24/7 Realty Joins The Real Brokerage

Rhea-AI Summary

The Real Brokerage Inc. (NASDAQ: REAX) has announced that 24/7 Realty, a growing real estate team based in San Diego, is joining its network. Founded in 2019, 24/7 Realty has expanded from 4 to over 200 agents, closing 569 transactions worth more than $398 million in the past year. Their goal for 2023 is to close approximately 1,000 transactions. Real's CEO welcomed 24/7 Realty, citing their success and the opportunity for further growth in the competitive Southern California market.

Positive

• 24/7 Realty's growth from 4 to over 200 agents indicates strong market demand.
• The team closed 569 transactions in the last year, totaling over $398 million in volume.
• Real's network expansion in California aligns with the growing real estate market.

Negative

• None.

San Diego-Based Real Estate Team to be Led by Director Zach Fleischman

TORONTO & NEW YORK--(BUSINESS WIRE)-- The Real Brokerage Inc. (“Real” or the “Company”) (NASDAQ: REAX) (TSXV: REAX), an international, technology-powered real estate brokerage, today announced that 24/7 Realty, based in San Diego, is joining its growing network of agents.

24/7 Realty started in 2019 as a team of four agents and has since grown to more than 200 agents. The team services the San Diego and Riverside, California areas. 24/7 went from 30 transactions in their first year to 232 in year two and 540 last year, and have set the goal to close approximately 1,000 transactions this year. In the last 12 months, the team closed 569 transactions, which resulted in more than $398 million in closed volume.

“Our team is thrilled to be part of Real’s strong and growing national network,” says Troy Moritz, Owner of 24/7 Realty. “Our company has thrived on building community and a positive work culture, and we feel that Real will allow us to continue to do so while scaling nationally.”

“We are happy to welcome 24/7 Realty to Real,” said Real Chairman and CEO Tamir Poleg. “We are expanding rapidly in California—most recently in the San Diego area. Zach and his team will expose Real to even more buyers and sellers in Southern California, and the team will gain the tools they need to expand even further. We applaud their success to date and look forward to working with them in the future.”

About Real

The Real Brokerage Inc. (NASDAQ: REAX) (TSXV: REAX) is revolutionizing the residential real estate industry by pairing best-in-class technology with the trusted guidance of the agent-led experience. Real delivers a cloud-based platform to improve efficiencies and empower agents to provide a seamless end-to-end experience for homebuyers and sellers. The company was founded in 2014 and serves 44 states, D.C., and two Canadian provinces with over 5,000 agents. Additional information can be found on its website at www.joinreal.com.

Forward-Looking Information

This press release contains forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information is often, but not always, identified by the use of words such as “seek,” “anticipate,” “believe,” “plan,” “estimate,” “expect,” “likely” and “intend” and statements that an event or result “may,” “will,” “should,” “could” or “might” occur or be achieved and other similar expressions. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof. Forward-looking information in this press release includes, without limiting the foregoing, information relating to Twenty Four Seven Realty joining Real, and the business and strategic plans of Real.

Forward-looking information is based on assumptions that may prove to be incorrect, including but not limited to Real’s business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. Real considers these assumptions to be reasonable in the circumstances. However, forward-looking information is subject to known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements to differ materially from those expressed or implied in the forward-looking information. These factors should be carefully considered and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, Real cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and Real assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release, and the NASDAQ has neither approved nor disapproved the contents of this press release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220623005523/en/

For additional information:

The Real Brokerage Inc.

Elisabeth Warrick

elisabeth@therealbrokerage.com

Investors, for more information:

Jason Lee

Vice President, Capital Markets & Investor Relations

investors@therealbrokerage.com

908-280-2515

Source: The Real Brokerage Inc.

FAQ

What is the significance of 24/7 Realty joining The Real Brokerage Inc.?

The addition of 24/7 Realty enhances The Real Brokerage's agent network and market presence in Southern California.

How many transactions did 24/7 Realty complete last year?

24/7 Realty completed 569 transactions last year, amounting to over $398 million in closed volume.

What are 24/7 Realty's transaction goals for 2023?

24/7 Realty aims to close approximately 1,000 transactions in 2023.

Who leads the new San Diego-based team joining The Real Brokerage?

The San Diego-based team will be led by Director Zach Fleischman.

What is the stock symbol for The Real Brokerage Inc.?

The stock symbol for The Real Brokerage Inc. is REAX.