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The Real Brokerage (REAX) investor relations material

The Real Brokerage Oppenheimer 28th Annual Technology, Internet & Communications Conference summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Oppenheimer 28th Annual Technology, Internet & Communications Conference summary13 Aug, 2025

Industry overview and market position

  • Operates in a fragmented real estate market with 1.5 million agents in the US and 160,000 in Canada, generating $100 billion in annual commissions.

  • Holds less than 2% market share, indicating significant growth potential.

  • Offers agents compelling economics, proprietary technology, and a collaborative culture.

  • Provides continuous training and access to high-performing peers through REAL Academy.

  • Ancillary services like title, mortgage, and fintech are early-stage but expected to drive future margins.

Growth trajectory and financial performance

  • Went public in 2020 with $15M revenue, now listed solely on NASDAQ.

  • Achieved 6x revenue growth since Q2 2022, despite a 25% market decline.

  • Confident in continued growth through 2025 and beyond, regardless of mortgage rate trends.

  • Fixed cash operating expenses as a percentage of revenue have declined year over year.

  • Headcount efficiency ratio is 1 employee per 87 agents, far surpassing industry norms.

Agent value proposition and recruitment

  • Four main draws: freedom/flexibility, superior economics, advanced technology, and collaborative culture.

  • Private label and pro teams programs allow independent brokerages to retain branding and compensation models.

  • 15% of new agents joined via private label in the last 18 months.

  • Agents keep 85% of commissions up to a $12,000 cap, then 100% with a flat transaction fee.

  • Revenue share model incentivizes agent recruitment and retention, with up to 5% of recruits' gross commission income.

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Frequently asked questions

The Real Brokerage Inc. is an American real estate company. The company, together with its subsidiaries, serves markets in the United States and Canada. It is organized into three business segments: North American Brokerage, Real Title, and One Real Mortgage, offering services across real estate brokerage, title insurance, and mortgage brokerage. The company is headquartered in Miami, Florida, and its shares are listed on the NASDAQ.

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