In our latest real estate tech entrepreneur interview, we’re speaking with co-founder and CEO of UK-based Settled, Gemma Young.
Without further ado…
What do you do?
I am the CEO and Co-Founder of VC-backed property technology business Settled, which is an online property transaction software that streamlines the home buying and selling process for buyers and sellers.
What problem does your product/service solve?
In spite of prop tech’s growth – we’d all agree that there’s still a long way to go. In the UK, it still takes on average 16 weeks to complete on a property after an offer is made, and 1 in 3 times the transaction breaks. This causes so much stress for home buyers and sellers alike, and actually costs consumers over £250 million a year in wasted fees.
Our platform has already cut the time it takes to transact and complete in half and we’ve dramatically reduced fall through rates. We’re committed to continually improving and fixing the broken elements in a real estate transaction so that buyers and sellers can feel more ‘Settled’.
What are you most excited about right now?
The future! Since our launch in 2016, we’ve already saved customers £6m in estate agency fees and have worked hard to develop a product which gives customers the assurance that their home sale or purchase will happen the way they want it to. Looking ahead, we’ll focus on further streamlining our services, ensuring that every aspect of the Settled customer experience is secure, simple and joyful.
The world is also moving with us – the Government’s efforts to modernise the buying and selling process (through its recently launched call for evidence), and the wider regulatory developments which are taking place mean a new era of property technology is emerging.
What’s next for you?
Continuous innovation – we’re focused on a product and service that will allow consumers to buy and sell a home fully online, without any hassle and at a low cost.
What’s a cause you’re passionate about and why?
I’m part of a diversity group which looks at the differences across segments of society and aims to progress towards a better and more balanced future working environment. Gender obviously comes into diversity a lot and I’m really passionate about avoiding divisions; it’s sadly pretty common for men and women to feel they’re on different sides. I believe, as a society, we should look deeply into the systemic reasons why we make judgements and how we can better understand our prejudices.
Thanks to Gemma for sharing her story. If you’d like to connect, find her on LinkedIn here.
We’re constantly looking for great real estate tech entrepreneurs to feature. If that’s you, please read this post — then drop me a line (drew @ geekestatelabs dot com).