Highlights include:
- Q4 2020 revenue of
$7,257 representing an 84% increase compared to Q3 2020 revenue of$3,939 and an 83% increase compared to Q4 2019. - The Real network grew to 1,475 agents at the end of Q4 2020, an increase of 47% from 1,001 agents at the end of Q4 2019.
- The value of closed transactions grew to
$273M in Q4 2020, an increase of 110% from$130M in Q4 2019. - In
December 2020 , Real secured a$20 million strategic equity investment fromInsight Partners . - As of
December 31, 2020 , Real held$21,283 in cash and cash equivalents as compared to$53 as ofDecember 31, 2019 , primarily as a result of the$20 million strategic equity investment byInsight Partners . - Real expanded its footprint of licensed states to
Ohio and now offers its real estate brokerage services in 22 states and theDistrict of Columbia .
"Real is offering an entirely new value proposition to agents by using smart technology to reduce complexity and increase flexibility for real estate agents and their clients," said
This information is delivered in advance of Real's audited annual financial statements and related management's discussion and analysis that are expected to be filed on
About Real
Real (www.joinreal.com) is a technology-powered real estate brokerage in 22 U.S. states and the
Contact Information:
For more details, please contact:
lynda@joinreal.com
917-922-7020
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 at the date hereof. Forward-looking information in this press release includes, without limiting the foregoing, Real's preliminary financial results and operating results for the quarter ended
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. 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.
Preliminary Financial Metrics
The preliminary results set forth above are based on an initial review of Real's operating and financial results for the quarter ended
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