Honest REAL Broker Review (30 Days In)
After being an agent at REAL Broker for over a month and closing multiple transactions, I want to share my honest opinion about my experience. While some aspects of the company could use improvement, other facets have far exceeded my expectations, and I am very pleased with them.
As a real estate agent, choosing the right platform to support your business is crucial. With so many options available, it can be overwhelming to decide which one is best for you. In this honest review, we'll take a closer look at REAL Broker, a popular platform for real estate agents. We'll explore its features, benefits, and drawbacks to help you make an informed decision.
REAL Broker Onboarding Review
Let's start with the onboarding process, which involves learning the different software and adjusting to REAL Broker. This is one area where I believe REAL Broker could improve. I felt a bit lost and confused on my first day as a REAL agent. Although they send an initial welcome email with links to the first steps, it doesn't cover everything, and additional emails with necessary links can be a bit scattered.
There are live onboarding video calls multiple times a week to guide new agents through the initial steps, but I never received a link to these calls. Within the REAL Academy, there are training videos on how to use the various software, which I found helpful once I figured out how to access them. However, many of these training sessions are recordings of live streams, which I personally don't prefer. For example, an hour-long training on contract submission could be more concise.
Fortunately, I relied on agents in my upline to help me navigate the first few days. REAL also has an in-depth FAQ section in their app and a live support chat, which I used frequently. My frustrations with the onboarding process inspired me to write an article titled "10 Biggest Benefits to Teams Joining REAL Broker" to help new agents adjust.
While REAL's training and resources are decent, they feel somewhat disjointed. I would love to see a single comprehensive video or article covering everything new agents need to know. As a growing company, I expect REAL to smooth out these wrinkles in the future.
REAL Broker Technology Review
The technology at REAL Broker is one area that exceeded my expectations. The software provided is one of their biggest selling points. Coming from Keller Williams Realty, which developed all their software in-house, I found REAL Broker's decision to use off-the-shelf software advantageous. These programs generally run more smoothly, have fewer bugs, and offer better tech support.
Skyslope is the program used to submit contracts for compliance. Initially, it seemed bland, but I now appreciate its simplicity and efficiency. You can upload your entire contract as one PDF and specify which pages correspond to each required document. This feature saves time compared to uploading each document separately. Overall, I am very happy with Skyslope.
Workplace, created by Facebook, is a series of business-specific Facebook Groups. While I don't use it as much as I should, it’s a great way to network and collaborate with other REAL agents. Each state has its own group for state-specific questions. Workplace also hosts the REAL Academy, where live training sessions and archived training videos are available.
The REAL Broker agent app, possibly developed or heavily customized by REAL, is one of my favorite pieces of technology. It tracks all your numbers and stats and clearly displays them on the first page. It shows your current contracts, projected earnings, monthly and yearly stats, cap progress, stock earnings, and revenue share. The app also provides easy access to support, broker contact information, FAQs, and live chat.
REAL does have a consumer app, but it’s not as impressive. However, I love the agent app.
📌 No Physical Office
Not having a physical office has not impacted my business negatively. In 2020, I rarely went to the office, as training was streamed online, and checks were mailed directly. I still conduct buyer consultations via Zoom and meet clients at coffee shops, lenders' offices, or title companies. Working from home saves me significant time and money. I used to pay $28,000 a year to Keller Williams plus $6,000 for office rent. Now, with a $12,000 cap and no office rent, I save $22,000 a year.
📌 REAL Broker Fees
REAL Broker’s low fees are a major draw. They have a $12,000 cap, no monthly fees, and they cover E&O insurance. I found no hidden fees or upsells. Chime is optional and available at a reduced rate. The advertised fee structure is transparent and beneficial.
📌 REAL Broker Revenue Share Review
REAL Broker offers an additional income stream through revenue share, similar to Keller Williams and eXp Realty but with higher payouts for Tier 1 agents. REAL rewards agents for attracting new agents with a portion of the cap they pay. This creates an additional income stream and incentivizes upline agents to help their downline succeed.
📌 REAL Broker Culture Review
The culture at REAL Broker is positive and collaborative. REAL attracts tech-focused agents and experts in video marketing, social media, and digital marketing. The revenue share and stock ownership incentives encourage agents to help each other succeed, fostering a supportive community.
📌 Final REAL Broker Review
One of my friends said, "REAL is not the best real estate company out there, but they are going to become the best company out there." I agree. While REAL is relatively small with a few areas needing improvement, it has a strong foundation. The technology, stock bonuses, and revenue share models are excellent and incentivize positive behavior. Over the next 10 years, I believe cloud-based brokerages like REAL will become the industry standard, and franchise-based brokerages will struggle to keep up. Being an agent at REAL feels like being part of a positive cultural revolution in the industry. My only regret is not joining sooner.
📌Features and Benefits of Real Broker
Real Broker offers a range of features and benefits that make it an attractive option for real estate agents. Some of the key features include:
Lead Management: Real Broker's lead management system allows you to track and manage leads from multiple sources, including your website, social media, and online advertising.
Transaction Management: The platform's transaction management system streamlines the transaction process, from contract to close.
Marketing Tools: Real Broker offers a range of marketing tools, including email marketing, social media integration, and customizable templates.
Commission Tracking: The platform's commission tracking system makes it easy to track and manage your commissions.
According to a study by the National Association of Realtors (NAR), 92% of real estate agents use technology to manage their business, and Real Broker's features and benefits align with this trend.
📌 Drawbacks and Limitations of Real Broker
While Real Broker offers many benefits, there are some drawbacks and limitations to consider. Some of the key drawbacks include:
Steep Learning Curve: Real Broker's platform can be complex, and some users may find it difficult to navigate.
Limited Customization: While Real Broker offers some customization options, some users may find the platform's design and layout limiting.
Integration Issues: Some users have reported issues with integrating Real Broker with other tools and systems.
📌 Is REAL Broker Right for You?
REAL Broker is a solid choice for real estate agents who want to streamline their business operations and improve their productivity. However, it may not be the best fit for everyone. If you're looking for a platform with more customization options or a simpler user interface, you may want to consider other options.
REAL Broker is a popular platform for real estate agents, offering a range of features and benefits that can help you manage your business more efficiently. While it's not perfect, and there are some drawbacks to consider, Real Broker is a solid choice for agents who want to stay ahead of the competition.
Real Broker. (2022). About Us.
National Association of Realtors. (2022). 2022 Real Estate Technology Report.
