The Future of Real Estate Transactions: Streamlining the Process with Nobul
Finding a dream home in New York has traditionally been tough work. Not only do you have to scrimp and save for a sizeable down payment, but you have to fight through the rigamarole of finding a reputable agent, evaluating your options, dialling in your budget and juggling the stacks of real estate paperwork involved in the transaction.
At least, it used to be tough work. Thanks to the recent boom in proptech (property technology), being a real estate consumer is getting easier. And leading that shift toward a streamlined future is Nobul, one of the fastest-growing tech companies in any sector.
In this article, let’s explore how the company – which dubs itself an “end-to-end real estate digital platform” –streamlines the buying and selling process.
Comparing Real Estate Agents with Big Data and AI
Despite a recently-added suite of features (more on those below), Nobul is primarily known for its agent matchmaking services. However, unlike other real estate agent websites, the company does not work for agents. It is firmly in the consumer’s corner. The company uses a proprietary AI-powered algorithm to comb through reams of transparent data on local real estate agents, showing consumers their top matches and creating a competitive environment among the top-listed agents.
CEO Regan McGee explains it to Bloomberg: “Whether you’re looking to buy or sell real estate, you put in basic pieces of information. Agents then compete for your listing or your buy. They’ll give you their proposal where it outlines exactly what they’re including and what they’re excluding, what their track record is, and reviews from people that have actually used them.”
Fast Algorithms for Even Faster Home Valuations
As part of its expanding offerings, the end-to-end platform now offers a lightning-fast home evaluation tool. Sellers keen to unload their properties in a hot market can find precise insights in just a few minutes so that they can kickstart the process quicker. Unlike some other AVMs, Nobul’s tool uses an algorithm that synthesizes several valuation models, yielding a more accurate result.
Document Management on the Blockchain
Very recently, Nobul announced its partnership with IBM’s Hyperledger, an ultra-secure network of open-source blockchains. The company added the new functionality “to help manage the tangled web of contracts involved in the home buying and selling process today.”Consumers can streamline the transaction process by storing their documents in a single, secure, distributable online space. And further down the pike, Nobul indicates that it may incorporate “smart contracts,” which further remove third parties from the transaction process, making it faster and less expensive for consumers.
The Whole Transaction on a Single Platform
When the company says “end-to-end, it means end-to-end. In an attempt to become a one-stop-shop for real estate transactions, Nobul also incorporates property listings, free consumer resources (like affordability calculators, mortgage comparisons, etc.), a communication hub to connect with your realtor, market conditions reports and more.
By collating and localizing these several resources in a single platform, the company is creating the future it wants to see for the real estate industry. A future that’s transparent, convenient, consumer-empowering, educational and secure.
