Junior Desinor wants to change the way people look for real estate with Toor, his smart lockbox that lets buyers, sellers, and agents efficiently schedule home tours, in Shark Tank episode 809. Traditionally, realtors controlled the homebuying process. Toor seeks to level the playing field by creating an interface between its smart lockbox and accompanying app.
Through the app, buyers can schedule home showings without a realtor present. If a seller requires a realtor's presence, the technology provides online, on demand scheduling. Since all users must register when getting the app, sellers know who's been in their home, when they were there, and how long they stayed. Sellers and realtors can also set specific showing times, eliminating unplanned showings.
The Toor app is great for realtors, too. It merges all local MLS listings, thus eliminating the need for multiple apps. Using the technology is proven to increase showings – a good marketing tool when realtors are soliciting listings. Desinor, a veteran real estate agent, got the business started when he raised $100,412 on Kickstarter in May, 2016. He pledges to make the lockboxes in the USA. He's finalized the design, but still hasn't produced any boxes.
He likely wants a Shark to help fund production and help make connections in the real estate industry. Will a Shark lock in to this business?
Toor Shark Tank Recap
Junior will pitch the panel of five Sharks on the business and its prospects for growth. He’ll need to convince Mark Cuban, Daymond John, Kevin O’Leary, Lori Grenier, and Chris Sacca that the company is worthy of a Shark investment. A good business plan, good financials, and sales data will impress the Sharks, but he’ll need to show them HE is capable of running the company to “Shark standards." A full pitch re-cap on Toor will be available on Shark Tank Blog once this episode airs.
Toor Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. Once an episode has aired, we monitor the progress of the businesses featured, whether they receive funding or not and report on their progress. The Shark Tank Blog will follow-up on Toor and Junior Desinor as more details become available.