The Property Guide is hoping to leverage on the demand for a virtual marketplace for potential buyers and sellers, and has attracted over 1,000 listings since its launch last year.
The website enables users to search for property for sale or rent by location, type of property and price, making easier for buyers or potential tenants to get exactly what they are looking for.
“We launched our beta version in October 2012, we have grown from a basic listing platform to a more structured property vertical,” said Nicolas Simiyu, Project Manager of The Property Guide.
“Our traffic is pretty decent for a website that started less than 5 months ago, we are above the 10K (10,000) mark per month. To note, this is organic traffic,” Simiyu added.
They have already started monetising the website by charging for listings. Simiyu explains they have different levels of charges depending on the property and the companies listing.
Simiyu said: “Our platform is to some extent self-service, we are working to make if fully self-service, including integrating a payment gateway. However, we are always at hand to assist anyone posting properties.”
The challenges of getting into this market stems from the fact the online property market is flooded with various classifieds. The key challenge for the industry is the lack of quality information. Simiyu says for a property to sell well online, you need to have at least four well-taken photos of the property.
The site offers virtual tours on selected listings. This enables potential buyers or tenants to fully evaluate the property as if they were there physically.
“Throughout the challenge, a bright future awaits for the company. We have a five-year road map that will see us expand out of Kenya,” Simiyu said.
He stated the company needs to solidify its market position in Kenya before launching into other markets. They are seeking partnerships and funds in debt or equity.
