First-of-its-kind program allows two agents to co-sponsor a recruit, share revenue and amplify community support
The Real Brokerage Inc. (TSX: REAX) (NASDAQ: REAX), the fastest-growing publicly traded real estate brokerage, today announced that it is enhancing its revenue share program to give its agents the choice to partner to bring new agents into the company. Real’s Co-Sponsored Revenue Share program, which launches February 1, 2023 throughout the U.S and Canada, is designed to break down silos and encourage collaboration as the company continues its rapid expansion. It is believed to be the first of its kind in the industry.
Until now, an agent joining Real was able to name only one sponsor, an existing Real agent who would receive a portion of the brokerage’s share of the agent’s commission split on the completion of a real estate transaction. Under the new program, an agent can be sponsored by up to two agents, with each agent sharing equally in a portion of Real’s split of the commission.
“Our existing agents are our biggest source for attracting new agent talent. They are the reason we more than doubled our agent count in 2022,” said Real Chairman and Chief Executive Officer Tamir Poleg. “At the same time, we are mindful of our overarching goal of building a culture that rewards both production as well as collaboration. Incentivizing agents to work together to recruit new team members aligns with our core values and will lead to increased teamwork and community-building beyond an individual’s established network. We believe that a culture built on economics can be very successful, but a culture based on economics and collaboration grows exponentially.”
Poleg said the program enhancement is a direct result of agent feedback and is designed to provide new recruits more flexibility during the onboarding process while encouraging agents to focus on sharing Real’s benefits with other high producing agents.
Under Real’s revenue share program, agents earn revenue on transactions closed by agents they directly sponsor as well as the agents their recruits sponsor. The new Co-Sponsored Revenue Share program significantly broadens the earnings opportunity for agents beyond a singular agent network, increasing earnings capacity over the long-term and fueling cross-network collaboration.
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The Real Brokerage Inc. is revolutionizing the residential real estate industry by pairing best-in-class technology with the trusted guidance of the agent-led experience. We provide a digital brokerage platform for agents, while working to build a better end-to-end home buying experience for consumers. The company was founded in 2014 and serves 45 states, D.C., and three Canadian provinces with over 8,000 agents. Additional information can be found on its website at www.onereal.com.