Ever tried the next generation in real estate? A tour with an agent at your own pace is all handled by an app. We present to you Toor the next generation and technological advancement in the real estate industry.
The Toor app is the real deal as of being a one-stop shop for all your real estate needs. May it be a seller, broker, or agent the app caters to all the bookings and allows you to take control of the property viewing without any hassle.
Each property may it be for sale or rent comes with a lock box to safely store the keys in. This lockbox can be accessed with the help of your smartphone. Basically, to take control of the door use Toor.
Toor at a Glance:
| Business idea | Smart lock controlled via an app that can schedule an appointment with buyer and seller, agent, or broker |
| Founders | Junior Desinor |
| Asked for | 500,000 for 10% |
| Accepted deal | 200,000 for 10% + 300,000 loan |
| Sharks | Kevin O’Leary and Barbara Corcoran |
| Business status | Out of business |
| Episode | Season 8 Episode 8 |
| Website | Toor |
Index:
Founder Story:
The product got its wings as its owner Junior Desinor became a buyer, a seller an agent, and now a broker in the real estate industry for 14 years. He thought there must be a way to make the tour a pleasant and reasonable experience for the user. The owner had come from Haiti to Texas to bring a change in his life with his parents.
He devised the idea for an app that would help him schedule appointments between the buyers and sellers and give access to the keys safely to anyone who wished to view a house at their own convenience. The app came with a smart lock that would open and the keys could be safely kept inside.
Did Toor get a deal on Shark Tank?
The pitch was a Reality check for the owner Junior who comes into the shark tank seeking an investment of $500,000 for 10%. He starts the pitch by telling his life history and asks Barbara to join him on stage. He then demonstrates the product to the sharks and answers any questions they might have.
Does the first question come from Kevin who wants to know if a person doesn’t return the key what happens? The answer is the owner of the property is notified. Lori pitches in and says she is concerned about the people who are on her property unescorted. She thinks the seller requires an agent.
Kevin is the next to question the sales. The only sales seen by this company is that in the Kickstarter campaign that sold 800 boxes of the smart lock technology and the cost for making the product is $50 while it is sold for $199. Chris is doubtful whether the product is using a new type of technology or not. Lori is the first shark to go out on the deal as she thinks it’s too early to invest. Kevin offers $100,000 for 10% and $400,000 for 18% interest. Mark on the other hand goes out as he thinks he knows nothing about the real-estate business.
Barbara says she would love to join Kevin on the deal as she would be able to introduce the product to large retailers. She would introduce the product and the Junior would have to sell it to the required companies. Finally, Chris goes out and the deal is made for $200,000 for 10% with a $300,000 line of credit.
What happened to Toor lockbox after Shark Tank?
The company has seen no online presence as of today. The company has closed itself. The products are not sold online nor do the company have a social media presence. The deal made with Kevin and Barbara never saw success for the business. There is no social presence for the business as of today. The company has closed as of today and does not sell its smart lockboxes anymore.
- The product is an innovation for the whole of the real estate industry
- The smart lock product safely keeps the keys and has a sensor technology that helps the buyer or agent to safely keep the keys
- The app has all the steps in the process covered from seeing the property to doing the full agreement with the agent/ broker
What is the Net worth of Toor?
At the time of the shark tank appearance, Toor was valued at around $2 million, but as of now, the company is out of business.
Is Toor still in business?
No Toor is dead as of today as it is out of business. The company saw itself making many sales in the start and wanted to continue on the same with the mentorship of Barbara and Kevin but it never happened.
Do Share Your Thoughts:
Do tell us all your thoughts in the comments section below, we look forward to reading all the comments in the section below.
Also, do check our Startup Resources section, and don’t forget to join our weekly newsletter 📰 which contains pure startup and business wisdom and no bullshit!!
Related Articles:
- Who are the Sharks and Guest Sharks?
- Palmini: What Happened After Shark Tank?
- Chirps: What Happened After Shark Tank?
- Boobie Bar: What Happened After Shark Tank?
- Bag Bowl: What Happened After Shark Tank?
- Pavlok: What Happened After Shark Tank?
- Roominate: What Happened after Shark Tank?
What is Toor?
The Toor app is the real deal as of being a one-stop shop for all your real estate needs. May it be a seller, broker, or agent the app caters to all the bookings and allows you to take control of the property viewing without any hassle.
Did Toor get a deal on shark tank?
Toor gets a deal with Kevin and Barbara for $200,000 for 10% with a $300,000 line of credit.