How Real Broker Became One of the
Fastest-Growing Virtual Brokerages
A dotloop Case Study
5 Fun Facts About this Tech Driven Brokerage
1Average age of a Real Broker agent is 10 years younger than the average for the industry
2Real mobile app completely replaces the office for agents
3Brokerage now has agents spanning 25 states
4Named finalist for Innovative Company of the Year by Inman
5Founded by a group of real estate and tech entrepreneurs
In 2014, a small group of real estate professionals and tech entrepreneurs decided to collaborate on a new kind of real estate brokerage. Rather than starting with a traditional broker’s business model, they began by looking at the real estate transaction from the client’s perspective.
Using a little reverse engineering, they developed the digital tools an agent would need to meet the expectations of consumers in today’s tech-driven marketplace. The net result? Real Broker, one of the fastest-growing virtual brokerages in the country.
Powered by a groundbreaking app that has eliminated the need for a physical office and dotloop for its transaction management, Real Broker is setting the pace as a forward-thinking real estate brokerage in a digital world.
Exceeding Customer Expectations
Real Co-founder and CEO Tamir Poleg and his team felt the traditional model has for years been under-delivering on customer expectations.
Whether buying an airline ticket or ordering a pizza, today’s consumers are able to transact in a mobile-first environment that makes the process simple, transparent and efficient.
The Tech Empowered Agent
After Poleg and his team determined what the ideal customer experience would look like, they set about creating an app that would enable an agent to deliver on that experience.
Using the proprietary app, a Real agent can handle all CRM, create instant CMA reports, search listings, chat with clients, order yard signs — basically do everything they need to make the sale, all without ever opening up a laptop. And working with dotloop, they can complete the transaction quickly and with full compliance.
The Advantages of Being App Driven
A major benefit of running your real estate brokerage on an app, Poleg says, is the full adoption you receive from all of your new agents, particularly in an industry where the vast majority of agents are independent contractors and in many cases not required to use their broker’s technology.
Second, when all agents are on the app, it’s much easier to implement brokerage-wide changes faster than a traditional brokerage when responding to change.
Third, the app enables the brokerage to set meaningful Key Performance Indicators (KPIs) and then assess how to best help agents meet them.
Finally, a virtual brokerage costs much less to run than one with desk space for each agent. Real is able to pass these savings onto their agents in the form of higher splits and no added fees.
Solving the Transaction Challenge
Poleg and his team knew that a major component of a satisfying customer experience would be a transaction process that is simple, efficient and mobile-first.
As they explored how to solve this piece, they had two options:
1. Build their own solution from scratch
2. Search the marketplace to see if a suitable transaction system already existed.
Dotloop provides Real agents with a simple, efficient way to take the deal from contract to close. Because all document creation, editing, signing and tracking takes place within a single platform — and brokers and admins have insight at every stage — dotloop provides Real with seamless compliance.
There was a good cultural fit as well. Poleg says that in dotloop Real found a company that shares their views. They were attracted to dotloop’s simple design, consumer-friendly user experience, ongoing diligence to improve the platform and long-term stability.
Shaping the Future of Real Estate
Real estate is an industry that innovates slowly. Many brokers and agents have built successful careers on doing things the traditional way and so are resistant to change.
But pressure from clients will only continue to transform the industry. Poleg and his team also see a downward pressure on commissions. Customers will increasingly reward those brokerages that are most efficient.
The expansion of Real into 25 states and the year-over-year growth in average agent earnings is proof that Poleg and his team are making good on their mission.