An Input-Based Approach to Joint Decision-Making
Co-buying decisions are complex and multi-dimensional.
An input-based approach simplifies making tough decisions by breaking each one down into its basic components or 'inputs.' This method allows co-buyers to focus on individual elements, making decisions that are more clinical and less overwhelming.
💡 Fast Facts
Group decision-making is proven more effective when decisions are broken down into stages and consensus is systematically built.
Evidence also suggests that smaller groups of 5 or fewer people are better at making important decisions.
Like completing a puzzle, a structured approach to co-buying is best. To solve a puzzle, you first find the edge pieces and complete the perimeter. You can then group the remaining pieces by color and use the picture on the box to fill in the middle bit. This course defines a similar methodology to tackle co-buying.
Those who "just wing it" are likely to run into problems. Without a process or structure, many of these groups struggle to make progress and end up stalling. The more troubling scenario arises when one of these groups manages to close on a home purchase, and a problem presents itself later and larger, leading to litigation or worse.
⚠️ Common Mistake
58% of US homebuyers start by searching for homes online. Most report that they “...lack the education they need to feel confident purchasing a home.” Source
Matt Holmes (LinkedIn) is co-founder and CEO of CoBuy, formed in 2016 to unlock homeownership for everyone. Before hopping a flight to Seattle to start CoBuy with his mother, Matt worked in investment banking and financial markets in London for a decade. He holds degrees from University College London (BSc Economics) and ESCP Business School (Masters, London & Turin).
Pam Hughes (LinkedIn) is Co-founder and COO at CoBuy. She has over 40 years of experience across finance, real estate, insurance, and construction. Pam has committed to personal empowerment through financial education for decades, which inspired her to start CoBuy with her son in 2016. She's best friends with a small dog known as Francis.
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