Real is a cloud real estate brokerage. It employs real estate agents as independent contractors and offers software and support to these agents. As a cloud brokerage, Real does not have any offices. Real is owned by one corporate entity and does not operate franchises in the US.
Agents join Real and access its suite of services via online portal. Real provides traditional real estate brokerage services as well as a number of software offerings and virtual services to its agents. For example, Real offers access to co marketing tools, a CRM, and transaction management tools. Like other brokerages, Real charges agents a commission split and assorted fees.
Similar to most traditional brokerages, real estate commissions charged to buyers and sellers working with Real are negotiated on a case-by-case basis with agents.
Real is publicly traded on the TSXV under the ticker REAX.
According to most public sources, Real has an 85% commission split with a $12,000 annual cap and $225 per transaction fee after the cap. Essentially, an agent will pay 15% of their commissions (they keep 85%) until they have paid Real $12,000 in commissions. After that, the agent will pay $225 on each closed transaction.
As of late 2020, Real had just over 1,200 agents.
Real acquired RealtyCrunch, a collaborative search and sharing platform for real estate, in January of 2021.