REAL Broker rolls out their new rewards program in their financial platform, Real Wallet, that lets agents track points earned through their debit and tax-planning accounts.
This is the first of two major rollouts for the REAL Wallet; the next major one planned will allow those points to be used to reduce fees, splits, and other costs by agents to the company.
The update represents a further REALs goal to lower the cost of brokerage services for agents and add additional streams of income for the business. Here’s what is changing — and what it means for agents.
What’s New
Agents can now see how many Rewards points they have built up via the Real Wallet dashboard.
Soon, those points can be redeemed to offset brokerage transaction fees and commission splits. Points values range from $1 of savings to $2.50 of savings on fees, depending on what tier you are in.
How do you unlock a higher status?
- You unlock higher tiers by accumulating points. Once you hit the threshold for the next status, you lock in those higher redemption values for the next 12 months.
How do you earn points in the REAL Wallet?
Points earned by using the REAL debit card, line of credit or tax savings account are
The Rewards accrue from two actions:
Balance-based rewards: 0.5 points per $1 of monthly average balance in the Real Wallet Business Checking and Tax Planning accounts.
Spending-based rewards: 2.5 points per $1 spent using the Real Wallet Business Debit Card. Learn more
As agents accumulate more points, they can climb status tiers (statuses), which make their points more “valuable.”
- REAL Agents have been accumulating points since the launch of the REAL Wallet, but now have the ability to track them and later this year the ability to spend them.
What can you spend REAL Wallet Points On?
- At launch, there are going to be 6 ways you can spend your points to save money.
- REAL Split
- Brokerage Fee
- Personal Deal Fee
- CBR Fee
- Post Cap Transaction Fee
- Post Elite Agent Fee
Why It Matters
For agents operating under REAL’s business model, this change offers several potential benefits:
Offsetting costs: Brokerage splits, transaction fees, and other costs often add up. Being able to reduce those via rewards can improve net income.
Aligning usage with reward: Agents who use the debit card and tax savings account more actively will benefit more, encouraging behavior that REAL likely values (e.g. keeping balances, using the card, consolidating financial activity into Real Wallet).
More transparency: Being able to see rewards accumulated provides clarity. Agents can plan ahead and understand the impact on fees and splits.
What’s Next For REAL Wallet
The ability to redeem points is not yet live but planned to be rolled out later this year.
REAL Line of Credit in the US is also planned to be rolled out in the near future. Lines of credit are already available to Canadian agents and are based on things like your production, stocks owned and monthly revenue share.
Bottom Line
REAL’s Real Wallet Rewards is the next step for the company’s vision to provide its agents with more financial tools and find creative, new ways to make the brokerage service more affordable for agents. The average agent should be able to save thousands a year in fees to REAL simply by using REALs debit or tax savings accounts.
