Real Welcomes Leading Teams Across North America in July

Rhea-AI Summary

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.

Positive

• Continued expansion with addition of top-performing teams across North America
• Recently surpassed 20,000-agent milestone
• Attracted teams with significant sales volumes, ranging from $33 million to $330 million
• Expanded presence in multiple states and regions
• Added teams with diverse language capabilities and market specializations

Negative

• None.

TORONTO & NEW YORK--(BUSINESS WIRE)-- The Real Brokerage Inc. (NASDAQ: REAX), a technology platform reshaping real estate for agents, home buyers and sellers, today announced it continued to add top teams throughout North America in July.

“This year is proving to be a significant one for Real. Just last month, we surpassed the 20,000-agent milestone, and we’re steadily adding top-producing teams and independent brokerages who are positioning themselves in an evolving real estate market,” said Sharran Srivatsaa, President of Real. “At Real, we blend a proprietary technology platform with a distinct agent value proposition and a culture of collaboration, designed for entrepreneurs who want to be part of something bigger.”

The following are some of the teams joining Real during the month of July:

• Legacy Group, led by Corilyn Tessier and Kara Chase. The eight-agent boutique firm was founded in 2019 and serves New Hampshire, Southern Maine and Northern Massachusetts. Since 2020, the team has closed home sales of more than $293 million, including nearly $83 million in 2023.
• L34 Group, led by Deirdre Salomone and Terry Saltzman. The seven-agent team brings more than 40 years of collective experience to the clients it serves in Northeast Los Angeles, Altadena and Pasadena. Founded in 2009, the team closed sales totaling $80 million in 2023.
• NUEVA Real Estate, led by Jose Perez. Founded in 2020, the 50-agent team serves the Downey/Whittier markets in Southeast Los Angeles County and has helped 600 families achieve their real estate goals. Since its inception, it has closed home sales totaling more than $330 million, including $80 million in 2023.
• RAZR Group, led by MJ Frazier. The team brings seven agents and serves the D.C. metro, including Maryland and Virginia. The team focuses on catering to the unique needs of luxury investors and developers and joins as part of Real’s luxury division. In addition, with several of its agents fluent in Vietnamese and Spanish, the team is positioned to serve the diverse cultures who are represented in the nation’s capital. RAZR Group has closed home sales valued at more than $250 million, including $80 million in 2023.
• Addison Real Estate, led by Kellene Addison. A family-owned, women-led independent brokerage, Addison brings a diverse team of 21 agents who provide the capability of serving clients in six languages throughout Morris, Sussex and Warren counties in New Jersey. The team has sold 795 homes valued at $282 million since its founding in 2020, and closed sales totaling $70 million in 2023.
• Own It Northwest, led by Ross Seligman. Founded in 2005, the team’s eight agents serve the Portland metro area, including Beaverton, Hillsboro, Lake Oswego and Happy Valley. The team closed sales totaling $50 million in 2023.
• Utah’s Finest, led by Paige Steckling. The three-agent team was founded in 2022 and serves the state of Utah. The team closed sales of $40 million in 2023.
• SL Home Group, led by Stephen Lonnen. The seven-agent team was founded in 2020 and serves the greater Charlotte, N.C., metropolitan area, including Upstate South Carolina. The team closed sales of $33 million in 2023.

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 throughout the U.S. and Canada, Real supports more than 20,000 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 agent count.

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, Real’s ability to attract new agents and retain current agents and those risk factors discussed under the heading “Risk Factors'' in the Company’s Annual Information Form dated March 14, 2024, a copy of which is available under the Company’s SEDAR+ profile at www.sedarplus.ca. 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/20240806244443/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

elisabeth@therealbrokerage.com

201.564.4221

Source: The Real Brokerage Inc.

FAQ

How many new real estate teams did The Real Brokerage (REAX) add in July 2023?

The Real Brokerage (REAX) added 8 new real estate teams across North America in July 2023, including Legacy Group, L34 Group, NUEVA Real Estate, RAZR Group, Addison Real Estate, Own It Northwest, Utah's Finest, and SL Home Group.

What was the highest sales volume reported for a team joining The Real Brokerage (REAX) in July 2023?

The highest sales volume reported was from NUEVA Real Estate, which has closed home sales totaling more than $330 million since its inception in 2020, including $80 million in 2023.

How many agents did The Real Brokerage (REAX) surpass recently?

The Real Brokerage (REAX) recently surpassed the 20,000-agent milestone, as mentioned in the press release.

Which team joining The Real Brokerage (REAX) in July 2023 focuses on luxury investors and developers?

The RAZR Group, led by MJ Frazier, focuses on catering to the unique needs of luxury investors and developers and joins as part of Real's luxury division.