Real Estate Agents & Managers (For Others)IFRS · EUR

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.

Liikevaihto1 968milj. EUR
+55,7 %v/v
Liikevoitto (EBIT)−9,2milj. EUR
+63,3 %v/v
EBIT-marginaali−0,5%
+1,5 %-yks.v/v
Nettotulos−8,1milj. EUR
+69,5 %v/v
Vapaa kassavirta64,8milj. EUR
+35,9 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

−50005001 0001 5002 000milj. EUR2020202120222023: 689 milj. EUR2023: EBIT −26 milj. EUR20232024: 1 265 milj. EUR2024: EBIT −25 milj. EUR20242025: 1 968 milj. EUR2025: EBIT −9,2 milj. EUR20251 968−9,2
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
Residential brokerage80 %

Licensed real estate brokerage services that generate commission revenue from completed transactions.

Mortgage brokerage8 %

Mortgage origination and brokerage services that complement home purchases on the platform.

Title and escrow7 %

Closing-related services provided through One Real Title and related joint ventures.

Financial technology and lending5 %

Technology-enabled financial products and lending-related services for agents and consumers.

Tuotteet

Raportoitu · osuus liikevaihdosta
99,4%FY2025100 %
  • Commissions99,4 %
  • Mortgage Broker Income0,3 %
  • Title0,3 %

Lähde: 40-F FY2025, yhtiön tuotelinjoittain raportoima liikevaihto (SEC XBRL). Osuudet on laskettu näytetyistä riveistä ja ne summautuvat 100 %:iin.

Asiakkaat

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.

Residential real estate agents

Agents buy brokerage affiliation, transaction support, revenue share, and digital tools to run their business.

Agent teams

Teams use the platform for collaboration, compliance, and scalable transaction management.

Homebuyers

Buy mortgage, title, escrow, and closing services through affiliated agents during purchase transactions.

Home sellers

Use agent-led brokerage services to list and close residential property sales.

Consumers seeking closing services

Buy title and escrow services bundled into the residential transaction process.

Strategia

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.

Agent acquisition and retentionLyhyt aikaväli

The brokerage model depends on attracting productive agents and keeping them active on the platform.

Technology-enabled productivityKeskipitkä aikaväli

Centralized digital tools support scalable operations and reduce reliance on branch offices.

Ancillary service expansionKeskipitkä aikaväli

Mortgage, title, escrow, and lending services increase revenue per transaction and improve platform stickiness.

Maantiede

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.

Riskit

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.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Residential housing market cyclicality1Agent attrition and recruitment pressure2Regulatory and licensing compliance3Technology and cybersecurity risk4Ancillary service execution risk5
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Residential housing market cyclicalityVaikutus: KorkeaTodennäköisyys: Korkea

    Commission revenue depends on the number and value of completed home transactions.

    Kohdistuu: Core brokerage revenue

  2. Agent attrition and recruitment pressureVaikutus: KorkeaTodennäköisyys: Korkea

    The platform relies on affiliated agents; losses in agents can reduce transaction volume and network effects.

    Kohdistuu: Brokerage platform economics

  3. Regulatory and licensing complianceVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Real operates across multiple U.S. states and Canadian provinces with different brokerage and closing requirements.

    Kohdistuu: Multi-jurisdiction operations

  4. Technology and cybersecurity riskVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    The operating model depends on proprietary software for transactions, compliance, and agent support.

    KohdistuuReZENLeo CoPilotDigital brokerage
  5. Ancillary service execution riskVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Mortgage, title, and escrow lines require operational coordination and integration with brokerage activity.

    KohdistuuOne Real TitleLending products

Kirjanpito

Harkinnanvaraiset erät
Commission revenue recognition

Revenue is tied to real estate transaction completion, so closing dates affect quarterly results.

Vaikutus: Period-to-period revenue volatility

Goodwill impairment

Acquisitions and platform growth can create goodwill that must be tested for impairment.

Vaikutus: Potential non-cash charges

Litigation and contingent liabilities

The company discloses judgments around litigation costs that may require accruals or disclosures.

Vaikutus: Earnings and balance sheet reserves

Business combination accounting

Acquisitions require fair value measurement and purchase accounting estimates.

Vaikutus: Intangible assets, goodwill, and future amortization

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

Päivitetty: 28.9.2026

Real Brokerage Inc – Real Estate Agents & Managers (For Other | Analyysi – Clarifo