Sep 8, 2021

Torii - Streamlining The Home Buying Process

Automating real estate buying processes for a digitised future
S Lakshmi
S LakshmiSenior Account Manager

Purchasing a “Dream Home” is one of those life accomplishments that tops nearly everyone’s bucket list. Whether you prefer a modernized urban loft or a sprawling suburban home with a white picket fence, most of us hope to find a home that feels like it was made specifically for our family. However, searching for your dream home comes with a different set of challenges compared to any other real estate purchase. Since the goal is to look for a long term accommodation, you’ll want to look for a property that will keep you and your family happy and safe for the foreseeable future.

Homebuying is often a tedious and painful process, whether it is haggling with realtors, struggling to get a mortgage or visiting the property physically to check out the amenities and neighbourhood. Luckily, technology has entered our homes to revolutionise our lives and we have welcomed it with open arms and a smile. From fashion to food, every industry has benefited from the convenience of technology, and real estate is no exception. Torii is a real estate app which aims to streamline home buying processes by offering a full-service suite for homebuyers; from discovering your perfect home to scheduling a showing and making an offer, Torii holds your hand the entire way as your companion during your search for the perfect home.

Origin Stories:

"My dog threw up in my car and I got lost." This is what James (Torii's CEO) heard over the phone as he waited for his real estate agent at a house showing they had scheduled earlier that week. The agent never showed up, so James decided to handle the deal alone and submit an offer for the property. The offer was accepted but he was unable to close the deal on time due to issues caused by the vendors who were involved in the purchase. Torii was born as the result of this incident which triggered a desire in the visionary to improve the process of buying homes and make it truly effortless.

When you buy a home with Torii, you receive an agent, attorney, appraisal and  title insurance all in one place and absolutely free of charge. The entire transaction is done through the application wherein you can search for properties, manage showings, make an offer and track your progress every step of the way making it the easiest way to buy a home. Most of the tedious and time-consuming aspects of the home buying process have been automated by Torii just so that users can focus on the things that really matter.

Why Homebuyers love Torii

Torii, the Boston-based startup, which targets millennials aims to transform an industry that has been somewhat left behind in the tech space. The company has developed an easy-to-use and efficient way to search for homes where buyers can swipe through and save properties that match their personalized parameters, much like,Tinder, Bumble and other popular dating apps. It also offers high-touch services such as a personalized “Move-In Survival Kit” (toiletries, cleaners, etc.) to ease the process of moving in.

Every listing on Torii has photos, MLS (multiple listing service) data as well as neighbourhood comparisons and zip code analytics to make information as accessible as possible. If users find a home that fits their needs, they can schedule a showing or submit an offer using algorithmic data provided by the app which ensures that they have an edge in the current real estate market. From this point onwards, users can track the progress of the ongoing deal and receive updates of their desired home all through the app.The application is currently operational in the Greater Boston Area, San Francisco Bay Area and Los Angeles.

Torii Accomplishments

  • Torii successfully raised a $1.4 million pre-seed round in 2019 with an investment of $1.1 million from Calacanis’ launch and $310,000 in private equity from the founders’ friends and family.
  • Torii has closed on $3.2 million in seed funding in the first half of 2021.The funding includes $1 million from Lookout founder Kevin Mahaffey’s SNR.VC, $1 million from crypto hedge fund founder Dan Matuszewski’s CMS Holdings, 1 million from investor Jason Calacanis’ launch and approximately $200k from smaller accredited investors.
  • Torii has around 80+ Google reviews with a 5 star rating.

We are confident that Torii will soon flourish by expanding its business in various regions across the USA.

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