Real Brokerage Inc., also known as REAX, is a progressive real estate brokerage firm renowned for its innovative use of technology. Founded in 2014 by high-tech veterans Tamir Poleg and Gal Weiss, REAX leverages cloud-based technology to provide real estate professionals with a more efficient, flexible and profitable way to work. The company’s primary product, an application-based platform called Real, allows agents to run their entire business from their smartphones, eliminating the need for a traditional brick and mortar office.
The company initially launched in New York and has expanded its operations to various states in the U.S. REAX primarily targets independent and modern real estate experts who prefer flexibility and technology-driven efficiency, offering them a platform to collaborate, share insights and grow their businesses. With its expanding network of professionals, Real Brokerage Inc. is modernizing and invigorating the real estate sector.
One of the key aspects that set REAX apart is their business model. Instead of taking a sizeable cut from their agents' commission, the company gives 85% of it straight to the agent, keeping a comparatively small share for itself. Furthermore, REAX rewards agents with equity in the company, fostering a sense of loyalty and shared interest in the business’s growth and success.
By taking a digital-first approach, REAX is able to reduce the overhead expenses typically associated with running a real estate brokerage, such as office rent and administrative staff, and pass these savings on to their agents. This, coupled with their practice of giving most of the commission earnings back to the agent, makes REAX an attractive option for real estate professionals.
Having been listed on the NASDAQ stock exchange in June 2020, Real Brokerage Inc. is steadily gaining recognition within investment circles. The company continues to expand its footprint and improve its platform, with a focus on creating a supportive, empowering environment for its agents. The success of this business model is reflected in the consistent increase in the number of agents opting to associate with REAX.
In a rapidly evolving digital landscape, REAX represents the future of real estate – an industry that will continue to rely more heavily on cloud-based technology solutions. The nimble, tech-centric and agent-friendly approach of Real Brokerage Inc. makes it a pioneer in driving the transformation of the real estate industry in the digital age.