Total 460 words used.
A recent study on the perceived trustworthiness of multiple professions showed real estate agents ranked in the bottom 11 percent. Regan McGee, founder, CEO and chairman of property technology (proptech) disruptor Nobul, aims to change that perception and reaching his goal mandates a major upset in the status quo.
And he is achieving it!
Launched in 2017 by McGee, Nobul is the world’s first true digital open marketplace where estate agents actively compete against one another to represent buyers and sellers based on agents’ transaction histories, service offerings and verified client reviews.
Nobul has already facilitated more than $5 billion in property sales in more than 100 markets across North America. By the close of 2022, McGee expects Nobul will hit $300 million in revenue, expand internationally and ultimately go public.
A little background:
For more than 100 years, the power in real estate has been solely in the hands of the agents. The initial response to McGee’s idea for Nobul was less than enthusiastic. The vast majority of people told him it would never work. They insisted it was just too disruptive of an idea and attempting to change what is literally the world’s biggest industry was impossible. Agents swore the consumers wouldn’t be there, while consumers doubted agents would sign-on.
Well, both are on the platform in massive numbers.
McGee is leveling the playing field by placing more of that power in the hands of the consumer. Prospective home buyers are armed with real, valuable information when using Nobul. They can ensure they have found a solid real estate agent whose work aligns with their values.
It’s honest, open and consumer-centric; even his company’s name is a telling play on words–a noble aim that tolerates no bull. The name refers to two core company values: the ‘noble’ goal of bringing transparency and accountability to the real estate market and that there is no room for nonsense on their platform.
A major market for Nobul is the Millennial generation, an enormous and savvy consumer group that expects full tech-enabled transparency of information. Nobul is bringing real estate in line with the behavior they are accustomed to in every other aspect of their lives.
Also, drawing upon a market of some 1.5 million agents just in the United States, where real estate transactions alone make up 1.9 percent of the nation’s GDP, McGee has clearly made his point. And his venture comes at a pivotal time for the industry, roaring onto the scene on the heels of nearly a dozen antitrust lawsuits, a longstanding, arguably impatient demand for industry reform and an ever-intensifying, Millennial-driven embrace of digital technologies.
McGee saw an opportunity to create and lead a real estate revolution and he took it, even self-funding the venture.
Nomination Title: Regan McGee