Toor’s smart lockbox is an ambitious product looking to disrupt the traditional house-hunting process. Initially made for real estate tours, Junior Desinor’s product allows property access via a mobile app. He secured a deal with Kevin O’Leary and Barbara Corcoran on Shark Tank, which sadly didn’t close. As of 2022, Toor is worth an estimated $500,000.
About the Founder
Junior Desinor was raised by struggling Haitian immigrants in Dallas, Texas. Despite this, he started his first business at age 18 and purchased his first property not long after. Then, he went to Texas Tech University, where he was president of the real estate organization.
In 2008, he got his real estate license and became one of the youngest agents in his home state. He worked at Keller Williams Realty, Inc. for more than two years.
He founded his own real estate firm in 2011, Level Properties, which is still operational today. With the brokerage, Junior did over $100 million in property sales in 2013.
After 14 years in the industry, Desinor recognized the current process was slow and cumbersome. If a potential buyer sees a house for sale, they would need an agent for the keys and a tour. Getting an appointment often takes up a lot of time.
To tackle this problem, the Texas native built a smart lockbox that can secure keys in front of an available property. It comes with an app that brokers can use to allow or deny access to a property.
Toor was established in 2016, targeting entire real estate brokerages instead of individual agents. After launching a Kickstarter campaign, the company made $100,412 in pre-sales.
Shark Tank Appearance
Toor appeared on season 8 of Shark Tank, asking for $500,000 in return for 10% equity. A huge $5 million valuation for a brand new company with no sales outside of Kickstarter and a bad valuation is Kevin’s pet peeve!
The founder got Barbara Corcoran to help out with the demonstration. It’s safe to say, Barbara was a big fan of Junior and thought he was a great salesman. On other hand, Chris Sacca believed the product wasn’t unique enough.
Junior kept his composure despite witnessing a fight break out among the Sharks. In the end, Kevin and Barbara teamed up, and they agreed on a deal for $200,000 cash and a $300,000 loan for 10% equity. Barbara and Kevin were betting the company would later get acquired by a large real estate firm.
After Shark Tank
Toor had one of the most interesting episodes on Shark Tank. However, after the show aired, the founder chose to pass up on the deal. Despite pulling out, Junior revealed he remains in contact with Barbara.
Toor is still in business but the company has gone quiet on social media and its Kickstarter page hasn’t been updated since January 2018. The pre-ordered lockboxes were shipped out in the same year but no new updates were shared.
The product was sold on Toor.Today and Amazon, where it has an average rating of 2 stars from 17 buyers. Currently, the product is out of stock on their website. It appears the company wasn’t able to penetrate the market as the real estate sector is controlled by a handful of large brokerages. Toor is now valued at an estimated $500,000.
According to Sharktankrecap.com, Junior co-founded a CBD business called City Naturals in 2019. He runs the CBD oil business with his wife and they have a store in Dallas, Texas.