Real Brokerage bolsters agent financial tools, AI-powered tech 

Real Brokerage is betting big on its proprietary technology, announcing some major updates to agent tools and features on the heels of its RISE 2024 conference in Las Vegas this week. 

Real Wallet — the long-anticipated platform designed to help agents manage their finances — is now in limited release, while Leo, the company's AI assistant, has received a "proactive enhancement." 

Real Wallet marks its debut: Real Brokerage's Wallet concept was first introduced at last year's RISE conference, with the company noting that testing would begin in 2024. The product has now launched, but will initially be available only to "select agents in the U.S. and Canada." U.S. agents will be able to apply for a business checking account with financial partner Thread Bank, while Canadian agents can qualify for a line of credit directly with Real based on their earnings. 

The company claims that Real Wallet "integrates earnings, revenue share and equity into one seamless platform" while also allowing agents "to access their earnings faster by eliminating delays caused by legacy brokerage and banking systems." 

Another perk of the program, noted Real, is that agents utilizing the Real Wallet platform can earn "promotional rewards points" which can be redeemed to reduce an agent's brokerage and transaction fees.

When discussing the product during an earnings call earlier this year, CEO Tamir Poleg said he expected to see wide adoption of the tool. "The question is not how many agents will use it, it is how much credit do we feel comfortable giving to our agents," Poleg told investors. "For a team leader to be able to offer branded credit cards to their team members is huge. This is something that nobody else offers."

Leo gets an upgrade:  The company also announced the release of its new Leo CoPilot AI-assistant tool for agents, designed to boost productivity and streamline agent operations. Leo CoPilot will "serve as an agent command center, anticipating each agent's unique needs and providing personalized support," the company said, and will become the main tool agents use to interface with Real's reZEN tech platform and dashboard. 

The first version of the AI assistant was unveiled in May 2023, with Leo 2.0 released later that year. In announcing that update, Andrei Vazhnov, VP of product architecture, said "what we've developed taps into the power of every interaction across our 12,000+ user base," noting that the tool could "answer natural language questions as well as suggest relevant information and actions users should take to keep the process moving. Even when a user doesn't realize what comes next, we like to say: Leo already knows." 

Since launch, Leo "has handled over 180,000 context-specific inquiries," the company said. Its use of  GPT technology allows it to go beyond "generic, automated answers" with the hopes of reducing "the company's reliance on support teams."

What's next: A future version of Real's AI-powered virtual concierge will be consumer focused. The company announced its development of the Leo for Clients platform, which is expected to roll out at some point next year. 

Described as a tool that "redefines client-agent interactions by allowing direct communication with Leo," specific features include a dedicated phone number that clients can text to receive information about recommended properties, schedule tours, access open house info, and start the mortgage application process. 

"Leo for Clients is more than just a tool; it's a game-changing leap forward in how agents connect with their clients," said Real President Sharran Srivatsaa. "By automating routine tasks and providing instant, personalized service, we empower agents to focus on what truly matters — building relationships and closing deals. This represents the future of real estate — seamless, efficient and client-centered — and we are proud to lead the charge."