A new App, Real allows agents to dispense with brokers in a uber-style move to make them free to function more like their own bosses.
Licensed realtors who sign up for the app get connected to a one-stop platform for work, which enables them to manage appointments, search multi-listing services (MLS), send out online marketing materials and even handle accounting.
Real also provides free leads without referral fee charges.
Real agents working as an independent contractors get a more favorable split when a property sells, 85/15 as opposed to the typical 70/30 arrangement agents have with brokerages.
CEO and founder Tamir Poleg told Patrick Sisson of curbed.com the Real app and network was built to be an open platform for agents, allowing them to work more independently, and on their own time, while still receiving 24-hour support.
“The model is broken,” says Poleg. “We want to give agents the mobile tech they need to grow their own business and work from anywhere. It’s their business, that’s the idea behind Real.”
Real, which Poleg co-founded with a friend in July 2014, automates many of the functions of a brokerage. The company buys and sources leads from resources such as Zillow and Trulia and automatically distributes them to agents based on where they work.
Poleg tells Sisson there is scalability in the system because while real estate is a local business, Real has no local overheads, such as office space.
He says they can cover the cost of acquiring a new agent in three months. Currently licensed in 12 states including Texas, New York, and Florida, the Real app is used by roughly 250 brokers.
After a recent $6 million funding round, Poleg expects to reach nearly 1,000 agents by the end of the year, while adding additional a handful of additional states.
“Potential clients and homebuyers can also use the app to immediately chat with agents, accept leads, and even apply for a mortgage. But that’s not Poleg’s focus right now,” Sisson writes.
Real wants to treat agents as their clients, and market the company to them, which is why he doesn’t see other established apps such as Compass as competition.
“I realized that most other brokers are real estate companies using technologies,” Poleg says. “We’re a technology company within the real estate space.”
Since starting with Real last June, Sisson reports one Atlanta agent Janie Slater has found leads and sales more consistent and the money better.
“It suited me because at this point in my career, I want to be left alone,” she tells Sisson. “I know the ropes. I don’t see a need for the broker model anymore, since the way people shop for homes is changing so fast.”