Nigeria - Business creation project

Describe your project or startup in a few words

A comprehensive property technology platform designed to streamline residential property management, enhance tenant-landlord communication, and integrate smart home features for a seamless living experience for Nigerians and Africans.

01.01 Describe your project in more detail

Residence Proptech is poised to redefine the real estate landscape in Nigeria through an innovative online platform. Designed for established real estate agents and companies, our marketplace allows verified entities to list properties for sale or lease, ensuring only direct listings are showcased. Users can effortlessly submit property requests, specifying desired locations and preferences. Central to our platform is robust agent verification, validating addresses, confirming physical offices, and verifying business registration. Membership in national real estate bodies enhances credibility, with verified agents displaying a distinctive checkmark. This validation empowers agents to list properties and offer ancillary services such as property valuation, management, inspections, and online property management tools—all accessible for a fee.

01.02 What is the main problem you are trying to solve?

Residence Proptech addresses the lack of transparency and reliability in Nigeria's real estate sector. Current challenges include difficulty in verifying property listings and agents, lack of centralized platforms for property transactions, and limited access to comprehensive property management services. These issues often lead to distrust among stakeholders, inefficiencies in property transactions, and missed opportunities for secure investments. Residence Proptech aims to establish a trusted marketplace where verified agents can list properties transparently, offering enhanced services like property management to streamline transactions and provide peace of mind to buyers and sellers alike.

01.03 Tell us the major benefits and/or advantages of using the product/service that your project intends to provide (at least 3).

Residence Proptech offers several key benefits: Trust and Transparency: Verified agents and direct property listings ensure transparency and reliability, mitigating risks associated with fraudulent transactions. Users can confidently engage in property transactions knowing they are supported by a trustworthy platform. Comprehensive Services: Beyond property listings, Residence Proptech provides a range of services such as property management, valuation, and inspections. These services are designed to streamline the entire property lifecycle, from listing to transaction closure, enhancing convenience and efficiency for both buyers and sellers. Enhanced User Experience: The platform simplifies property searches and transactions through intuitive user interfaces and robust features. Agents benefit from tiered membership options that expand their listing capabilities and access to premium services, fostering business growth and client engagement.

01.04 Please describe who exactly your project is aimed at serving. Who are the targeted beneficiaries?

Residence Proptech primarily serves two key groups: property buyers and sellers, and real estate agents and companies in Nigeria. Buyers and sellers benefit from a trusted platform where they can find verified property listings, transparent transaction processes, and comprehensive property management services. This ensures security, reliability, and convenience in their real estate transactions. For real estate agents and companies, Residence Proptech offers a streamlined marketplace to showcase properties, enhance their credibility through verification processes, and access additional services like property management and valuation. Tiered membership options provide flexibility to scale their business and reach a wider audience, fostering growth and client trust.

01.05 When did you start working on your project?

2023-02-02

01.06 How many other partners are associated with your business venture?

0

01.07 Among the other partners, how many are female?

0

01.08 Please describe the profile of each of the other partners (skills, experience, etc.)

As the founder of Residence Proptech, Abiodun Adeniji brings a dynamic blend of skills and experience to the venture. With a diploma in Real Estate Management and Valuation, Abiodun has a solid foundation in the intricacies of the real estate industry. As a seasoned software engineer with expertise in Wordpress, PHP and Laravel I possesses hands-on experience in developing scalable web applications. My proficiency extends to project management, where I excel in planning, execution, and team coordination. Passionate about leveraging technology to innovate within the real estate sector, I am dedicated to building Residence Proptech into a trusted platform that revolutionizes property transactions in Nigeria.

01.09 If you have a website, a social media page (Facebook, Instagram, Linkedin…), or app, please provide the link here:

https://www.linkedin.com/company/residence-realty/

01.10 Which industry best describes your project?

k) Property (real estate)

02.01.01 My project contributes to the No poverty goal

6

02.01.02 No poverty - Justification

Residence Proptech contributes significantly to the SDG of No Poverty by fostering economic empowerment through transparent and accessible real estate transactions. By providing a trusted platform for verified agents to list properties and offer essential services such as property management and valuation, Residence Proptech enhances opportunities for property ownership and investment. This not only stimulates economic growth in the real estate sector but also creates job opportunities, particularly benefiting local communities. By promoting fair and secure property transactions, Residence Proptech helps reduce inequality and empowers individuals and families to achieve financial stability and improve their quality of life.

