FSBO.com has introduced a beta version of its Purchase Agreement Creator Technology (PACT), a digital platform designed to streamline the process of drafting, negotiating, and agreeing to terms for home purchase agreements, aiming to reduce friction and increase transparency in real estate transactions.
The launch of PACT by FSBO.com signifies a move to digitize and streamline the often complex and paper-intensive process of negotiating home purchase agreements, potentially reducing friction, time, and costs for buyers, sellers, and agents.
FSBO.com has introduced a beta version of its Purchase Agreement Creator Technology (PACT), a digital platform aimed at simplifying the offer and negotiation process in residential real estate transactions. The tool is designed to move buyers, sellers, and real estate professionals through initial offers to agreed terms within a single online workflow, addressing what the company describes as a traditionally manual and paper-heavy part of the process.
Pact allows buyers to initiate offers directly from property listings on FSBO.com and guides all parties through counteroffers and term modifications. Sellers can review and respond to offers, manage multiple competing submissions, and request best and final offers through the platform's interface. Once negotiations are finalized, PACT generates a memorandum of understanding that captures the agreed-upon terms and maintains a digital record of the negotiation history.
The underlying technology was originally developed at Homepie, a company founded by Brad Rice, and has been adapted for FSBO.com. The platform is built to accommodate transactions involving both represented and unrepresented buyers and sellers, with agents able to manage negotiations on behalf of clients while clients retain visibility and signing authority. The system supports various deal structures, including multiple offers, contingencies, and best-and-final rounds.
FSBO.com CEO Mike Kortas stated that simplifying steps and increasing transparency through technology can make buying and selling homes more efficient and affordable. This move reflects a broader industry trend toward digitizing contract-heavy aspects of real estate transactions, which have historically seen slower technology adoption compared to search and marketing.
The PACT beta will undergo real-world testing with the FSBO.com community before a wider rollout. This launch is part of a larger platform overhaul at FSBO.com, which is also developing tools for listing creation and marketing. The company plans to address the 'contract to close' segment next, in partnership with bevri.ai. This collaboration aims to integrate fragmented services like lending, inspections, and title work into a cohesive process, allowing professionals to participate where they add value. FSBO.com executives believe PACT's utility could extend beyond for-sale-by-owner deals and its own marketplace, potentially offering a standardized digital layer for represented transactions as well.