MAIN IMAGE: Robert Teboho Tsekoa, managing director and founder of Hashtags Properties Group
Kerry Dimmer
Robert Teboho Tsekoa, managing director and founder of Hashtags Properties Group, entered the property industry by default. In fact, he says, the property sector chose him rather than it being his choice. Either way, it was a great decision for someone who had developed a strong reputation for leadership during his primary and high school years, including being appointed as Head Boy at Hoërskool Voortrekker in Boksburg.
His leadership skills stood him in good stead for his career entry into private banking, where he evolved into business coaching. A later foray into insurance was equally successful, but he never quite found the ‘magic’ he was seeking. He says both these sectors were transformational BEE drivers “where there was inclusion for people of all backgrounds”, but he noted that the same could not be said of the real estate sector. This was where he felt he could play a change-maker role and be a part of the transformation story in real estate.
Why did you start your own business?
I started Hashtags Properties Group in 2016 to provide a platform for young and previously disadvantaged groups to enter the property sector. Our aim is for them to one day be empowered to own their own businesses through the Hashtag franchise model. We have some 60 franchise models and have sold more than a collective R1 billion in property stock to date.
How much transformation have you seen, and is it still a challenging environment for black property practitioners?
Whilst there has been some transformation, much more is required. People of colour currently comprise just eight percent of real estate agency owners. My feeling is that this number has to change, and this can be achieved, as I have proven, by the adoption of a franchise model, such as the one Hashtag uses, as it really has proven it has merit.
I feel the entire industry needs to deepen its transformation policies. We need more guidance and aid from the Property Practitioners Regulatory Authority, which I hope will consider a franchise model as a way to change existing structures and really open the door to transformation.
What is the hardest thing about running your own agency?
The red tape involved in reaching certain levels in real estate is frustrating and hinders the growth of many agency owners. This includes registration as a principal. Also, given that the period between selling and concluding a sale can be anything between three and six months, it is difficult to keep an agency business operational, given the costs of marketing and accessing property listing sites.
The industry needs to solve these challenges, which I suggest can be achieved with incubator and accelerator programmes.
What goals are ahead for Hashtag?
I want to grow the number of Hashtag franchises to 1,000 by 2030. Overall, the entire group will continue to be immersed in ensuring that the sector’s transformation continues, be that through aids such as grants, investments, and sponsorship, but in particular, the mentoring of real estate business owners. Importantly, as we make transformation a key objective in the sector, we must ensure its sustainability.
Who is your role model?
Dr Andrew Golding! He has turned the Pam Golding Group into a globally recognised brand. I want to do the same with Hashtags Properties Group, and following the Golding family’s lead, I would also like to see my family join the business and create a legacy organisation for generations to come.
How does your property career journey inspire others?
I am very driven to make a positive difference in real estate. I always tell my franchisees that their ownership dream is no different from mine and that we usually have to start in a different career first, like I did in banking. I do feel that in many ways I stand as an example to all people of colour, proving that it is possible to start an agency. I think though that you do need strong family support, as I do, to make dreams a reality.
I remain committed to making as big an impact in real estate as possible.
