Real Brokerage Inc. ( (REAX) ) has released its Q3 earnings. Here is a breakdown of the information Real Brokerage Inc. presented to its investors.
Real Brokerage Inc. is a technology-driven real estate platform that offers innovative solutions for agents, homebuyers, and sellers across the United States and Canada. With a focus on merging real estate transactions with cutting-edge technology, Real aims to enhance the real estate experience for all parties involved.
In its earnings report for the third quarter of 2024, Real Brokerage Inc. showcased impressive financial performance and strategic advancements despite market challenges. The company highlighted the launch of new fintech and AI-driven products that aim to streamline real estate transactions and improve agent-client interactions.
Real reported a substantial increase in the total value of completed real estate transactions, reaching $14.4 billion, a 78% rise compared to the same quarter in 2023. The number of transactions closed also surged by 76%, and the platform’s agent count grew by 79%. Financially, the company experienced a 74% increase in revenue to $372.5 million, with gross profit climbing to $32.1 million. The net loss narrowed to $2.6 million, reflecting improved cost management and strategic investments.
The company launched Real Wallet, a fintech product for agents that offers instant earnings access and financial insights, and introduced Leo AI for enhanced client-agent communication. These innovations underscore Real’s commitment to technological leadership and its strategy to empower agents with world-class tools.
Looking ahead, Real Brokerage Inc. remains focused on executing its growth strategy, enhancing agent services, and leveraging technological advancements to drive further success in 2025. The company is poised to continue its momentum with strategic investments and product innovations designed to meet evolving market needs.
