Any review on "Real - Technology Powered Real Estate Brokerage"?

Question

I have been thinking about getting my real estate license and have been wondering about the online brokerage- real.  I haven't seen it on biggerpockets and am wondering if any agent has experience with this brokerage or your thoughts on this. Their website is joinreal.com. They have no fees and have a 85/15 split, which seems pretty good. Thank you.

Kevin O'Donnell · Answer

Hi Teddy,

Check out this article:

https://www.benzinga.com/pressreleases/17/03/p9174...

I think the idea of real. is to kind of get out of the agent's way and make the brand "you". Hence, the ultra-generic name.

I think they're onto something...

Eddie Schmidt · Answer

@Kelli Huang  It really sounds like it’s trying to duplicate EXP Realty. EXP has been booming, its basically all cloud based with a great split, Downline earning possibilities, stock options on sales and great online training platform. I came from coldwell banker and I haven’t looked back since I left.  It’s a totally different feel from being in a traditional brokerage but gives you a lot of options for growing.  Shoot me a message if you’d like, a lot of people are leaving New York and I’m always looking for agents to send referrals to. Don’t forget when your looking for a brokerage your interviewing them, they’re not interviewing you.

David Spjut · Answer

Real is a knock-off copy of eXp Realty. Reach out if you would like more specific details.

Kevin O'Donnell · Answer

In the quest to find an "investor-friendly" brokerage that allows you to truly make your own schedule, work when you want, etc. without the monthly fees and transaction fees, I think you'd be hard pressed to find a better option.

Kelli Huang · Answer

Thank you all for replying. I will give it more thoughts and time to see if it "last" before I give it a try.

Chris Martin · Answer

At the top of markets, the VCs will find ways to make a buck for themselves. Show me a side-by-side apples to apples comparison of everything they offer over Keller Williams. That should be the standard, IMO.

Note, I am not a broker. But I see operations come and go... they (the new 'best thing')  don't seem to consistently survive the first downturn. If I were a broker, I'd look for some stability across a minimum of one real estate cycle.

The article doesn't identify closing volumes. Are agents closing 50% more than in their prior brokerage? No mention of that. Is that not a red flag? Adding agents is their metric. Wrong metric, from an 'outsider' (I am not a broker) looking at a company that has a mission to (from article) "...help agents build and sustain a business for themselves and live the life they want..." It is the absolute right metric if you are a VC pitching disruptive technology and looking for the big IPO.

I see this concept appealing to very few top producers and mostly to part-time, low closing production realtors. In their fine print: "Upon joining Real, you will also be required to be a member of your local board." May or may not be appealing for brokers who can 'hang their hat' with an existing company for their own (primarily) transactions.

Teddy Smith · Answer

Something about the idea just seems "off".

85/15 split is OK I guess, but where does that 15% go? What are you actually paying for?

There's plenty of local companies around that would pay the same split, give you SOME infrastructure, and give you a brand name to market yourself. This looks like a start-up that was made by people that have no idea about brokerage.

Just my .02 cents.

Kevin O'Donnell · Answer

Hi Kelli,

I just passed the NJ state exam and I'm looking at Real myself. It seems like a good setup and I really like that it's a forward-thinking, tech-oriented company. Seems perfect for investors (I also have my license in NY and I've spent some time in a few different brokerages that were pretty old school, so Real seems like it could be a nice change of pace). I also like that there are no fees. I think I'm going to give it a go. Surprised that there aren't more postings about this company on BP.

Any review on "Real - Technology Powered Real Estate Brokerage"?

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