Magma Venture Partners led a $6 million Series A funding round for Real, a technology-powered real estate brokerage based in New York. Real currently operates in seven states and Washington, DC.
New York, February 22, 2016 – Real (http://www.joinreal.com/), a new, technology-powered real estate brokerage, announced today it has secured a $6 million Series A funding round led by Magma Venture Partners. The company also announced that its technology brokerage platform has now emerged from beta after a year of development and testing.
“As experienced real estate professionals ourselves, we have always felt that the traditional brokerage model is outdated and that agents, as small business owners, should be receiving greater value” said Tamir Poleg, CEO and founder of Real. “The new round of funding will help us accelerate the expansion of our team and business, and continue to help agents grow their business, ultimately providing better service and results to buyers and focus on creating a better experience for everyone.”
Real is a real estate broker that offers agents the technological means to alter the traditional broker/agent dynamic. Instead of being associated with a physical office, agents who associate with Real become business people on-the-go, as all of the tools they need are accessible through Real’s mobile app. Through its services, Real offers agents more freedom and flexibility than traditional brokers have, empowering them to better balance their business and personal lives.
“As a new generation of buyers and sellers enter the market, we cannot underestimate technology’s impact on the way people work, communicate and transact when it comes to real estate,” continued Poleg. “There is a growing need for redesigning the agent/broker relationship in a way that will benefit agents and consumers, a concept that is at the heart of Real.”
Real plans to use the new round of funding to aggressively grow marketing efforts, invest in product development and R&D, expand its licenses to more states in the United States and raise awareness of its technology offering to attract more real estate agents throughout the country.
Real is currently operating in New York, Pennsylvania, Washington D.C., Texas, Georgia, Colorado, Virginia and Florida, with access service in additional states coming in the near future. Agents in states where Real is available enjoy an 85/15% split with Real (compared to the industry average 70/30% split from traditional brokers), free leads, technology tools and 24/7 support. Real agents work exclusively with the company, which so far numbers 270 during the recent beta period.
Real is a new, technology-powered real estate brokerage. Created by a real estate professionals and software engineers, the company is on a mission to empower agents via technology by shunning the traditional brokerage model. Real aims to provide better results and better service than the traditional broker/agent relationship, ensuring that its clients and listings enjoy the competitive edge created by Real’s superior technology and the tools used by its agents.