The Real Brokerage Inc. announced its financial results for the fourth quarter and full year 2024. Revenue for the full year 2024 was $1.26 billion, an increase of 84% from $689.2 million for the full year 2023. Total real estate transactions in 2024 reached $49 billion, a 90% increase from $25.9 billion in 2023, with 120,601 transactions closed. Fourth quarter transactions saw a 115% increase to $14.6 billion, with 35,370 transactions closed. The total number of agents on the platform increased 77% year-over-year to 24,140 in 2024.
Gross profit for the company reached $30 million in Q4 2024 with a net loss of $6.6 million in Q4 2024, compared to a net loss of $12 million in Q4 2023. Adjusted EBITDA in Q4 was $9.1 million, compared to $8.5 million in Q4 2023. Excluding the positive impact from a $6.2 million non-recurring stock-based compensation balance sheet adjustment during Q4 2023, the comparable adjusted EBITDA during that quarter was $2.3 million.
Gross profit for full-year 2024 was $114.7 million, an 82% increase from 2023. Net loss was $26.5 million, a slight improvement from a loss of $27.5 million in 2023.
“Our strong fourth quarter and record full-year results reflect the power of our platform and our disciplined approach to growth,” said Michelle Ressler, Real Chief Financial Officer. “With our recent fee model changes now established, we’re ensuring we can continue investing in cutting-edge technology and agent support, while driving sustainable year-over-year improvements in our operating and financial performance.”
The company’s strategy to integrate fintech solutions into its platform, beginning with Real Wallet checking accounts, gained traction as 2,500 Real agents utilized the offering. The average deposit balance in these checking accounts was approximately $7 million.
“Real delivered record results in 2024, capping it off with another quarter of exceptional growth,” said Tamir Poleg, Real Chairman and Chief Executive Officer. “Our unwavering commitment to innovation and agent success continues to set us apart in the industry. From launching Real Wallet, our proprietary fintech platform, to rolling out AI-powered tools that enhance agent productivity, we’re building the future of real estate.”
