Revive, a presale home renovation solution for sellers and cash-backed offer programs for buyers, has announced the enhancement of its brand, becoming Revive Real Estate, and changes its top-level domain to revive.realestate.
“By officially becoming Revive Real Estate, we boost the clarity of our brand and can amplify it with a hot top-level web domain extension,” said Michael Alladawi, Revive Real Estate CEO and founder. “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,” he added.
Created by the National Association of REALTORS® and launched in 2018 alongside .realtor for members of NAR, the .realestate domain is free of restrictions from NAR affiliation. It allows firms like Revive Real Estate to creatively market its brand by leveraging “real estate” as a descriptive and universally understood term, they said.
“Securing .realestate is a fantastic fit for Revive to better connect with brokers and their agents, as well as home sellers, buyers and others who are part of the presale renovation ecosystem,” said Colleen Doyle, vice president, RIN and Strategic Initiatives at NAR. “This top-level domain helps firms like Revive own their segment in our industry, setting them apart from their competition,” she added.
Revive is one of nine Proptech firms in the 2022 NAR US REACH program, operated by Second Century Ventures, the strategic investment arm of the National Association of REALTORS® and the most active global real estate technology fund, according to a release.
Revive offers presale renovation services for homeowners to help maximize their profits from their home sales. When homeowners renovate their homes before selling, they maximize their return on their most significant asset—their home. Revive research shows that sellers leave 15% to 20% of potential profits on the table if they sell their homes “as is.”
Alladawi notes that presale renovation is a burgeoning new industry, offering a new tool that more agents and sellers need to know about.
“Revive sellers average $186,000 more than the costs of the renovation, and substantially more in higher-cost markets,” Alladawi explained. “The more we spread the word—and our new enhanced brand will help—the more wealth we can help create for homeowners when they sell their homes,” he added.
According to Revive research, a little more than 8% of all homes in the U.S. as of February 2022 were worth at least $1 million. If just one in 10 sellers of homes worth $1 million or more chose a presale renovation, sellers would net tens of billions of dollars in additional sale proceeds.
“The potential of additional annual wealth creation is staggering,” said Revive Real Estate cofounder Dalip Jaggi, noting, “Every year, some 5 million to 6 million existing-home sales occur. If just 5% of these homes chose a presale renovation, sellers could increase by $56 billion.”