02.02.01 My project contributes to the Zero hunger goal

1 - Strongly Disagree

02.02.02 Zero hunger - Justification

02.03.01 My project contributes to the Good health and well-being goal

5

02.03.02 Good health and well-being - Justification

Residence Proptech indirectly contributes to the goal of Good Health and Well-being by promoting stable living conditions through reliable property transactions. Access to secure housing and improved living environments positively impacts physical and mental health outcomes for individuals and families. By facilitating transparent real estate transactions and ensuring property quality through verification and inspection services, Residence Proptech supports healthier living conditions. Additionally, promoting stable housing reduces stress and supports overall well-being, contributing to the broader objectives of SDG 3.

02.04.01 My project contributes to the Quality education goal

5

02.04.02 Quality education - Justification

Residence Proptech contributes to the goal of Quality Education by facilitating access to information and resources related to real estate investment and management. Through our platform, users can access educational content on property valuation, management practices, legal considerations, and market trends. This educational component empowers property buyers, sellers, and agents with knowledge essential for making informed decisions in the real estate sector. By promoting lifelong learning opportunities and equitable access to real estate information, Residence Proptech supports the broader objectives of SDG 4.

02.05.01 My project contributes to the Gender equality goal

4

02.05.02 Gender equality - Justification

02.06.01 My project contributes to the Clean water and sanitation goal

1 - Strongly Disagree

02.06.02 Clean water and sanitation - Justification

02.07.01 My project contributes to the Affordable and clean energy goal

4

02.07.02 Affordable and clean energy - Justification

02.08.01 My project contributes to the Decent work and economic growth

7 - Strongly Agree

02.08.02 Decent work and economic growth - Justification

Residence Proptech significantly contributes to the goal of Decent Work and Economic Growth by fostering a transparent and efficient real estate marketplace that promotes economic activity and job creation. By connecting verified agents with buyers and sellers, the platform facilitates property transactions that stimulate economic growth. Additionally, services such as property management, valuation, and verification create employment opportunities within the real estate sector. Our platform supports inclusive and sustainable economic growth by ensuring fair practices and creating a professional environment that benefits all stakeholders involved.

02.09.01 My project contributes to the Industry innovation and infrastructure

7 - Strongly Agree

02.09.02 Industry innovation and infrastructure - Justification

Residence Proptech contributes to the goal of Industry Innovation and Infrastructure by creating a cutting-edge digital platform that enhances transparency, efficiency, and trust in real estate transactions. By leveraging advanced technologies and integrating third-party services for verification and fraud prevention, we foster innovation within the real estate sector. Our platform promotes sustainable industrialization by supporting scalable and resilient infrastructure that benefits agents, buyers, and sellers. Through continuous innovation, Residence Proptech enhances the real estate industry's infrastructure, driving inclusive and sustainable growth.

02.10.01 My project contributes to the Reduced inequalities goal

6

02.10.02 Reduced inequalities - Justification

Residence Proptech contributes to the goal of Reduced Inequalities by providing a transparent and accessible platform for real estate transactions. By ensuring that only verified agents and agencies can list properties, we promote fairness and trust in the market, reducing opportunities for exploitation. Our platform empowers all users, regardless of their background, to access high-quality real estate services and information. Additionally, by offering educational resources and support, we help level the playing field, allowing more individuals and businesses to participate in the real estate market effectively and equitably.

02.11.01 My project contributes to the Sustainable cities and communities goal

7 - Strongly Agree

02.11.02 Sustainable cities and communities - Justification

Residence Proptech strongly contributes to the goal of Sustainable Cities and Communities by promoting transparent, efficient, and ethical real estate transactions that foster trust and security within urban environments. Our platform ensures that all listed properties are verified for quality and compliance with safety standards, contributing to safer and more resilient communities. By encouraging sustainable property management practices and highlighting eco-friendly buildings, we support environmental sustainability within cities. Additionally, by providing accessible real estate services to a diverse user base, Residence Proptech promotes inclusivity and equitable access to housing opportunities, thus supporting the broader objectives of SDG 11.

02.12.01 My project contributes to the Responsible consumption and production goal

5

02.12.02 Responsible consumption and production - Justification

Residence Proptech contributes to the goal of Responsible Consumption and Production by promoting sustainable and efficient real estate practices. Our platform encourages the listing of properties that adhere to environmentally friendly standards and sustainable construction practices. We provide resources and information on energy-efficient and eco-friendly buildings, fostering awareness and adoption of sustainable living practices. By facilitating transparent transactions and reducing fraudulent activities, we promote ethical consumption and production patterns within the real estate market. While our primary focus is on real estate services, our commitment to sustainability indirectly supports responsible consumption and production.

