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Share Name | Share Symbol | Market | Type |
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Real Brokerage Inc | NASDAQ:REAX | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 5.00 | 4.95 | 5.00 | 7 | 10:35:03 |
Agents Foresee Improved Transparency as Real’s Agent Base Grows to Over 17,000
The Real Brokerage Inc. (NASDAQ: REAX, “Real”), the fastest-growing, publicly traded real estate brokerage, today announced results from its March 2024 Agent Survey, offering insights into housing market trends and real estate agent expectations across the United States and Canada. The survey reveals continued optimism among agents about future market conditions in both the United States and Canada, despite expectations of a continued year-over-year decline in industry transactions in March. The survey also highlights agent expectations for improved transparency and readiness as the industry prepares to implement practice changes associated with the National Association of Realtors (NAR) recently announced settlement agreement.
“We are grateful for the perspectives of our growing agent base, which has now surpassed the 17,000 milestone,” said Tamir Poleg, Chairman and CEO of Real. “Their opinions and insights are essential in guiding our approach, ensuring we remain thoughtful and agile as we navigate industry shifts together.”
“Embracing change and fostering transparency are cornerstones of our culture,” remarked Sharran Srivatsaa, President of Real. “Our agents' continued resilience and adaptability are critical as we position the Company to capitalize on evolving industry dynamics and emerge even stronger.”
Key Findings:
The average response among survey participants resulted in a weighted index reading of 63.3 on a 0-100 scale, with scores above 50 reflecting a positive outlook and those below 50, a negative one, thus signaling an expectation for improving year-over-year growth trends in the year ahead. March’s index level showed a slight decline from February’s 69.2, indicating lower optimism compared to the end of February, primarily due to a decline among U.S. agents, which offset improved optimism among agents surveyed in Canada.
An infographic including key survey takeaways can be found on Real’s investor relations website or by following the link here.
About the Survey
The Real Brokerage March 2024 Agent Survey included responses from over 400 real estate agents across the United States and Canada and was launched in the last week of March 2024. Responses to questions regarding transaction growth and agent optimism were calibrated on a 0-100 point index scale, with readings above 50 indicating an improving trend, whereas readings below 50 indicate a declining trend. Responses are meant to capture industry-level information and are not meant to serve as an indication of Real’s company-specific growth trends.
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 over 17,000 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 the residential real estate market in the U.S. and Canada.
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 and economic and industry downturns. 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/20240416117239/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 201.564.4221
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