Revive, a presale home renovation proptech for sellers and buyers, today announced rebranding to Revive Real Estate and launching its new domain, revive.realestate. The aim is to enable firms like Revive Real Estate to market its branding under a widely understood umbrella term like “real estate” as its description, according to a press release.
The company is one of the nine proptech firms in the 2022 National Association of Realtors (NAR) U.S. REACH program. The previous .realestate domain was launched by NAR in 2018 for their members, while the newly launched domain will be independent of NAR affiliation.
“Very few proptech firms, if any, can say that their domain is only their name. It gives our business instant recognition and elevates our marketing,” said Michael Alladawi, CEO and founder of Revive Real Estate.
Revive aims to offer its services to homeowners, and claims to incentivize the renovation of their homes before selling with profit maximization. The proptech highlighted this in a report that found sellers lose 15% to 20% of their profit margin if they do not renovate their homes before sale.
Alladawi says the average profits earned by Revive sellers is on average $186,000 more than renovation costs.
The report further suggests more than 8% of American homes in February 2022 were $1 million or more, and that if one in ten of these home sellers choose to renovate their house before selling it, they may earn more in additional profits.
“Every year, some five million to six million existing-home sales occur. If just 5% of these homes chose a presale renovation, sellers could increase by $56 billion,” stated Dalip Jaggi, co-founder of Revive Real Estate, in the release.
In other recent proptech news, Zesty.ai announced raising $33 million to expand its climate risk assessments to new industries. WeWork also announced the official debut of its new space management solution, WeWork Workplace, in partnership with Yardi.