REAL BROKERAGE INC - REAX STOCK NEWS

The Real Brokerage (NASDAQ: REAX) reported strong Q2 2024 results, ending June 30. Revenue increased by 84% YoY to $340.8M, and gross profit rose 79% to $31.9M. The company reported a net loss of $1.2M, a significant improvement from the $4.1M net loss in Q2 2023. Adjusted EBITDA surged to $14.0M from $2.6M in the previous year. Notable operational highlights include a 73% increase in closed transactions, a total of 30,367, and a 70% growth in agents, reaching 19,540. Real launched the Real Luxury division and Real Partners program to attract more agents and enhance client service. Looking ahead, Real aims to sustain growth and profitability. As of June 30, Real held $33.6M in cash and cash equivalents and reported no debt.

The Real Brokerage Inc. (NASDAQ: REAX) announced the addition of several top-performing real estate teams across North America in July 2023. This expansion follows the company's recent milestone of surpassing 20,000 agents. Notable teams joining Real include:

- Legacy Group: 8 agents, $293 million in sales since 2020
- L34 Group: 7 agents, $80 million in sales in 2023
- NUEVA Real Estate: 50 agents, $330 million in sales since 2020
- RAZR Group: 7 agents, $250 million in total sales
- Addison Real Estate: 21 agents, $282 million in sales since 2020
- Own It Northwest: 8 agents, $50 million in sales in 2023
- Utah's Finest: 3 agents, $40 million in sales in 2023
- SL Home Group: 7 agents, $33 million in sales in 2023

These teams bring diverse expertise and market coverage to Real's technology-driven platform.

Real Brokerage Inc. (NASDAQ: REAX) has opened its shareholder Q&A platform ahead of its second quarter 2024 financial results conference call. The call is scheduled for August 7, 2024, at 8:30 a.m. ET. Shareholders can submit and upvote questions for management through the Say portal until August 6, 2024, at 8:00 a.m. ET. The Q&A platform aims to enhance shareholder engagement and transparency.

An audio-only webcast of the call will be accessible from the company's Investor Relations website, with a replay available for one year. This initiative demonstrates Real's commitment to open communication with its investors as it continues to reshape the real estate industry through its technology platform.

The Real Brokerage Inc. (NASDAQ: REAX) has announced that The Kaim Team, a top-producing real estate team in Ohio, has joined the company. Led by siblings Michael Kaim and Tina Hivnor, the 25-agent team brings a lifetime sales record of $1.2 billion, significantly strengthening Real's presence in the state.

The Kaim Team, founded in 2002, serves nine counties in Northeast Ohio, including Cleveland, Akron, and Canton. They rank among the Top 10 teams in Ohio and have sold over 7,000 homes. This addition marks the largest team to represent Real in Ohio, bolstering the company's growth strategy and market position.

Real Brokerage Inc. (NASDAQ: REAX) released its June 2024 Agent Survey, showing steady optimism among real estate agents despite affordability concerns. Key findings include:

1. Agent Optimism Index remained stable at 59.1 (0-100 scale).
2. 51% of agents view their markets as favoring sellers.
3. Total North American home sales expected to decline year-over-year in June.
4. Affordability/mortgage rates remain the biggest challenge for buyers (60%).
5. Agents provide diverse expertise, including negotiations (76%) and local market knowledge (75%).

The survey highlights agents' critical role as trusted advisors in real estate transactions, with most clients viewing 6-10 homes before purchase and closing within 0-6 months.

The Real Brokerage Inc. (NASDAQ: REAX), a rapidly growing publicly traded real estate brokerage, has announced its upcoming second quarter 2024 earnings conference call. The company will release its financial results for the quarter ended June 30, 2024, on Wednesday, August 7, 2024, before the market opens. A conference call to discuss the operating and financial results will be held at 8:30 a.m. ET on the same day.

Investors can join the call using the provided dial-in details or access the audio-only webcast through the company's Investor Relations website. A replay of the call will be available for one year. The event promises insights into The Real Brokerage's performance and financial standing for Q2 2024.

The Real Brokerage (NASDAQ: REAX) has reached significant milestones, marking its 10th anniversary and surpassing 20,000 agents. The company, which added approximately 1,000 agents per month during the first half of 2024, celebrated with a day-long event at Nasdaq, including an agent seminar and the ringing of the closing bell. Real also surpassed its goal of raising $20,000 for its agent assistance fund, One Real Impact, by more than 200% thanks to contributions from its agents.

Real's mission is to revolutionize the real estate industry through advanced technology and strong community support. It operates in all 50 U.S. states and four Canadian provinces, offering integrated brokerage, mortgage, and title services. Notably, Real was recognized as the top mover in 2023 by RealTrends in both transaction sides and volume.

Several prominent teams have joined Real, contributing to its growing agent count. These include Carolina Collective Realty, Jill & Co. Realty Group, Tafoya Real Estate, and several others, all achieving impressive sales figures in 2023.

The Real Brokerage (NASDAQ: REAX) released its May 2024 Agent Survey results, highlighting shifting market dynamics amid ongoing affordability challenges. The survey shows agents' optimism is decreasing but remains positive, with a weighted index reading of 59.0. This marks a drop from 63.6 in April, with a more significant decline in the US. The survey indicates a balanced market dynamic, with 33% of agents perceiving neither buyers nor sellers having an advantage.

North American home sale transactions are expected to decline year-over-year, with a weighted index reading of 45.7. US transactions fell to 44.8 from April's 50.2, while Canadian activity rebounded to 54.4. Affordability and mortgage rates are the biggest challenges, cited by 59% of agents.

Generative AI adoption is increasing among agents, with 50% using it for business activities, primarily for advertising and listing text copy. Over 80% of agents are either using or planning to learn AI. More than half of the agents (58%) expect home prices to rise over the next 12 months.

Real Brokerage (NASDAQ: REAX), the fastest-growing publicly traded real estate brokerage, has launched the Real Partners program. This new initiative offers agents access to industry-leading tools and services from ten preferred vendors, aiming to enhance personal branding, client relationships, and business growth. The vendors include Assistantly, Curaytor, Dee Signs, DocuPost, Haven Financial, Lofty, Luxury Presence, Institute of Luxury Home Marketing, Revive, and Sierra Interactive. Agents benefit from discounts and vetted services, ensuring reputable and excellent client service.