Real Brokerage Agent Survey Reflects Continued Optimism Ahead of Anticipated Industry Changes

The Real Brokerage Inc. (NASDAQ: REAX, “Real”), the fastest-growing, publicly traded real estate brokerage, today announced results from its March 2024 Agent Survey, offering insights into housing market trends and real estate agent expectations across the United States and Canada. The survey reveals continued optimism among agents about future market conditions in both the United States and Canada, despite expectations of a continued year-over-year decline in industry transactions in March. The survey also highlights agent expectations for improved transparency and readiness as the industry prepares to implement practice changes associated with the National Association of Realtors (NAR) recently announced settlement agreement.

“We are grateful for the perspectives of our growing agent base, which has now surpassed the 17,000 milestone,” said Tamir Poleg, Chairman and CEO of Real. “Their opinions and insights are essential in guiding our approach, ensuring we remain thoughtful and agile as we navigate industry shifts together.”

“Embracing change and fostering transparency are cornerstones of our culture,” remarked Sharran Srivatsaa, President of Real. “Our agents' continued resilience and adaptability are critical as we position the Company to capitalize on evolving industry dynamics and emerge even stronger.”

Key Findings:

• Agents Remain Positive About Forward Outlook, Although Optimism Index Ticks Down Sequentially from February Level: Real asked agents at the end of March 2024, “Compared to one month ago, are you more optimistic or pessimistic about the outlook for your primary market over the next 12 months?” Among the agents surveyed, 45% felt more optimistic and an additional 15% felt significantly more optimistic about the next 12 months, outweighing the 13% who felt more pessimistic and 7% who felt significantly more so.

The average response among survey participants resulted in a weighted index reading of 63.3 on a 0-100 scale, with scores above 50 reflecting a positive outlook and those below 50, a negative one, thus signaling an expectation for improving year-over-year growth trends in the year ahead. March’s index level showed a slight decline from February’s 69.2, indicating lower optimism compared to the end of February, primarily due to a decline among U.S. agents, which offset improved optimism among agents surveyed in Canada.