Exclusive Programs For Teams & Independent Brokerages Joining REAL.
Real Brokerage Inc. (NASDAQ: REAX) is making headlines again. Already recognized as the fastest-growing publicly traded real estate brokerage in terms of agent growth, is now offering two new programs: Private Label and ProTeams.
These programs will allow independents and teams to integrate seamlessly into the Real ecosystem. “The goal is to provide these entities access to Real's technology, tools, training, and collaborative culture while allowing the independents and teams to maintain their branding and autonomy”.
Real leadership recognizes the real estate industry is changing. Agents need better models, resources, and tools to stay competitive. Sharran, Real Broker, CEO, explains the business rationale behind the Private Label program. "There are roughly 900,000 plus agents within a framework of 100,000 independent brokerages in North America. These independents have built great brands over many years in their marketplace. Due to rising costs and market conditions, independents and teams need ways to leverage their time and scale their business." Identifying and filling this need is at the heart of the Real Broker’s Private Label and ProTeams programs.
Real President Sharran Srivatsaa emphasized the platform's commitment to offering a multitude of possibilities for independents and teams. The focus is on providing a robust platform that empowers these professionals to serve their clients effectively. The goal is to support and build sustainable wealth. “These programs will change the way many forward-thinking independent brokers and teams do business”.
REAL’s Private Label and ProTeam Explained
As an agent-centric and technology-based company, streamlining processes and providing actionable tools and education are a few benefits afforded to Real agents.
With the launch of the Private Label and ProTeams programs, both teams and independent brokerages can customize their financial models. This customization goes all the way down to a per-agent basis from a single dashboard.
Real President Sharran Srivatsaa states, "There are a lot of headwinds right now in the real estate industry. Independents are thinking about why they should continue being independent." Sharran further states, "Independents want something special; a way to have their cake and eat it too." Through Real's Private Label program, independents can keep their brand. They can scale their business, maintain their current fee structure, and participate in various income streams.
ProTeams Explained
REAL’s ProTeams programs offer team leaders flexibility with their team business model and the splits, caps, and fees they charge to their agents. For example, you could charge some of your agents a commission structure and other agents a different commission structure.
You can also combine your team splits and fees with REAL’s to simplify the structure for your team members. So instead of telling your team, they have to pay one split with you and one split with REAL. You can just combine them into one easy-to-calculate % split with your team members.
Private Label Explained
REAL’s Private Label program allows independent brokerages to utilize REAL’s platform, training, community, and streams of income while keeping their brand and business model intact. With the private label program, brokerages can continue to operate with their own brand and are not required to include their association with REAL in their marketing at all, if allowed in their state. When writing contracts, Private Label brokerages can even write contracts in their own name, not REAL’s.
What States Is Private Lable Available In?
Ultimately, Private Lable should be available in all 50 states & DC and is currently rolling out right now. As of the writing of this article, Private Lable is available in the following states:
California
Georgia
Massachusetts
Maryland
Michigan
North Carolina
Texas
Virginia
Washington
Alabama
Indiana
Missouri
Montana
Nebraska
New Jersey
New Mexico
North Dakota
Oklahoma
Oregon
South Dakota
You can see an updated list from REAL here.
The Benefits of Private Label & ProTeams
The Private Label and Proteams programs create an environment for exponential growth with the ability to cross state lines. Real President Sharran Srivatsaa shares that " Private Label independents and teams can operate across state lines as long as the agents are licensed in each of the states they are operating. This is possible because Real is licensed in all 50 states and several key provinces in Canada." Sharran further explains, "You can have agents licensed in multiple states and work across state lines with only one cap per agent." Real doesn't require separate caps per state, which is huge!
Highlights of the programs:
Keep Your Brand
A powerful aspect of the Private Label program is independent brokerages can keep the brand that they have worked so long and hard to build. They don’t even have to advertise that they are with REAL in their marketing if their state allows for this.
Keep Your Business Model
The solution is flexible in the business model regarding splits, caps, and fees that can be configured on a per-agent basis with reporting and reconciliation down to the commission disbursement authorization.
Ownership
As a publicly traded company, Real offers various programs that allow agents to gain ownership. These include stock options, capping, production, attraction awards, and stock purchase plans.
Real's 8 Streams Of Income
The days of being a transactional agent are over. Real creates an environment where agents can build a business and generate passive income streams through commissions, team building, teaching, and revenue sharing.
Collaboration & Partnerships
Real's network-centric ecosystem creates an environment of collaboration, partnerships, and referrals across several outlets, such as Workplace, mentoring, coaching, and training.
The Culture
Real is well-known for its tight-knit community, rooted in the ethos of "Work Hard. Be Kind." This philosophy is at the core of everything Real does. Real fosters an environment where the unique micro-cultures of joining teams and brokerages are embraced, promoting collaboration over competition and synergy over isolation.
Easy Transition
Real, a brokerage known for its forward-thinking approach, is committed to refining operations. With our Private Label program, independent brokerages can effortlessly transfer their brands. Real's exceptional onboarding team is dedicated to swiftly familiarizing agents with Real's platform and reducing downtime.
REAL Broker Private Label Case Study
After testing the Private Label structure in 12 markets over 12 months, accounting for close to $2 billion in sales, Real is ready to bring these two exciting programs to agents in the U.S. and Canada.
Case studies of successful partnerships include major independents like Las Angeles-based luxury broker Kofi Nartey. Nartey partnered with Real under the program in August of 2023.
Nartey states in a press release, "Being able to maintain our existing brand and get all the benefits of a tech-forward brokerage partner was a game changer,” Nartey further states, “We spent the previous three years launching our brand and building brand awareness. Real understood the value of what we had built with Global RED and wanted to support our continued growth. 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. This allowed me and my team to keep our focus on our business and our clients.”
In summary, Real leadership recognizes that many independents and teams build businesses and create brands that they would like to leave as a legacy for their children. Supporting this work is essential and addressing the biggest concerns for independents and teams is at the core of Real's Private Label and Proteam programs.
Q&A
Who is eligible for REAL Broker’s ProTeams?
REAL’s ProTeams model is availabel to agents across the US and parts of Canada. As of today, REAL is onboarding select teams into this model and expects this program to be fully availabel to everyone by Q2 2024.
Who is eligible for REAL’s Private Label program?
Currently, the Private Label program is available for new independent brokerage joining REAL. There is an application process where they will review a number of factors including production volume, tenure of the independent brokerage, E&O claims, and other regulatory and state factors.
For prior independent brokerages that have already joined REAL, the Private Label program is not currently available but they are rolling it out in phases and will be made availabel in the future.
Can Private Label teams take advantage of REAL’s stock and revenue share program?
Yes, in the Private Label program, you will get full access to all the benefits REAL Broker offers its agents including our stock program, revenue share program, training, and technology.
Can Private Label teams operate across state lines?
Yes, as a Private Label team, you can operate across state lines as long as your agents are licensed in those states. All your agents will still only have 1 cap with REAL regardless of what state they close their transaction in.
Do I have to continue to be the broker with Priavet Label?
Nope. Real will take over the broker’s responsibility of reviewing all contracts and putting out fires so you can focus on managing and growing your team.
