REAL BROKERAGE INC - REAX STOCK NEWS

Real Brokerage (NASDAQ: REAX) released its October 2024 Agent Survey showing increased market optimism despite high mortgage rates. The Agent Optimism Index rose to 68.5 in October from 67.0 in September, with 67% of agents feeling more optimistic about the next 12 months.

The survey reveals that affordability remains the primary challenge, cited by 57% of agents, up from 48% in September. In response, 44% of agents expect buyers to compromise on home features or location if rates stay between 6-7% in 2025. Location is expected to be the top compromise (38%), followed by home features (28%) and size (16%).

The market shows signs of rebalancing, with buyer's market share increasing to 27% while seller's market share decreased to 35%. The Transaction Growth Index dropped to 44.4, indicating deeper transaction declines.

Real Brokerage (NASDAQ: REAX) has announced its participation in three upcoming investor conferences. CEO Tamir Poleg will present at the RBC Global Technology, Internet, Media and Telecommunications Conference on November 19, 2024, at 12:00 p.m. ET, the Stephens Annual Investment Conference on November 20, 2024, at 3:00 p.m. ET, and the Needham 4th Annual Consumer Tech / E-commerce Virtual Conference on November 25, 2024, at 10:15 a.m. ET. All presentations will be available via webcast, with replays accessible for one year through the provided links and the company's investor relations website.

The Real Brokerage (NASDAQ: REAX) announced significant growth with the addition of multiple high-performing teams across North America. The company is adding approximately 1,000 professionals monthly in 2024, with its agent base now exceeding 22,000. Notable additions include Urban Luxe Real Estate (48 agents, $163M in 2023 sales), Chris Holm & Associates ($58M in 2023), and The Liberty Group (13 agents, $50M in 2023). Other significant teams joining include Amen Real Estate with over 40 agents and $40M in 2023 sales, operating under Real's Private Label program.

The Real Brokerage Inc. (NASDAQ: REAX) released its Q3 2024 financials, showcasing robust growth. Key highlights include a 74% revenue increase to $372.5 million and a 71% rise in gross profit to $32.1 million. The company posted a net loss of $2.6 million, an improvement from a $4.0 million loss in Q3 2023. Adjusted EBITDA surged to $13.3 million from $3.5 million. Operationally, Real completed $14.4 billion in real estate transactions, up 78%, and closed 35,832 transactions, up 76%. The agent count grew by 79% to 21,770. Major product launches include Real Wallet and Leo AI, enhancing agent and client experiences. Despite a 52% increase in operating expenses to $34.6 million, adjusted operating expenses per transaction fell by 16% to $468. The company repurchased 2.7 million shares for $15.1 million and held $32.0 million in cash with no debt.

The Real Brokerage (NASDAQ: REAX) announced that Amerivest Realty, led by Joe Ballarino, has joined their platform, bringing 400 agents across Florida, Colorado, Minnesota and Wisconsin. Amerivest has completed over 5,000 sales valued at nearly $2.5 billion, with approximately 1,000 sales worth $500 million in 2023 alone. Ballarino, who brings nearly 30 years of industry experience and took full ownership of Amerivest in 2016, has transformed it into a multi-state online brokerage focused on technology and agent empowerment.

The Real Brokerage (NASDAQ: REAX) announced winners of its first Agent Brand Awards at RISE 2024, recognizing exceptional marketing efforts across social media, websites, and signage. The awards showcase agents and teams who excel in building their personal brands while strengthening Real's brokerage presence. Winners were honored in multiple categories, including Best New to Real Video, Best Listing Video (Luxury), Best Special Moment Video, Signage, and Website awards. Chief Marketing Officer Dre Madden highlighted the unique passion and creativity of Real's thousands of agents across the U.S. and Canada in promoting the brand.

Real Brokerage's September 2024 Agent Survey shows increasing optimism in the real estate market despite challenges. The Agent Optimism Index rose to 67.0 from 59.3 in August, with 64% of agents feeling more optimistic about the next 12 months. 74% of agents reported election uncertainty is causing clients to delay housing decisions.

Key findings reveal that affordability remains the top challenge at 48%, followed by inventory at 22%. For meaningful market growth in 2025, 46% of agents believe mortgage rates need to drop to 5.0-5.5%. The survey also shows a shift in market dynamics, with 38% reporting a seller's market (down from 41%), 40% a balanced market, and 23% a buyer's market (up from 20%).

The Real Brokerage (NASDAQ: REAX) has opened its shareholder Q&A platform ahead of its Q3 2024 financial results conference call scheduled for November 7, 2024, at 8:30 a.m. ET. Shareholders can submit and upvote questions through the Say portal until November 6, 2024, at 8:00 a.m. ET. The company will provide an audio webcast of the call through its Investor Relations website, with a replay available for one year.

Real Brokerage Inc. (NASDAQ: REAX) has launched Real Wallet, a financial platform designed to provide real estate agents with enhanced financial flexibility and control. Unveiled at RISE 2024, Real's annual agent conference in Las Vegas, Real Wallet integrates earnings, revenue share, and equity into one seamless platform. The product aims to accelerate access to earnings by eliminating delays caused by legacy systems and offers real-time insights into agents' professional net worth.

Initially available to select agents in the U.S. and Canada, Real Wallet offers U.S. agents a business checking account with Thread Bank (Member FDIC) and a Real-branded debit card. Canadian agents will have access to a credit line based on their earnings history with Real. Future phases aim to unify these features into a comprehensive financial solution for all business banking needs.