News Release Details

Inc. 5000-ranked independent brokerage brings 150 agents and $2 billion in career home sales; Real now exceeds 23,000 agents

TORONTO & NEW YORK--(BUSINESS WIRE)--Dec. 4, 2024-- The Real Brokerage Inc. (NASDAQ: REAX), a technology platform reshaping real estate for agents, home buyers and sellers, today announced that ROVI Homes, led by industry veteran Steve Rovithis, has joined Real. The addition brings 150 agents, strengthening Real’s presence in New England and along Florida’s Southwest Coast. Real’s agent base now exceeds 23,000.

After seven years as a brokerage franchise owner, Rovithis founded ROVI Homes in 2015 to provide agents and their clients with an alternative to traditional franchise models. Under his leadership, the independent brokerage has grown from just three agents to 150, closing more than $2 billion in home sales. The brokerage earned a place on the Inc. 5000 list of fastest-growing privately owned businesses in 2020 and 2021.

“Since our founding, we’ve been focused on creating a culture that supports our agents and provides the technology and training they need to succeed. This will become even more important as the industry evolves, and we believe that Real is doing it all better than anyone,” Rovithis said. “Real’s culture, technology platform, comprehensive training program and commitment to ensuring that agents have long-term wealth building opportunities completely aligns with who we are and what we’ve built.”

Beyond its agent-first philosophy, ROVI Homes has earned a reputation as a pioneer in adopting innovative solutions that later become best practices across the New England real market. These include high-end property marketing and specialty agent services such as listing and the transaction coordinator roles. Underscoring its commitment to the western Massachusetts, Connecticut, Rhode Island and Sarasota, Fla., markets it serves, ROVI Homes has made a charitable donation to a local organization for each of the more than 7,500 transactions it has closed over the past decade.

“ROVI Homes represents everything we value at Real—an innovative approach, an outstanding track record and a collaborative culture. Steve and his team are exactly the kind of professionals we want on our team as we continue to grow,” said Real President Sharran Srivatsaa. “With ROVI Homes now part of Real’s innovative ecosystem, we’re set to elevate the industry standard and create unmatched opportunities for agents and clients alike.”

About Real
Real (NASDAQ: REAX) is a real estate experience company working to make life’s most complex transaction simple. The fast-growing company combines essential real estate, mortgage and closing services with powerful technology to deliver a single seamless end-to-end consumer experience, guided by trusted agents. With a presence throughout the U.S. and Canada, Real supports more than 23,000 agents who use its digital brokerage platform and tight-knit professional community to power their own forward-thinking businesses.

Forward-Looking Information
This press release contains forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information is often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “likely” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. These statements reflect management’s current beliefs and are based on information currently available to management as of the date hereof. Forward-looking information in this press release includes, without limiting the foregoing, expectations regarding Real’s ability to continue to attract agents.

Forward-looking information is based on assumptions that may prove to be incorrect, including but not limited to Real’s business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. Real considers these assumptions to be reasonable in the circumstances. However, forward-looking information is subject to known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements to differ materially from those expressed or implied in the forward-looking information. Important factors that could cause such differences include, but are not limited to, slowdowns in real estate markets, economic and industry downturns, Real’s ability to attract new agents and retain current agents and those risk factors discussed under the heading “Risk Factors'' in the Company’s Annual Information Form dated March 14, 2024, a copy of which is available under the Company’s SEDAR+ profile at www.sedarplus.ca. These factors should be carefully considered and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, Real cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and Real assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241204860083/en/

Investor inquiries, please contact:
Ravi Jani
Vice President, Investor Relations and Financial Planning & Analysis
investors@therealbrokerage.com
908.280.2515

For media inquiries, please contact:
Elisabeth Warrick
Senior Director, Marketing, Communications & Brand
elisabeth@therealbrokerage.com
201.564.4221

Source: The Real Brokerage Inc.