PREMIERE Group, One of the Nation’s Largest and Fastest Growing Mega Teams, Joins The Real Brokerage

Rhea-AI Summary

Real Brokerage Inc. (NASDAQ: REAX) has announced that the PREMIERE Group, one of the nation’s largest mega teams, has joined the company, bringing nearly $650 million in sales across 20 states since its founding in 2017. The group is known for its tech-first, agent-centric brokerage model and has grown from 20 agents to more than 250 agents in 38 markets across 20 states. The move aligns with Real's mission and offers wealth-building opportunities for agents.

Insights

Market Research Analyst

The announcement of PREMIERE Group's integration into The Real Brokerage Inc. (NASDAQ: REAX) represents a significant strategic move within the real estate brokerage industry. This partnership is pivotal due to PREMIERE's impressive sales figures, reaching nearly $650 million across 20 states since its inception. The group's rapid growth trajectory, expanding from 20 agents to over 250 in a short span, suggests a scalable business model that can potentially boost Real Brokerage's market share and revenue.

From a market research perspective, the adoption of a cloud-based model with advanced technological platforms could enhance operational efficiencies and agent productivity. Such a model aligns with current industry trends towards digital transformation, which can be a strong selling point for Real Brokerage in attracting both agents and clients. Moreover, the goal to expand to all 50 states by the end of 2025 shows ambition and a clear growth strategy that could appeal to investors looking for companies with a national footprint and long-term expansion plans.

Financial Analyst

The financial implications of PREMIERE joining Real Brokerage are multifaceted. Initially, the influx of $650 million in sales is likely to have a positive impact on Real Brokerage's revenue streams and earnings reports. Investors will be closely monitoring the integration process and its effect on the company's profit margins, particularly given PREMIERE's commitment to reinvesting 100% of profits back into its agents.

Furthermore, the operational leverage from PREMIERE's existing infrastructure and technological investments could lead to cost synergies, enhancing Real Brokerage's profitability in the long run. It is essential to consider how the revenue sharing model will affect the company's financial health and whether the increased agent count will translate into higher transaction volumes without proportionally increasing overhead costs.

Real Estate Industry Expert

The real estate brokerage industry is highly competitive and the arrival of PREMIERE into Real Brokerage could disrupt the status quo. PREMIERE's recognition in the prestigious 2023 RealTrends + Tom Ferry's The Thousand list, which places them in the top 0.5% of Realtors® nationwide, is a testament to their performance and reputation. This accolade could enhance Real Brokerage's brand prestige and credibility in the market.

The strategic move also indicates a shift towards tech-first, agent-centric brokerages, which could set new industry standards for agent support and client service. As PREMIERE has demonstrated success in leveraging technology to scale their operations, their integration may encourage other firms to innovate and adopt similar models to remain competitive. This could have a ripple effect on industry practices and consumer expectations.

PREMIERE brings $650 million in sales across 20 states to the fastest-growing, publicly traded brokerage

TORONTO & NEW YORK--(BUSINESS WIRE)-- The Real Brokerage Inc. (NASDAQ: REAX), the fastest-growing, publicly traded real estate brokerage, today announced that the PREMIERE Group, one of the nation’s largest and most successful mega teams, has joined the company. Founded as a new kind of brokerage by successful entrepreneur and technologist David Keener and ranked as the No.1 mega team in the U.S. at one of the nation’s largest brokerage firms based on closed transactions in 2023, PREMIERE brings nearly $650 million in sales across 20 states since its founding in 2017.

Acting as a brokerage within a brokerage, PREMIERE has set itself apart among other large teams by investing 100% of its profits back into its agents and offering a cloud-based model with a state-of-the-art technology platform, low splits, revenue sharing and expansive marketing and operations resources. To encourage a sense of community without brick and mortar offices, PREMIERE has team leaders in each of the markets in which it operates.

“Dave’s decision to bring PREMIERE to Real is a monumental testament to the Real model and what our company offers top teams,” Real President Sharran Srivatsaa said. “In less than three years, Dave and his team have grown PREMIERE from less than two dozen agents to more than 200. His vision of building a tech-first, agent-centric brokerage aligns with our mission at Real. I’m thrilled to welcome Dave and the entire PREMIERE team to Real and to be able to provide a platform that helps them achieve their national expansion goals in a manner that supports their culture and dedication to serving clients.”

Based in Greensboro, N.C., PREMIERE holds the distinction of being named to the prestigious 2023 RealTrends + Tom Ferry's The Thousand list, ranking in the top 0.5% of the more than 1.5 million Realtors^® nationwide. In 2023, PREMIERE closed 1,315 home sales valued at more than $303 million and ranked as the top mega team at one of the nation’s largest brokerage firms.

A successful investor, entrepreneur and founder of technology companies that have sold for a combined value of over $240 million, Keener founded the PREMIERE Group in 2017 with a belief that agents and their clients were underserved from a technology standpoint.

“PREMIERE was built to be a different kind of brokerage team, so this was not a move we entered lightly. It was important to us to be able to maintain the values that differentiate PREMIERE,” Keener said. “After looking at a lot of models, Real is the only brokerage ideally set up for teams – it’s not only got a strong agent-centric culture that offers wealth-building opportunities, the Real platform is designed to ensure agents provide a great experience for clients.”

Since making the decision to expand beyond North Carolina in 2021, PREMIERE has grown from 20 agents to more than 250 agents in 38 markets across 20 states by offering an agent-centric model that includes financial incentives as well as an operational platform and culture not typically found in cloud-based companies. The team’s coverage area spans the entire East Coast, south to Texas and as far west as California. PREMIERE’s goal is to be in all 50 states by the end of 2025.

About Real

Real (NASDAQ: REAX) is a real estate experience company working to make life’s most complex transaction simple. The fast-growing company combines essential real estate, mortgage and closing services with powerful technology to deliver a single seamless end-to-end consumer experience, guided by trusted agents. With a presence in all 50 states throughout the U.S. and Canada, Real supports more than 14,000 agents who use its digital brokerage platform and tight-knit professional community to power their own forward-thinking businesses.

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 of the date hereof. Forward-looking information in this press release includes, without limiting the foregoing, expectations regarding Real’s ability to continue to attract agents.

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. Important factors that could cause such differences include, but are not limited to, slowdowns in real estate markets, economic and industry downturns and Real’s ability to attract new agents and retain current agents. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240122347420/en/

Investor inquiries, please contact:

Ravi Jani

Vice President, Investor Relations and Financial Planning & Analysis

investors@therealbrokerage.com

908.280.2515



For media inquiries, please contact:

Elisabeth Warrick

Senior Director, Marketing, Communications & Brand

press@therealbrokerage.com

Source: The Real Brokerage Inc.

FAQ

What is the name of the fastest-growing, publicly traded real estate brokerage mentioned in the press release?

The fastest-growing, publicly traded real estate brokerage mentioned in the press release is Real Brokerage Inc. with the ticker symbol REAX.

How much in sales has the PREMIERE Group brought to Real Brokerage Inc.?

The PREMIERE Group has brought nearly $650 million in sales across 20 states to Real Brokerage Inc.

What is the ticker symbol for Real Brokerage Inc.?

The ticker symbol for Real Brokerage Inc. is REAX.

How many agents has the PREMIERE Group grown to since its founding in 2017?

The PREMIERE Group has grown from 20 agents to more than 250 agents since its founding in 2017.

What is the coverage area of the PREMIERE Group?

The coverage area of the PREMIERE Group spans the entire East Coast, south to Texas, and as far west as California.