Real Brokerage Inc
Real Brokerage Inc is a North American real estate technology and brokerage company that provides licensed residential real estate services through a fully digital platform. It combines agent-facing brokerage operations with ancillary mortgage, title and escrow, and fintech/lending offerings across the United States and Canada.
Fiscal year 2025 · change from previous year
Development 2020–2025
Business
Share of revenueLicensed real estate brokerage services that generate commission revenue from completed transactions.
Mortgage origination and brokerage services that complement home purchases on the platform.
Closing-related services provided through One Real Title and related joint ventures.
Technology-enabled financial products and lending-related services for agents and consumers.
Products
Reported · share of revenue- Commissions99.4 %
- Mortgage Broker Income0.3 %
- Title0.3 %
Source: 40-F FY2025, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.
Customers
Real serves real estate agents and teams who use its digital brokerage platform to transact residential property sales and manage their businesses. Its end customers also include homebuyers and sellers who access transaction, mortgage, title, escrow, and closing services through affiliated agents. The platform model is designed to attract independent agents seeking flexibility, centralized tools, and revenue-sharing economics.
Agents buy brokerage affiliation, transaction support, revenue share, and digital tools to run their business.
Teams use the platform for collaboration, compliance, and scalable transaction management.
Buy mortgage, title, escrow, and closing services through affiliated agents during purchase transactions.
Use agent-led brokerage services to list and close residential property sales.
Buy title and escrow services bundled into the residential transaction process.
Strategy
Real's strategy centers on scaling a software-based brokerage model that reduces dependence on physical offices and supports a distributed agent network. It also expands ancillary services such as mortgage, title, escrow, and fintech products to deepen transaction capture and improve the economics of each home sale.
The brokerage model depends on attracting productive agents and keeping them active on the platform.
Centralized digital tools support scalable operations and reduce reliance on branch offices.
Mortgage, title, escrow, and lending services increase revenue per transaction and improve platform stickiness.
Geography
Real operates across all 50 U.S. states, the District of Columbia, and five Canadian provinces, with title and escrow services available in a subset of U.S. states. Its business is therefore geographically diversified, but still tied to local real estate markets and state-by-state licensing and closing rules.
Risks
Real's results depend on residential transaction volumes, agent productivity, and the ability to keep agents engaged on a competitive, commission-based platform. Its ancillary services and multi-jurisdiction footprint add regulatory, execution, and integration complexity, while technology reliance creates cybersecurity and systems risks.
- Residential housing market cyclicalityImpact: HighLikelihood: High
Commission revenue depends on the number and value of completed home transactions.
Exposure: Core brokerage revenue
- Agent attrition and recruitment pressureImpact: HighLikelihood: High
The platform relies on affiliated agents; losses in agents can reduce transaction volume and network effects.
Exposure: Brokerage platform economics
- Regulatory and licensing complianceImpact: HighLikelihood: Medium
Real operates across multiple U.S. states and Canadian provinces with different brokerage and closing requirements.
Exposure: Multi-jurisdiction operations
- Technology and cybersecurity riskImpact: MediumLikelihood: Medium
The operating model depends on proprietary software for transactions, compliance, and agent support.
Exposure - Ancillary service execution riskImpact: MediumLikelihood: Medium
Mortgage, title, and escrow lines require operational coordination and integration with brokerage activity.
Exposure
Accounting
Judgemental itemsRevenue is tied to real estate transaction completion, so closing dates affect quarterly results.
Impact: Period-to-period revenue volatility
Acquisitions and platform growth can create goodwill that must be tested for impairment.
Impact: Potential non-cash charges
The company discloses judgments around litigation costs that may require accruals or disclosures.
Impact: Earnings and balance sheet reserves
Acquisitions require fair value measurement and purchase accounting estimates.
Impact: Intangible assets, goodwill, and future amortization
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Last updated: 28/09/2026