How Toronto is Shaking up the Real Estate Tech Sector

Toronto is known globally for being Canada’s most populous city. With a thriving downtown and a population in the millions, Ontario’s capital city offers many things to different people.

In recent years, it’s become both a tech monster and home to a significant real estate boom. In the early months of 2022, companies like Microsoft took over four floors of new office space in a prime downtown location. Their neighbours include other tech giants, like Apple and Amazon, with Google opening a new building nearby. At the same time, Toronto’s real estate market continued to see a meteoric rise.

Toronto has the third most tech workers of any North American city, behind only New York City and Silicon Valley, and its tech community is diving into the wild world of real estate.

These are the real estate tech innovations happening in Toronto disrupting the industry, changing how people are buying and selling homes:

An Open Online Digital Marketplace for Real Estate

Real estate agents are notorious for offering their services widely to any willing customer. However, not every agent profile is suitable for every client. So, Regan McGee developed his disruptive digital marketplace Nobul to put the power in the hands of buyers and sellers.

There’s no universal answer to what makes the perfect real estate agent — it’s different for everyone. Usually, Millennials and others entering the market for the first time look for an agent offering competitive rates. Older, more experienced homebuyers need an agent who has closed many high-end deals.

With Nobul, home buyers and sellers can describe their budget and what they’re looking for in a home and have suitable agents message them. The platform’s algorithm has analyzed millions of real estate transactions. By using this algorithm and the data provided by the user, homebuyers save valuable time by having the perfect real agent fall into their lap.

Users can browse agents’ profiles and view their services, fees, and other key stats to make an informed selection about who will help them buy a home.

Valuable Incentives

With more and more real estate tech companies booming, platforms set themselves apart by offering incentives.

With Nobul, for example, not only do agents find you on the best real estate tech platforms, but they’re also so eager to get your business that they offer significant incentives. From additional services and cash back, incentives like these aren’t something you can say no to when making the biggest and most significant purchase of your life.

A long-term mortgage can be an intimidating thing to mull over. Getting a price break upfront lets you breathe a major sigh of relief.

Prioritizing Security and Privacy

The best technology on earth never puts your privacy or security at risk. If apps only deliver a useful service because users sacrifice their privacy, that’s not a transparent or fair deal. In Toronto, real estate technologies, softwares and apps alike, are making privacy and security a priority.

Take Nobul for example. The platform ensures that no user’s personal contact information is ever divulged to the agents. Instead, all communication takes place through the app itself. That way, homebuyers are constantly in touch with agents, but there’s no risk of compromising their personal contact information. 

Toronto has been a major tech destination for years, and its status in the real estate tech space is only growing. Between attracting tech mega giants and producing major industry disruptors, it’s clearly a city on the technological up and up. With stellar platforms like Nobul transforming how homebuyers across North America operate, the real estate tech sector won’t ever be the same again.