Revestor Real Estate Search Engine
NO DEAL
EPISODE SUMMARY
🕓 Air Date: November 9, 2012
Asking For:
$250,000 for 10%
Investor:
No Deal
Deal:
No Deal
PRODUCT SUMMARY
Revestor is a real estate search engine that provides access to crucial information and indicators for investors and home buyers.
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Background Story
Revestor, pitched by Bill Lyons on Shark Tank, aimed to revolutionize real estate search with its innovative platform. Bill, with prior experience in building a $20 million financial services company, identified the need for accessible real estate data after experiencing financial setbacks during the 2007 market crash. This setback inspired him to create a tool that would empower buyers and investors with vital information to make informed decisions in the real estate market.
The Product
Revestor operates as a comprehensive real estate search engine, offering users access to key indicators associated with properties, such as cash flow, cap rate, and return on investment. Unlike traditional spreadsheet-based analysis, Revestor provides intuitive map and list views, simplifying the search process for users.
The platform aggregates data from major listing distributors like ListHub and Point2, offering insights into potential investment opportunities. Revestor targets both first-time home buyers and seasoned investors, aiming to provide them with the information needed to navigate the real estate market effectively.
The subscription-based model offers access to MLS and foreclosure auction data, with plans starting at $99 per month.
How It Went
The company’s position before Shark Tank
At the time of the pitch, Revestor was operational in ten cities, with its revenue model yet to be fully rolled out. Bill envisioned Revestor as a major player in the real estate industry, aiming for $100 million in revenue and positioning the company as a billion-dollar entity. Despite Bill’s previous success in building a multimillion-dollar financial services company, the Sharks raised concerns about Revestor’s viability and market positioning.
The Negotiations:
Despite Bill’s confident pitch, none of the Sharks made an offer. Mark Cuban expressed skepticism about the business model, questioning the value proposition for customers. Kevin O’Leary raised doubts about Revestor’s ability to predict market trends effectively. Ultimately, the Sharks passed on the opportunity, citing concerns about the company’s concept, presentation, and market positioning. Despite the setback, Bill remained determined to pursue his vision for Revestor.
