Real (Real Broker)

Real (Real Broker)
3.80
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/ based on 5 reviews

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3.80/5

based on 5 reviews

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  • 2 Good
  • 0 Ok
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  • 1 Terrible
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For new agents, there are lots of calls to help you succeed. All in all there isn't a lot of pressure compared to standard real estate firms.

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Real is all virtual....

Because Real is virtual, they don't have anybody in your local market to help you! You have to do everything on the phone app, which isn't easy if you have bad eyes.

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Real is a tech company not a real estate company. They do have good support and very good technology. And of course good commission split. But you really need to be an experienced agent to take full advantage. Being a remote employee can make you feel kind of isolated.

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There is lots of help from all of the other agents out there (and the brokers), even though they are virtual. The commission plans cannot be beaten, and there are no desk fees at all.

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Real is the most technologically advanced brokerage I am aware of. There are no desk fees and the commission splits are great. The onboarding process was smooth.

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About

About Real

Real bills itself as the first mobile tech-based real estate firm. Agents don’t operate out of the traditional office. All the agent tools, broker support & more are all packaged into a single mobile app. 

Real is generally considered more of a fit for experienced agents than new agents.  Newer agents typically need more structure, name recognition, support, in-person training, and one-to-one mentoring. However, established agents generally don’t need their hands held as they can bring sales through the door. They favor brokerages with high commission-splits & more freedom – where Real can be a good fit.

Beginnings & History of Real

In 2014, there was a convergence of real estate experts and technology entrepreneurs with the mission of creating a new tech-based real estate brokerage. 

Notable figures, who contributed to the firm’s founding, included Tamir Poleg (current CEO), Gal Weiss (founder of Ocean Technologies) & Yuval Niv (current CPO). 

In just six years, Real has gained a foothold across 96 markets in 20 states. It emerged as one of the finalists in the Inman awards Innovative Company of the Year in 2016 & 2017. Through several venture funding rounds, the company has raised over $11M.

Quick Facts about Real 

  • Real is a virtual brokerage. They keep their physical offices to a minimum only where mandated by law. Instead, agents work from home or shared office spaces. They have lower fixed costs since they are virtual, allowing them to pass savings on to agents & clients. Agents receive on-demand support from brokers & experts regardless of their location. 
  • Real is ranked amongst the top five virtual brokerages in the U.S. eXp Realty ranks first.
  • Top producers, community members, and referrers are always recognized by being featured on their website.
  • Mobile technology is at the heart of the company. 

Passive Income

Real encourages agents to bring in more recruits. Each referral grants you a cut of 4% on the total sales the recruit generates. You can earn a maximum of $3200 annually. Real pays the commission directly. 

Once you join the elite revenue sharing plan (based on the number of agents you have referred), the revenue share extends down to 5 tiers. 

Working at Real

Overall, the overwhelming number of agents think that it’s a great company with top-notch technology. The platform is mobile-based, so agents aren’t tethered to an office.  Some agents love this hands-off approach. The company tries to promote a sense of community even without face-to-face interactions. 

The support team is known for responding quickly and offering exceptional services.

Real’s agent tech stack

Real is tech-centric, so expect a wide array of tools & technologies. Here are some options you’ll get: 

Google Suite

Google Suite (or Gsuite) consists of productivity and collaboration apps developed by Google, including Google Calendar, Gmail, Google Drive, etc.

Dotloop

Utilizing this platform, agents conduct paper-less and compliant transactions from start to end. 

CloudCMA

Real agents use this third-party app to create comparative market analysis reports quickly. The focus is on helping real estate professionals secure more listings.

IDX-integrated Websites

MLS listings are added to the agents’ websites or their mobile apps. IDX is the program that provides the link to the MLS database. 

Real App

Work revolves around the “Real Mobile App for agents.” It allows them to carry out CRM tasks, communicate with prospects, access marketing & branding assets, etc. 

Agent training

Agents can learn from top producers and real estate experts from live video sessions hosted multiple times per week. The brokerage also provides articles and guides used for self-study. 

If you join a team headed by a more experienced agent, you may get one-to-one coaching. Contacting support is another way to have questions answered. Weekly national conference calls also give agents a chance to network and learn.

FAQs

Real has some of the best splits in the industry.  Agents take 85%, with Real taking a 15% share. 

The cap is $12,000. If you hit the cap which is reasonable by industry standards, you keep 100% of the commissions afterward.

Keeping costs down by minimizing offices has its advantages. The biggest pro is that there are no desk fees. 

Some virtual brokerages don’t impose desk fees but will charge monthly fees. Well, Real has neither desk fees nor monthly fees.

There are transaction fees, though. You pay 0.05% of the transaction value. The fee is capped at $500 per transaction. For instance, if a home sold for $500,000, you’d only pay $250. 

While agents at many other firms have to pay for E&O insurance, Real doesn’t charge at all.

Becoming an agent at this virtual brokerage is easy – just submit a form on their website and a local leader will get in touch with you.

No monthly fees: Few brokerages can claim to have no monthly, E&O, franchise, tech, or desk fees.

High Commission Split: In reviews, many people have highlighted that the commission split is fair.

Easy to build teams: The brokerage even offers incentives for those building teams such as a $200 transaction fee after hitting the cap.

Innovative technology: Let’s point out this amazing fact: Facilitating a real estate sale from your mobile phone is pretty amazing. Many agents in reviews say that they like the tech.

Earn passive income: You’re rewarded for attracting new agents to the company.

In a number of reviews, agents mentioned that they had difficulties at times accessing support from state brokers. They want more brokers assigned to each territory. 

You’ll not enjoy the same name recognition or the backing of a famous company.

Unless you join a team, working alone might prove difficult if you can’t motivate yourself. Remote working lacks the structure of an office environment. The broker is often miles away, which means no in-person interactions or supervision.

It is not a franchise and doesn’t have franchisees.