{"id":75311,"date":"2023-06-14T21:40:02","date_gmt":"2023-06-14T21:40:02","guid":{"rendered":"https:\/\/startup.info\/?p=75311"},"modified":"2023-08-14T21:45:31","modified_gmt":"2023-08-14T21:45:31","slug":"kiriza-a-real-estate-marketplace-startup-with-an-aim-to-change-the-industry-in-tanzania","status":"publish","type":"post","link":"https:\/\/www.bonjouridee.com\/en\/kiriza-a-real-estate-marketplace-startup-with-an-aim-to-change-the-industry-in-tanzania\/","title":{"rendered":"Kiriza: a Real Estate marketplace startup with an aim to change the industry in Tanzania"},"content":{"rendered":"

A marketplace is a platform that allows providers to list a product\/service and interested individuals (buyers) acquiring the offering either socially (by getting advise, exploring multiple listing options and comparing them) or economically (through <\/span>exchange of currency). In marketplaces, buyers can be providers and providers can be buyers. This reversal of roles leads to greater productivity since the eco-system leads to great feedback which in turn improves <\/span>user experience.\u00a0Kiriza<\/strong><\/span> primarily is a real estate marketplace that aims to imitate what the IT Industry did when it crossed over to other industries.\u00a0 Backed by creativity, Kiriza aims to improve the Real Estate Industry in Tanzania, before crossing over into sectors that for years have involved Real Estate to successfully operate and function. Furthermore, Kiriza being <\/span>a private business plans to work hand in hand with the Government and other Private Firms such as Property Development, Home Staging and (Interior Design) Companies to realise its dream.<\/span><\/p>\n

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Problem<\/strong><\/span><\/p>\n

After extensive research that started in <\/span>November, 2016. These are the identified problems in Real Estate in Tanzania. They are broken down based on the customer segments.<\/span><\/p>\n

Property Managers\/Agents\/Agencies<\/em>: They have to hunt down leads, schedule prospect tours\/visits under the scorching sun that result to nothing. High operational costs incurred and direct competition from Unlicensed Agents locally known as <\/span>Dalalis. High jacking of Properties among Real Estate Professionals, this fear our potential customers have is affecting <\/span>Kiriza\u2019s growth too. Most buyers don\u2019t have background information in Real Estate; hence Listing Providers have to spend a lot of time educating them before beginning transactional talks.<\/span><\/p>\n

Property Owners\/Sellers<\/em>: Lack of Real Estate background to properly value their properties. Lack of transparency between Owners and Licensed Real Estate Professionals, especially when it comes to finding customers. Most Owners don\u2019t update Real Estate Professionals when they sell their properties, and only inform them after they (Professionals) have spent substantial sums of money to market these properties, chase leads and convert prospects into buying customers.<\/span><\/p>\n

Properties that operate in the \u201cfast economy\u201d such as Conference Halls or Meeting Rooms don\u2019t receive the special attention and end up getting lost in platforms that advertise residential or commercial properties more.<\/span><\/p>\n

Buyers<\/em>: Lack of Real Estate Information which prolongs social interactions between Listing Providers and Buyers. Unlicensed Agents occasionally hike prices, sell one property to more than one customer hence causing land\/property wrangles with court cases that take years to end. Buyers have to physically move from one property to another and it usually takes them days to find what they want; and upon finding what they want, Unlicensed Agents demand payment within 48 hours with false statements stating that they will lose the property to other <\/span>people, if they don\u2019t pay. It is difficult to find a property or venue to host an event (such as birthday party, engagement and retreats) that is affordable, many people are forced to opt to restaurants, resorts or expensive hotels.<\/span><\/p>\n

Service Providers<\/em>: Those who are starting up, or don\u2019t market themselves well fail to stand out and be noticed by customers who desperately need their services. At the end of the day, they are forced to resort to wrong methods to make money for themselves and their families.<\/span><\/p>\n

Validation was done through a methodology coined at Toyota, in Japan called Genchi Gembutsu<\/em> which in English translates to \u201cGo and See for Yourself\u201d Based on this method, <\/span>it of paramount importance that one understands the business problem, not take anything for granted and simply not just rely on other people\u2019s reports based on their research.<\/span><\/p>\n

I took <\/span>time to approach each potential customer segment to understand their needs, problems, challenges and demands. This was done through surveying professionals in their offices, questioning relatives, family friends and their friends, and experiencing the hardships of acquiring a rental property first hand.<\/span><\/p>\n

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Advantages of Kiriza<\/strong><\/span><\/p>\n

After doing research in Tanzania, these\u00a0are the advantages Kiriza offers:<\/span><\/p>\n