News that home-building giant Lennar Corp. has differentiated itself by securing the exclusive use of PropTech REEVO comes with mixed signals. According to the reports, Lennar intends to leverage the power of REEVO to create and monetize a new kind of value-added community – new age community of sales lead generator. And while the concept shows amazing potential, some bad PR and marketing signals detract from the story.
The REEVO Platform was unveiled at the Mipim PropTech in New York last year. This year, the move by Lennar is billed as part of a new strategy to attract foreign investors through the unique lead generation model the REEVO Platform represents. The long and short of REEVO’s Platform is all about the potential of aggregating real estate services and allowing everyone on Earth (potentially) to generate leads and win a profit. However, digging deeper into digital awareness and the substantive downloads of REEVO’s apps, I smell some hyperbole or marketing fluffiness floating around on this one.
Lennar. established way back in 1952, is now the largest homebuilder in the Western Hemisphere. Now, the move to incorporate the power of REEVO-like innovation into snagging international leads promises an interesting market shakeup worldwide – if in fact, Lennar can figure out how to boost REEVO downloads.
Developed by Jorge Próspero dos Santos starting back in 2015, REEVO is said to have headquarters in Houston, Texas, and branches in Europe, with expansion taking place rapidly worldwide. But the company seems to still be operating off one undisclosed seed round for parent Dynamic Referral System. So, the expansive network the Lennar announcement alludes to looks like all vapor to me, even though the nuts and bolts of the platform show a great deal of meticulous effort looking at it from the outside.
According to the literature out there, the way the new partnership will work is that verified customer services will be sold at commissions by anyone joining the system as a partner. REEVO works with Lennar home services to more or less gamify the real estate services sector. At least this is the narrative.
For me, the fact the REEVO team skips two months posting to Facebook hints that DRS is developing a tool that needs more community. 185 likes is just not a testimony to any PropTech entity aiming to do business in the digital world. 5 ratings on their REEVO App on Google Play tells me the Lennar announcement could be PR fluff, as well.
What will save REEVO and this news from Lennar is the home-building company creating a network of lead providers selling their guaranteed services worldwide. On this prospect, I have to rate this exclusive deal a “we’ll see” proposition. Feel free to contact me Lennar PR team.
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