Nomad Homes has become the latest startup to try to perfect the full digitisation of real estate transactions. The Dubai based company is offering users the opportunity to view fully checked properties, interact with agencies through a dedicated personal advisor before digitally signing the paperwork. The new Emirati player was co-founded by Dan Piehler and former Goldman-Sachs investor Helen Chen who left a place on the Stanford MBA program to start Nomad Homes. Commenting on the selection of Dubai as a market Chen said:
“Dubai is one of the fastest-growing tech hubs in the world with a massive real estate market – representing over $60 billion USD in transactions every year. Our team’s experience across Silicon Valley, Wall Street and Dubai has shown us the power of technology. We saw the opportunity to digitize the buying and renting experience.”
Following a trend towards fully integrated platforms that facilitate end-to-end transactions, the company’s mission is to make the customer experience “online, seamless and enjoyable.” As eminent VC and founder of European Internet Ventures, Malcolm Myers said in an interview in our vodcast series, this is a model which has had some success in China and which he expects to grow in the coming years.
In differentiating itself from the portals and brokerages, Nomad Homes’ proposition involves personally checking all properties in its inventory and employing specialist advisors to guide customers through all stages of the transaction and deal with agents. The platform also features 3d tours as well as digital document signing to take as much friction away from the user as possible. With fellow ‘curated living’ player Spotahome having pulled out of Dubai some times ago it feels like there is an opportunity for Nomad Homes to make some good headway in the market.