Knowledge gaps are a normal part of life. Every adult has educational blind spots – whether it’s how to point out Greece on a map, how to cook a medium rare steak or drive a standard automobile.
Mostly, these knowledge gaps are harmless, a testament to our brain’s finite capacity for learning and skill acquisition.
But sometimes, these knowledge gaps can be costly – literally. Case in point: real estate consumer education. Buying real estate is a common rite of passage for people in early adulthood, yet, several consumers are woefully undereducated on basic tenets of real estate investment, like market conditions, finding the right agent, financial planning, etc.
Nobul is helping to remediate the issue. The real estate digital marketplace, founded by industry expert Regan McGee, is explicitly pro-consumer – emphasizing buyer empowerment and transparency. In this article, let’s review a few ways the pioneering company helps bridge first-time buyers’ knowledge gaps.
Transparent Agent Information
Real estate agents are a gateway to real estate knowledge – but they shouldn’t be the gatekeepers. In the past, real estate agents hid pertinent information like transaction histories, verified reviews, commission rates, etc. Nobul makes all that information public and transparent, aiming to hold the industry accountable.
As a first-time homebuyer, you can use Nobul to find the right agent. Enter your criteria, and the platform’s algorithm will recommend agents based on a “match score” of relevancy.
You’ll be able to see all the pertinent information on each of your choices so you can make an informed decision. Then, agents can compete to represent you by offering attractive terms or services.
While most people come to Nobul for its innovative agent marketplace, they stay for the wealth of resources. One indispensable resource for first-time buyers is the collection of local market reports the platform publishes.
Market reports detail the dynamics of a particular city’s real estate market: price trends, listings trends, “days on market,” etc. Critically, the platform offers a “market conditions indicator” based on inventory and demand that tells you whether you’re in a “buyer’s market” or “seller’s market.”
Enter your city (or the city where you plan to buy) to find real-time insights on the market.
Tools and Resources
The platform also offers a suite of tools for first-time buyers, like an affordability calculator, payment calculator and mortgage comparison resources.
Often, first-time homebuyers eke through their purchase on a shoestring budget. In some unfortunate cases, they are pushed into overspending by an agent eager to reap a larger commission cut.
As mentioned, Nobul attempts to dissuade this practice by bringing transparency to the agent marketplace. But they also enable consumers to take a proactive approach to financial matters. Use the platform’s various calculators and toolkits to stay on budget throughout the transaction.
If you’re a first-time homebuyer in search of answers, Nobul is a fantastic first step. You will find actionable advice, educational resources and selling agents tailored to your values sensibilities.