REAL BROKERAGE INC - REAX STOCK NEWS

The Real Brokerage Inc. (TSX: REAX, NASDAQ: REAX) has started operations in Delaware, enhancing its footprint in the Eastern Seaboard. This expansion includes the addition of two high-performing teams, Garner & Co. and Kilner & Kirk Group, bringing a total of 29 new agents from the D.C. region and Maryland. Garner & Co. closed over 275 transactions worth more than $100 million in 2022, while Kilner & Kirk completed around 100 transactions totaling $80 million. Chairman and CEO Tamir Poleg emphasized that this growth allows for better service to clients exploring homeownership opportunities. Real aims to revolutionize the real estate industry with advanced technology and a supportive environment for its agents.

The Real Brokerage Inc. (TSX: REAX, NASDAQ: REAX) announced that Tamir Poleg, Chairman and CEO, will present at the Ladenburg Thalmann Technology Expo 2023 in New York on April 27, 2023, at 10 a.m. ET. The presentation will be available live via a webcast, accessible through their investor website.

Founded in 2014, Real Brokerage specializes in transforming the residential real estate market by integrating advanced technology with a supportive agent-led approach. With over 10,000 agents, it operates across 45 states, Washington D.C., and three Canadian provinces. This event marks a significant opportunity for investors and stakeholders to gain insights into the company’s innovative strategies and growth trajectory.

Real Title, a digital closing platform, has launched Real Escrow in California, marking its expansion into six states, including Florida, Georgia, Texas, Utah, and Arizona. This service aims to provide a seamless real estate transaction experience. The company plans to be operational in at least 10 states by the second half of 2023. To support this growth, Brad Miller has been appointed as National Director of Title, bringing 17 years of industry experience. Real Title’s strategy focuses on leveraging technology to enhance customer service in a competitive market dominated by significant technology firms.

The Real Brokerage Inc. (TSX: REAX), a rapidly growing real estate brokerage, has announced its merger with Sentry Residential, which focuses on serving military personnel and their families. This merger will lead to the establishment of Real's Military Division, utilizing Sentry's existing relationships and Real’s over 500 military-focused agents. This strategic move pushes the total number of Real agents beyond 10,000, a significant milestone, reflecting strong recruiting performance in Q1 2023. The collaboration aims to enhance services for military families and support their home ownership and career needs.

The Real Brokerage Inc. (TSX: REAX, NASDAQ: REAX) has appointed Alexandra Lumpkin as its first General Counsel, enhancing its leadership team. Reporting to CEO Tamir Poleg, Lumpkin will oversee legal and compliance matters. With nearly a decade of experience at Lennar, Lumpkin possesses significant industry expertise, particularly in residential real estate, corporate governance, and securities law. Her previous roles include Associate General Counsel and Deputy General Counsel at Lennar. Real Brokerage aims to leverage her experience to further its growth and technological integration in real estate.

The Real Brokerage (TSX: REAX) reported substantial growth in its Q4 and full-year 2022 financial results, with revenue surging 214% year-over-year to $381.8 million and gross profit increasing by 188% to $32 million. Despite the positive growth, the company posted a net loss of $20.6 million for the year, up from a $11.7 million loss in 2021. The agent base grew by 113% year-over-year, exceeding 8,200 agents by year-end. Changes to the agent fee structure are anticipated to generate over $5 million in net profit in 2023. The company aims to achieve adjusted EBITDA profitability in the latter half of the year, driven by strategic operational changes.