The Real Brokerage(US:REAX)2025-05-08 11:25Company Overview - The Real Brokerage Inc was founded in 2014 and aims to disrupt the traditional real estate brokerage model by offering agents higher value at a lower cost[11] - The company's vision is to redefine the home buying and selling process and enable agents to build long-term wealth[11] Financial Performance - The company's last twelve months revenue as of Q1 2025 was $1418 million[13] - The company's last twelve months Adjusted EBITDA as of Q1 2025 was $446 million[15] - As of Q1 2025, the company had 26870 agents[13] - The company's gross profit for the three months ended March 31, 2025, was $33936 thousand[164] Agent Value Proposition - The company offers a competitive 85%/15% commission split, favoring agents, with agents keeping all gross commission income after reaching a $12000 annual cap[40] - The company provides a revenue sharing model where agents can earn additional income by receiving a percentage of commissions generated by agents they attract to Real[40] Technology and Innovation - The company's proprietary software platform, reZEN, offers a comprehensive range of tools for real estate agents[54] - The company launched Real Wallet in Q4 2024, offering a Real-branded debit card for U S agents and a business line of credit for Canadian agents, generating $126K in revenue in Q1 2025[60,62] Market Position and Growth - Since 2021, Real has grown agent count by over 6x, even as the Existing Home Sales market has declined by over 30% during that time[24] - The company represents less than 2% of the US agent market share[72]