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HomeFounderTalkKnow your customer and prioritize customer-centricity

Know your customer and prioritize customer-centricity

Realoq marketplace and technology platform that effortlessly bridges the gap between B2C and B2B

Please introduce yourself and your startup Realoq to our readers?

Hello, I’m Anvesh Chakravartula, the founder and CEO of Realoq. Founded in 2023, Realoq is a multi-sided marketplace and unified technology platform that effortlessly bridges the gap between B2C (buyers and sellers) and B2B (real estate agents and mortgage brokers/lenders).

The Realoq marketplace platform seamlessly integrates four essential features: Listings, Buy, Sell, and Mortgage. We are driven by a customer-centric approach that underpins our commitment to revolutionize the real estate ecosystem. At Realoq, we are dedicated to pioneering innovation in the real estate industry, with a resolute focus on enhancing and empowering the experiences of homebuyers, sellers, and service providers through our unified, collaborative, and transparent platform, products, and services.

Why did you decide to start a business?

Since my formative years, I have harbored a passion for the real estate industry, coupled with an unwavering drive to innovate, problem-solve, and effect positive change. As I matured, it became evident that each facet of the real estate transaction process operated in a fragmented and disjointed manner, lacking uniformity and a centralized approach. It was this recognition that ignited my vision to establish a unified technology platform for the real estate sector – one that seamlessly integrates all components under one roof. This vision led to the creation of Realoq.

What is the vision behind Realoq?

The vision behind Realoq is to pioneer the way in developing a comprehensive, technology-driven multi-sided marketplace. Our aim is to simplify and elevate every facet of the real estate buying and selling experience for all our customers.

From the idea to the start, what have been the biggest challenges so far and how did you finance yourself?

Drawing on my professional background in technology, and experience as a seasoned real estate investor, I have seen the gaps in the current real estate market and transaction process model (that includes buying, selling, and working with real estate agents and mortgage lenders). As a result of my analysis and a foresight on the market trends, I identified the opportunity for a multi-sided marketplace and this made me decide to start Realoq that connects B2C and B2B customers.

Starting a new company is definitely exciting yet challenging. As a startup founder, I face a lot of difficulties and need to take up and resolve daunting tasks. The first challenge being market validation where I need to determine the product market fit and ensure a genuine demand for my product and services. The next most important step in this journey is securing funding – reaching out to potential investors and managing cash flow. 

Then the utmost crucial step is to bring the vision to life by devising a solid business plan, building the right team, technology planning, implementation and execution. With this comes the regulations and compliance that we need to follow and adhere to.

And I’m a father of two, so balancing my personal life with the demands of running a startup is sometimes challenging but my family has been extremely supportive and I am thankful and grateful to them.

These arduous times are part of any entrepreneurial journey and overcoming them step by step, with hard work, willpower, and determination helped us reach the milestones and achieve the broader goal.

Who is your target audience?

The target audience in the B2C category include home buyers and sellers, mortgage shoppers and real estate investors. In the B2B category it includes real estate agents and brokers, as well as mortgage lenders. Considering the scope, the plan is to include the commercial and rental property market.

How does Realoq work? What are the advantages? What makes you different from other providers?

Realoq operates as a multi-sided marketplace and unified technology platform designed to facilitate real estate transactions. Our approach is centered around connecting consumers, including homebuyers and sellers, with service providers, which can include real estate agents, mortgage brokers, and lenders. 

The advantages of our platform are multifaceted. First and foremost, we streamline the real estate transaction process, making it smoother and more efficient. By bringing together the right team of professionals and leveraging technology and process improvements, we create a collaborative environment that benefits all parties involved. 

What sets Realoq apart from other providers is our dedication to providing a unified and transparent platform. We place a strong emphasis on customer-centricity, ensuring that our users have access to a comprehensive and seamless real estate experience. This commitment to innovation and integration distinguishes us in the real estate technology landscape.

Realoq, where does the road go? Where do you see yourself in five years?

Over the next five years, my primary objective is to steer Realoq toward significant growth, while also solidifying a sustainable business model. This expansion encompasses broadening our operations, customer base, and market reach. Additionally, we intend to forge strategic partnerships, cement our position as a recognizable brand, achieve profitability, and attract and retain top talent. Furthermore, fostering a positive company culture, staying adaptable to industry trends, and emerging as a market leader are all integral aspects of our vision for the future.

What 3 tips would you give other Start-up founders on the way?

Validate your idea before scaling and maintain a clear value proposition for your product or service. Know your customer and prioritize customer-centricity. Build a strong and diverse team.

These tips are just a starting point. The entrepreneurial journey is filled with challenges and opportunities, so staying adaptable, open to learning, and committed to your vision is crucial. To be successful, you have to be a dreamer and a doer. While both qualities are important, balance is key. Too much dreaming without action can lead to unfulfilled potential, while excessive doing without a clear vision can result in aimless effort. There will certainly be times where you would need to step away from your comfort zone to get to the finish line.

Thank you Anvesh Chakravartula for the Interview

Statements of the author and the interviewee do not necessarily represent the editors and the publisher opinion again.

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