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TORONTO & NEW YORK - The Real Brokerage Inc. (NASDAQ: REAX), a technology-driven real estate company, announced today that Sharran Srivatsaa will join its Board of Directors, effective June 1, 2025, transitioning from his current role as President. This move is pending the necessary corporate approvals.
Srivatsaa has been noted for his significant impact on the company’s culture and expansion, with CEO Tamir Poleg acknowledging his leadership and vision. As Srivatsaa steps into this new position, he will advocate for Real’s agents, ensuring their success and the company’s continuous innovation remain at the forefront.
In the lead-up to his board tenure, Srivatsaa will collaborate with the Real team to facilitate a smooth transition. He expressed confidence in the leadership team and the company’s direction, affirming his commitment to support Real’s growth and value delivery to stakeholders.
Real maintains its focus on growth and innovation, driven by a leadership team dedicated to the long-term prosperity of its agents. The company operates in the U.S. and Canada, supporting over 26,000 agents with its digital brokerage platform and professional community. InvestingPro data reveals the company maintains strong liquidity with a current ratio of 1.34, though it faces challenges with gross profit margins of 9.07%. Discover 12 more exclusive insights about REAX with an InvestingPro subscription.
This announcement is based on a press release statement from The Real Brokerage Inc. The company cautions that forward-looking information included in the press release is subject to risks and uncertainties that could cause actual results to differ from what has been indicated.
In other recent news, Real Brokerage Inc. reported its fourth-quarter 2024 earnings, revealing a narrower-than-expected loss per share and a significant increase in revenue. The company’s earnings per share (EPS) came in at -$0.03, surpassing the forecast of -$0.05. Revenue reached $351 million, exceeding the anticipated $295.91 million, marking a 93% increase year-over-year. For the full year, Real Brokerage’s revenue grew 84% to $1.3 billion, with a gross profit of $114.7 million, up 82% from the previous year. In terms of growth strategies, the company continues to expand its agent base and fintech offerings, with expectations for further growth in revenue and adjusted EBITDA.
Real Brokerage’s performance has been acknowledged by analysts, with firms like ROTH Capital Partners and William Blair expressing positive feedback on the company’s growth trajectory and agent recruitment strategies. The company is also making strides in its ancillary services, with significant growth in its mortgage and title businesses. Furthermore, Real Brokerage is focusing on scaling its mortgage and title services and investing in compliance, data science, and agent experience, with a particular emphasis on improving the attach rates of these services.
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