Real Brokerage Surpasses $350M Revenue as Agents Rapidly Join
An AI version of CEO Tamir Poleg highlighted tech advancements in the earnings call, while the real Poleg emphasized transparency in listings.
Illustration by Lanette Behiry/Real Estate News
Financial Highlights
- Revenue: $354 million, up 76% YoY
- Agent Growth: 26,870 agents, a 61% increase
- Transactions: 33,617 closed, valued at $13.5 billion
- Net Loss: Reduced to $5 million from $16.1 million in Q1 2024
Key Developments
- AI Integration: The company showcased an AI version of CEO Tamir Poleg during the earnings call, which delivered the opening statement. The AI assistant, Leo, now handles all agent support calls.
- Listings Transparency: Poleg emphasized the importance of consumer benefits in listing exposure, opposing strategies that seek competitive advantage over market efficiency.
- Leadership Transition: Sharran Srivatsaa, ranked 30th in the Swanepoel Power 200, will transition from president to the board of directors in June.
Outlook
Real Brokerage continues to expand its agent base and tech capabilities, positioning itself as a resilient player in a fluctuating market. With no debt and growing cash reserves, the company is optimistic about sustaining growth through innovation.
For more details, read the full earnings report here.
Related News
AI Boom and Lower Rates Fuel Early Fall Homebuying Surge
Pent-up demand and potential interest rate cuts are driving an early start to the fall homebuying season, with tech workers leading the charge.
Smart Home Tech for Seniors and AI Marketing in Real Estate
As seniors outnumber children in many U.S. states, demand for aging-in-place technology rises. Meanwhile, RE/MAX launches AI-powered marketing tools for agents.
About the Author
Michael Rodriguez
AI Technology Journalist
Veteran technology journalist with 12 years of focus on AI industry reporting. Former AI section editor at TechCrunch, now freelance writer contributing in-depth AI industry analysis to renowned media outlets like Wired and The Verge. Has keen insights into AI startups and emerging technology trends.