Geosmartvalue: A tech leader in real estate
CEO Manake shares journey as female entrepreneur
Geosmartvalue is inculcating the use of technology into the booming real estate sector, and strives to level the playing field between those with experience, exposure and financial muscle and the newcomers to real estate, looking to build their portfolio.
In an interview with Botswana Guardian, founding director of Geosmartvalue Sethebe Manake said that their focus is to make as much information available for all decision makers in real estate from the beginner investor, the dabbler and the aggressive investor, to the real estate professional who wants to add that extra X- factor to how they service their clients.
Most importantly they want financial institutions to enable easy access to customised market insights and transactions in real estate across the country, increasing transparency in the market and hopefully reducing the presumed risk in areas that have not been traditionally bank financed.
“To put it simply, we enable banks to see how property is performing in areas they have not yet financed so that they can consider financing those areas based on real data analytics,” she said.
The property industry is very competitive nowadays and it is important to keep up with trends and evolve with the times. Manake says Geosmartvalue is doing that by inculcating the use of technology, which also sets them apart.
“Back in 2017 I realised that the advancement of technology globally in other industries was changing the requirements and expectations of our clients.
The more technology gets intertwined into one’s life the more they expect when they are being served, they want instant responses, increased accuracy, they want independence and flexibility so that they can do what they want at a time that suits them,” Manake said.
She said that even as Botswana clientele have not fully reached that description, it is increasingly common and
“we want to meet them and those that are interested in real estate in the continent at their point of need, rather it be a pleasant surprise than a delayed satisfaction.”
In recent years they have seen the rise of ‘ greening’ and many companies are adopting an eco- conscious and green technology culture.
Her company has embraced ecoconsciousness by infusing the core Environmental, Social and Governance ( ESG) principles in how they do their business and work.
She noted that when it comes to environmental factors, they consider as much as possible reducing carbon emissions and footprint in what they do, which is why they have applied remote work instead of having teams drive to an office on a daily basis.
“We also encourage virtual consultation with our clients, and only go to site or any location when it is absolutely necessary. Our Automated Property Valuations are also testament to the reduction of our impact on the environment and contribute towards sustainable development in our own way,” she said.
Regarding social factors that are more focused on labour relations, management and inclusion, they have reviewed their employment model to be inclusive creating room for different kinds of Independent Contractors who play a role in their value chain.
“We prove the training, tools, mentor and empower them to earn their own living as we provide the support. This programme is open to graduates in the real estate sector so as to open up the industry for them and help them over those barriers of entry that exist.
“We hope to have as many of these Independent Contractors across the country as possible. We also have an inclusion programme for those that provide Internet services especially in the rural areas, so that they can assist people to access our services online and also increase their revenue in that value chain.
“We take community participation and inclusion seriously, and are also looking for various ways for those that wish to be part of the digital transformation of the real estate industry can be part of that journey. We are a start- up, so we have to be very creative in how we think about our distribution channel and how we can support them and still remain profitable,” she said.
Manake said that the Governance in ESG is critical as they deal with very critical data as such, the company has a strong board that continuously guides and ensures that they remain within ethical and legal boundaries.
Artificial Intelligence ( AI) is the entire rave nowadays and Manake said that their AI and Machine Learning ( ML) technology is visible in business tools to engage with their customers.
They collate the information about clients as much as possible to enable them serve effectively.
“We integrate information enriching tools so that your experience is the same no matter who is serving you,” she said, further explaining that in terms of the solutions, AI and ML are crucial to predictive analytics for both the valuations and the market trends predictors.
“We incorporate them to ensure that we provide our clients with increased accuracy, reliability and transparency,” she added.
Manake has not allowed her gender to hold her back when it comes to business. Indigenous Batswana women have been excluded from business and economic trade for ages due to marginalisation, poverty and patriarchy.
Access to formal education and training and work opportunities has exposed women to the plethora of opportunities in the career and business spectrum.
Manake said that the only thing that holds some people back is attitude and mindset.
“Batswana have a lot to offer and we suffer a lot from self- doubt, on the other hand we do not have a strong ecosystem/ community that truly supports innovation, creativity and business in general,” she said.
She urged women entrepreneurs in particular to be bold and brave. “My encouragement to other women who have these brilliant ideas that scare them, these audacious aspirations, is that clench your teeth close your ears, look forward and run.
“It’s going to be tough, our market is very tough but it is not impossible, so master your business model, learn about what the global trends are in your sector, find your niche and move,” she said.