comes as more of the homebuying process — from home search to mortgage underwriting — moves into digital environments.
PACT allows buyers to initiate an offer directly from a property listing on FSBO.com, then guides all parties through counteroffers and term changes inside the platform, according to the company announcement. Sellers can review and respond to offers, counter individual terms, request “best and final” submissions and manage multiple competing offers in one interface.
When negotiations are complete, PACT generates a single memorandum of understanding that reflects the final agreed-upon terms and retains a digital record of the negotiation history.
“Real estate has accepted an unnecessarily complicated offer process for far too long,” Brad Rice of FSBO.com said in a statement, describing current workflows as a string of emailed and re-signed documents that can make it difficult to determine what was ultimately agreed to. “We asked a very simple question: Why can’t making an offer on a home be as easy as clicking a button and being guided through the process?” Rice said.
Agents can still manage negotiations
The underlying technology was originally developed at Homepie, a company founded by Rice, and has been expanded and adapted for FSBO.com, the company said.
While FSBO.com focuses on for-sale-by-owner listings, the platform is built to handle transactions involving both represented and unrepresented buyers and sellers. When an agent is involved, they can manage negotiations on behalf of a client while the buyer or seller retains visibility and remains responsible for reviewing and signing terms.
The system accounts for typical deal structures seen in traditional transactions, including multiple offers, contingencies, home sale requirements, leaseback arrangements, individual counteroffers and best-and-final rounds, according to the announcement.
For housing professionals, the move reflects a broader trend of digitizing contract-heavy segments of the transaction, an area that has seen slower technology adoption than listing, search and marketing. A more structured offer-to-contract workflow could reduce errors and coordination time, but it may also change how agents, loan officers and closing providers interact with consumers and with each other.
“Every unnecessary step in a real estate transaction creates friction, consumes time, and ultimately adds cost somewhere in the process,” FSBO.com CEO Mike Kortas said. If technology can simplify those steps and increase transparency, he said, “there is an opportunity to make buying and selling a home more efficient and more affordable.”
Larger overhaul driven by bevri.ai
The PACT beta will first be released to the FSBO.com community for real-world testing and feedback, which the company said it will use to refine the experience ahead of a broader rollout.
The launch is part of a wider platform overhaul at FSBO.com. The company has been building tools to simplify how homeowners create and market listings and is now extending that experience from offer to agreement. The next phase will target the “contract to close” segment.
In partnership with bevri.ai, FSBO.com is developing technology to connect services, vendors, financing resources and transaction support needed to move a sale from accepted offer through closing. The companies say the goal is to tie together a fragmented ecosystem — from lending and inspections to title and escrow — while still allowing professionals to participate where they add value.
“Consumers should not have to understand every piece of an incredibly fragmented real estate ecosystem just to successfully complete a transaction,” bevri.ai CEO Jonathon Haddad said.
FSBO.com executives see PACT’s usefulness extending beyond for-sale-by-owner deals and beyond the company’s own marketplace, potentially providing a standardized digital offer and negotiation layer for represented transactions as well.
This article was generated using HousingWire Automation and reviewed by a HousingWire editor before publication.
