Real president stepping away from role
Sharran Srivatsaa, who joined Real just over two years ago, is moving to the brokerage's board of directors, a transition he described as "bittersweet."
Real Brokerage announced this morning that Sharran Srivatsaa, the company's influential president, is stepping away from his role and joining the board of directors.
In an announcement, Real Brokerage CEO Tamir Poleg said the company was "incredibly grateful for [Srivatsaa]'s contributions" and "excited that he will continue to play a critical role" in shaping Real's strategy as a member of the board.
Srivatsaa noted that the transition away from his hands-on position leading daily operations is "bittersweet." The change will go into effect on June 1, pending board approval.
"I am incredibly confident in the strength of our leadership team and the trajectory of our company," Srivatsaa said. "I look forward to continuing to support Real in this next chapter as a Board member, ensuring that we remain focused on delivering unmatched value to our agents, partners and shareholders."
Real's streak of successes: Real Brokerage has witnessed explosive growth in revenue and other key metrics in recent quarters despite the sluggish housing market. During Real's most recent earnings call, the company reported its first $1 billion revenue year in 2024 and noted major gains in agent count and transaction sides. Real leadership noted that it had 26,200 agents at the time of the March 6 earnings call. For 2024, agent count increased by nearly 80%.
A rising star in the industry: Srivatsaa joined Real as president in December 2022, and his leadership has been viewed as a crucial factor in Real's success. In this year's Swanepoel Power 200 rankings, CEO Tamir Poleg was listed as the 20th most powerful person in real estate while Srivatsaa took the 30th spot. Additionally, Real and Srivatsaa were among Real Estate News' top ten newsmakers in 2024.
A self-described "servant leader" who has emphasized agent morale and "leading with grace," Srivatsaa was hands-on in preparing agents for the post-settlement future and the major changes in the industry that came from it. But Srivatsaa also frequently signaled his bullishness on Real's cloud-based revenue share model and argued that it, combined with the company's emphasis on culture and innovation, would set a new precedent for the industry.
"As long as it feels like it's a good opportunity for agents and it works economically for the company, we want to keep it going," he said to Real Estate News last December.