Flexibility drives new Real Brokerage affiliation models

Key Takeaways:

– The Real Brokerage has announced two new forms of partnership, Private Label and ProTeams, as alternatives to affiliating with legacy real estate brands.
– The Private Label model gives independent brokerages access to Real’s internal software solutions and its cascading efficiencies while sustaining its existing consumer-facing brand.
– Real’s ProTeams affiliation allows team leaders to intricately manage the financial parameters of agents under their lead, offering custom agreements on caps, splits, and fees.
– The new affiliation plans offer flexibility and innovation not common to most long-standing brokerage brands.
– The Private Label structure was tested in 12 markets over a year, accounting for close to $2 billion in sales volume.
– Real Brokerage is experiencing growth, with 500 more agents coming onboard, tipping it past the 14,000-agent mark in 2024.
– The company’s proprietary software, including its artificial intelligence platform Leo, provides agents with various functionalities such as cap status inquiries and pending revenue forecasts.
– The ProTeams plan is currently available to select teams and will be expanded to teams across Canada and the United States in Q1.
– Real Brokerage’s Chairman and CEO, Tamir Poleg, believes that the new programs will accelerate the company’s growth and provide unparalleled opportunities for independent brokerages and teams to expand their businesses.
– The new partnership programs aim to offer independent brokerages and team leaders the ability to join Real with their existing brand and financial models.

inman:

As part of its ongoing effort to market alternatives to affiliating with legacy real estate brands, publicly traded The Real Brokerage has announced two new forms of partnership, Private Label and ProTeams.

The verdict is in — the old way of doing business is over. Join us at Inman Connect New York Jan. 23-25, when together we’ll conquer today’s market challenges and prepare for tomorrow’s opportunities. Defy the market and bet big on your future.

As part of its ongoing effort to market alternatives to affiliating with legacy real estate brands, publicly traded The Real Brokerage has announced two new forms of partnership, Private Label and ProTeams.

The company announced the new efforts in a Jan. 10 press release, which stated the technology-connected remote office company wants to make it “easier for the nation’s 100,000+ independent brokerages and team leaders to join Real.”

Chairman and CEO of Real Tamir Poleg said in a statement that the company is off to a fast start in 2024, with 500 more agents coming onboard, tipping it past the 14,000-agent mark.

“With the launch of these new programs, we’re set to further accelerate our growth, providing unparalleled opportunities for independent brokerages and teams to expand their businesses with unmatched flexibility and support,” Poleg said.

The Private Label model gives independent brokerages access to Real’s internal software solutions and its cascading efficiencies while sustaining its existing consumer-facing brand.

Most of Real’s software is proprietary, including its artificial intelligence platform Leo, which in part powers a transaction management system that enables a small number of transaction coordinators to handle a large number of deals. The company also has a partnership in place with Lofty.

Real Brokerage CTO Pritesh Damani told Inman Intel in June that he wants to keep the company’s tech stack “short.”

With Leo, agents can inquire about their cap status, when their license expires, the size of their network or generate a pending revenue forecast. Leo was taught to respond concisely, even a bit curtly. But, the idea is to be quick and accurate. “Super key to this is the clarity of the message,” Damani said.

The Private Label structure was tested in 12 markets over a year, Real said, accounting for close to $2 billion in sales volume.

Los Angeles-based luxury broker and frequent Inman Connect speaker Kofi Nartey started under the program in August 2023.

“The Private Label model made the transition easy, as we were able to have a seamless public-facing brand transition while working smoothly behind the scenes to onboard onto the platform,” Nartey said in the release.

Real’s ProTeams affiliation hinges on team leaders’ desire to intricately manage the financial parameters of agents under their lead, offering custom agreements on caps, splits and fees, according to Real. This kind of flexibility allows new teams to maintain what members are accustomed to, avoiding onboarding hassles or agent departures because of brokerage-mandated contracts.

The ProTeams plan is available to select teams and, later in Q1, to teams across Canada and the United States.

Real Brokerage President Sharran Srivatsaa said in a statement that the new affiliation plans were launched with the same mindset as last year’s agent benefits initiatives, to offer flexibility and innovation not common to most long-standing brokerage brands.

“We are kicking off 2024 with a revenue share retirement benefits program for all Real agents and two game-changing programs that give individual brokerage owners and team leaders the ability to join Real with the brand they’ve spent millions of dollars building and the financial models that work best for them,” he said.

Srivatsaa also explains the two new programs in a video statement.

Carolina Sky Real Estate brought its 40-agent dual-state team to Real in December of last year and, in October, the company added 56 agents in northern California.

Poleg and his C-suite, Srivatsaa and Damani, were collectively awarded the 2023 Inman Innovator of the Year Award at Inman Connect Las Vegas.

Email Craig Rowe


Source link

Property Chomp's Take:

The Real Brokerage, a publicly traded company, has recently introduced two new forms of partnership in an effort to market alternatives to affiliating with traditional real estate brands. The new partnership models, called Private Label and ProTeams, aim to make it easier for independent brokerages and team leaders to join Real and benefit from its technology-connected remote office system.

The announcement was made in a press release on January 10th, in which Real's Chairman and CEO, Tamir Poleg, expressed his excitement about the company's growth and the opportunities that the new programs will provide. He stated, "With the launch of these new programs, we're set to further accelerate our growth, providing unparalleled opportunities for independent brokerages and teams to expand their businesses with unmatched flexibility and support."

The Private Label model allows independent brokerages to maintain their existing consumer-facing brand while gaining access to Real's internal software solutions and efficiencies. Real's proprietary software, including its artificial intelligence platform Leo, enables agents to handle a large number of transactions with ease. The Private Label structure was tested in 12 markets and accounted for close to $2 billion in sales volume.

On the other hand, the ProTeams affiliation is designed for team leaders who want to have more control over the financial parameters of their agents. It offers custom agreements on caps, splits, and fees, allowing new teams to maintain their preferred financial models without the hassle of onboarding or agent departures.

Real Brokerage President, Sharran Srivatsaa, emphasized that these new partnership models were launched with the same mindset as the company's previous agent benefits initiatives, aiming to provide flexibility and innovation not commonly found in traditional brokerage brands. He stated, "We are kicking off 2024 with a revenue share retirement benefits program for all Real agents and two game-changing programs that give individual brokerage owners and team leaders the ability to join Real with the brand they've spent millions of dollars building and the financial models that work best for them."

Real Brokerage has been successful in attracting new partners and agents to its platform. Luxury broker Kofi Nartey, who joined the company in August 2023, praised the Private Label model for its seamless brand transition and behind-the-scenes support. Carolina Sky Real Estate, a 40-agent dual-state team, also recently joined Real in December of last year.

The Real Brokerage's commitment to providing innovative partnership models and technological solutions has earned them recognition in the industry. Real's CEO, Tamir Poleg, and his C-suite team were collectively awarded the 2023 Inman Innovator of the Year Award at Inman Connect Las Vegas.

With these new programs, Real Brokerage aims to continue its growth and provide independent brokerages and team leaders with flexible options to expand their businesses. The company's focus on technology and efficiency sets it apart from traditional real estate brands, offering a compelling alternative for those looking for a modern approach to the industry.

Leave a Reply

Your email address will not be published. Required fields are marked *