Real Brokerage hits 1st billion-dollar year as agent count soars 

The quickly growing Real Brokerage announced its first billion-dollar revenue year during its March 6 earnings call, reporting revenue of $1.26 billion for 2024. But there were numerous other milestones too — particularly with transactions and agent count.

"We closed over 120,000 transactions, an increase of 81% versus 2023. Total transaction value reached $49 billion, up 90% year over year," CEO Tamir Poleg told investors during the company's earnings call. He also pointed out that revenue jumped 84% from $689 million in 2023.

Real President Sharran Srivatsaa noted that the brokerage attracted 10,000 agents during the year, bringing its total agent count up to 24,140 by the end of 2024. The number was significant for a number of reasons, Srivatsaa said, noting that it "took 9 years to reach the first 10,000 agents."

What the company had to say

Poleg offered insight into some of the company's initiatives, including the brokerage's progress on its recently launched Real Wallet effort — a business checking account and cash advance for agents that integrates into the company's agent dashboard. Poleg said that the brokerage has 2,500 agents participating in Real Wallet and 150 agents in Canada have taken a line of credit. The company also plans to hire a general manager specifically to oversee the Real Wallet and its growth. 

"On the Wallet side, there's a lot of excitement amongst the agents. We haven't started marketing it heavily, but going from 2,500 agents to 5,000 agents, I think that that will happen in the next couple of months," Poleg said, adding that the company currently has about $7 million in agent deposits.

Additionally, Real leadership highlighted its private label offering, which allows independent brokerages to utilize the Real platform and tech suite while maintaining their own branding, as a "game changer." Srivatsaa said that the company has attracted 40 independent brokerages via the private label initiative, the largest being Southern California's Harvest Realty with 550 agents. 

Real Brokerage shares (REAX) were up 5% at the start of the trading day. 

Key numbers

Revenue: $350.6 million in Q4 2024, an increase of 93% year-over-year and $1.26 billion for the full year, representing an increase of 84% from the prior year. 

Cash and cash equivalents: $32.8 million at the end of Q4, which remains largely unchanged from the previous quarter. Real leadership notes that it "continues to have no debt."

Net income/loss: The company reported a net loss of $6.7 million in the fourth quarter of 2024 and a net loss of $26.5 million for the full year. Costs related to antitrust litigation equated to $20.0 million in the fourth quarter of 2024, the company said. 

Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization): $9.1 million at the end of Q4 2024 compared to $8.5 million during the same period a year ago.

Transactions: Real reported 35,370 closed transaction sides in Q4 2024 and 120,601 for the entire year — the latter representing a significant jump from 66,646 transaction sides closed in 2023.

Agent count: 24,140 agents at the end of Q4 2024, roughly an increase of 77% year-over-year. Real leadership noted that it had 26,200 agents at the time of the March 6 earnings call.