Maxim starts reAlpha with Buy on commission-free platform

Maxim initiated coverage of reAlpha (AIRE) with a Buy rating and $3 price target reAlpha operates a commission-free, artificial intelligence-powered home buying platform in Florida, with plans to expand nationally, the analyst tells investors in a research note. The firm says revenue is generated through ancillary services of mortgage brokerage and title insurance. New regulation as of August 17 allows negotiable commissions for buyer agents and reAlpha’s zero-ommission platform provides an attractive solution, Maxim contends. It sees the company’s tailwinds including lower interest rates, changing industry dynamics, new services, geographical expansion, acquisitions, and a large total addressable market.