Earlier this year, Deloitte released its Fast 50 list, a roundup of the fastest-growing tech companies across various industries. At the top of the list was a name familiar to many modern homebuyers: Nobul.
Launched in 2016, the real estate tech company, helmed by innovator Regan McGee, rapidly gained undeniable steam thanks to its disruptive, consumer-first mission. Tackling an industry infamous for opacity and inconvenience, the company strove to give voice to millions of real estate consumers frustrated by the status quo. And it succeeded.
“I came up with the word (Nobul) because it refers to two core company values,” McGee told Superb Crew. “The ‘noble’ goal of bringing transparency and accountability to the real estate market, and the other is that there is no room for ‘B.S.’ on our platform.”
How does Nobul enact these company values? What unique features and benefits does it leverage? In this article, let’s take a closer look at one of the fastest-growing tech disruptors in real estate.
Table of Contents
AI-Generated Match Scores
Nobul’s flagship service is its matchmaking capabilities between consumers and real estate agents. Unlike other platforms that benefit agents (acting more like a lead generation engine for practitioners), Nobul benefits the consumer. It allows consumers to enter criteria like commission rate, minimum verified reviews, language, specialties, etc. Then, using a proprietary AI algorithm, the platform recommends nearby agents. Notably, the platform draws from data unavailable elsewhere – like sales histories, verified reviews, etc.
The Benefit
Before Nobul, consumers were at the mercy of word-of-mouth (or bus shelter ads) to find a real estate agent. Agents often practiced aggressive lead generation tactics, obscuring their negative reviews, commission rates and transaction histories, further leaving consumers in the dark. Nobul’s match scores are, therefore, a massive win for real estate transparency.
A Competitive Marketplace
Once a consumer finds a shortlist of agents that match their criteria, the consumer can make those agents compete for their business. Agents compete by offering lowered commission rates, attractive terms, etc. This is what the company means by creating a “marketplace”; it borrows the idea of an open marketplace found in other industries (like retail, hospitality, etc.) and applies those principles to real estate.
The Benefit
With an open marketplace, the real estate agent hunt resembles a job interview process. Consumers entrust their agents with the biggest transaction of their lives. It makes sense that they would want to vet their options, shop around for deals and ensure they receive the best possible service.
Consumer-Centric Informational Resources
In addition to its core value prop as an agent-matchmaking marketplace, the company features several consumer-focused resources. Some of these resources are informational, like market conditions indicators, local buying guides, calculators, average property taxes in specific locations, etc. And some of these resources leverage technology to facilitate easier transactions (see the company’s recent announcement about Blockchain contract management).
The Benefit
“We are always thinking about new ways to help the consumer and we are always adding cool, interesting functionalities to our platform,” Regan McGee tells Medium. It’s part of the company’s overall mission to become a one-stop shop for real estate consumers — where they can find actionable resources, transparent information, options and negotiating leverage.
When Deloitte handed the Fast 50 trophy to Nobul this year, no one was surprised. The company continues to define itself by consumer-centrism in an otherwise inhospitable industry, demonstrating that real estate can be convenient, simple and empowering.
