If results fall the predicted way, the second-placed Cats will face the third-placed Dockers in one of the two qualifying finals in week one.
If that were the case, Kardinia Park – which has recently undergone a significant upgrade – would likely be the AFL's preferred venue to play the match.
Simonds Stadium now has a capacity of 33,500.
"Finishing second does earn you the right to have an advantage," Demetriou said on radio station ABC 774.
"We are seriously contemplating as a one off (playing the game in Geelong).
"It's certainly a real possibility."
However, if the Cats were to face the Sydney Swans or a Victorian based team, the Geelong proposal would be out of the question, according to Demetriou.
The idea of playing a Geelong-Fremantle final at Simonds Stadium came about because of a tricky fixturing dilemma.
With Hawthorn, Richmond and Collingwood all set to host home finals at the MCG in week one of the finals, the AFL needs to find a suitable alternative for the Cats.
Demetriou said the AFL is questioning playing the Cats-Dockers game at Etihad Stadium because the expected crowd attendance would only be around the 33,000 mark.
Fremantle has already stated its opposition to playing the game down in Geelong, describing it as "inconceivable".
The AFL would also consider the economic benefits for Geelong when figuring out the schedule, with Demetriou already having spoken to Cats CEO Brian Cook.
A game in Geelong would potentially bring in more than $5 million for the local economy.
Twitter: @AFL_BenGuthrie