02.13.01 My project contributes to the Climate action goal

5

02.13.02 Climate action - Justification

Residence Proptech contributes to the goal of Climate Action by promoting eco-friendly and sustainable real estate practices. Our platform encourages the listing of properties that adhere to green building standards and energy-efficient designs, thereby reducing the carbon footprint associated with real estate. We provide information and resources on sustainable property management and environmentally conscious living, helping to raise awareness and drive action towards combating climate change. While our primary focus is on facilitating real estate transactions, our commitment to promoting sustainability within the industry supports broader climate action efforts.

02.14.01 My project contributes to the Life below water goal

1 - Strongly Disagree

02.14.02 Life below water - Justification

02.15.01 My project contributes to the Life on land goal

5

02.15.02 Life on land - Justification

Residence Proptech contributes to the goal of Life on Land by promoting sustainable land use and encouraging eco-friendly real estate practices. Our platform highlights properties that adhere to sustainable building practices and land management, reducing the environmental impact of development. By providing information on sustainable property management and supporting green building certifications, we help foster awareness and adoption of practices that protect terrestrial ecosystems. While our primary focus is on real estate transactions, our commitment to promoting sustainability within the industry supports the broader goals of conserving and restoring terrestrial ecosystems.

02.16.01 My project contributes to the Peace justice and strong institutions goal

6

02.16.02 Peace justice and strong institutions - Justification

Residence Proptech contributes to the goal of Peace, Justice, and Strong Institutions by promoting transparency, accountability, and inclusivity within the real estate sector. Our platform ensures that all listed properties and agents are verified, reducing the risk of fraud and unethical practices. By providing a secure and transparent marketplace for real estate transactions, we enhance trust and integrity in the industry. Additionally, our services, such as property verification and escrow, ensure that all transactions are fair and just, providing access to reliable real estate services for all users. These efforts contribute to building a more accountable and inclusive real estate sector, aligning with the broader goals of sustainable development.

02.17.01 My project contributes to the Partnerships for the goal

6

02.17.02 Partnerships for the goal - Justification

Residence Proptech contributes to the goal of Partnerships for the Goals by fostering collaborations with various stakeholders in the real estate industry, including agents, agencies, financial institutions, and regulatory bodies. By partnering with identity verification services, escrow companies, and property management firms, we enhance the overall efficiency and trustworthiness of the real estate market. These partnerships not only improve our service offerings but also contribute to the broader goals of sustainable development by promoting responsible business practices and ensuring that our platform is inclusive and accessible to all. Our collaborative approach strengthens the means of implementation and supports the revitalization of sustainable development partnerships within the real estate sector.

05.01 There are a large number of customers who already use a product/service very similar to the product/service we envision creating.

4

05.02 The product/service we envision creating represents an entirely new type of product/service.

3

05.03 The product/service we envision creating could be described as a new technology.

4

05.04 The product/service we envision creating is an improvement on an existing product or service.

1 - Strongly Disagree

05.05 The product/service we envision creating could be described as an extension of a range of products or services.

1 - Strongly Disagree

05.06 The product/service we envision creating responds to a demand or need that has not been satisfied by other products/services.

3

05.07 The product/service we envision creating is a new version of an old product/service.

1 - Strongly Disagree

05.08 Justification

Residence Proptech represents a groundbreaking innovation within Nigeria's property technology sector, poised to revolutionize the industry with its pioneering features and distinctive approach. By introducing a wealth of innovative solutions, Residence Proptech seeks to redefine the landscape of real estate technology in Nigeria.

05.09 Who are your main potential competitors and what makes you stand out from them?

Residence Proptech's main potential competitors include established real estate listing platforms and property technology companies operating in Nigeria. These competitors typically offer basic property listing services and may have varying degrees of integration for property management and transaction facilitation. What sets Residence Proptech apart is its comprehensive suite of out-of-the-box features designed specifically for the Nigerian market. Unlike existing platforms, Residence Proptech integrates advanced verification processes for agents and properties, ensuring trust and credibility in every transaction. Our platform not only facilitates seamless property listings and searches but also offers integrated services such as property management, valuation, and escrow services, all under one roof. Moreover, Residence Proptech aim to stand out with its commitment to enhancing user experience through intuitive design and user-friendly interfaces.

10.06 Are you initiating actions within your community to promote the role of female entrepreneurs?

No, I have not yet initiated actions focused on promoting the role of female entrepreneurs in my community.