The REAL Wallet & Credit Card Explained
A Sneak Peek into the Future of Real Estate Brokerages
In the intersection of technology and real estate, a groundbreaking innovation is emerging, poised to transform the dynamics between brokerages and real estate agents. At Rise, the annual conference by REAL Broker, several disruptive announcements were made, including a significant fintech initiative: the REAL Wallet, REAL Debit Card, and REAL Credit Card. This visionary project, led by Tamir Poleg, CEO and co-founder of REAL Broker, is set to revolutionize the industry.
The REAL Wallet
At REAL Broker agents have multiple income streams, not just commissions. They get revenue share, stock awards and joint venture quarterly payouts. Soon all these income streams will flow into the agent’s REAL Wallet.
The REAL Wallet is an interactive platform to manage these assets. Agents can transfer funds to their bank accounts or use the REAL Debit Card. While funds are in the REAL Wallet they earn interest, benefiting the agent and the brokerage.
The REAL Debit Card
Funds in the REAL Wallet can be transferred to a bank account or spent directly using the REAL Debit Card. Transactions made with this card earn points which can offset transaction fees, caps and other costs at REAL. Tamir mentioned during his presentation that agents might be able to earn enough points to completely offset all commission splits and fees they pay to REAL annually. This makes REAL even more affordable and solidifies its position as one of the most cost effective brokerages.
The REAL Credit Card
The REAL Credit Card is designed to give agents financial flexibility. It allows agents to access capital based on past transactions, equity in REAL, revenue share, joint venture income and other financials within the company. REAL uses these assets as collateral to lend to agents so they can invest in their real estate business.
REAL has three types of credit cards: one for agents, one for Elite Agents, and one for teams. This tiered system gives agents more reason to join teams as team members get access to the team’s credit card for certain expenses.
A Cushion for Uncertain Times
Access to capital through the REAL Credit Card is key during uncertain market conditions, giving agents financial stability during tough times. This cushion is priceless during recessions, interest rate hikes, market crashes, pandemics and other macro economic challenges. The REAL Credit Card allows agents to weather short term financial storms so they can stay in the business.
An Absolute Game Changer for the Real Estate Industry
The REAL Wallet, Debit Card and Credit Card is going to change the industry standards, a more supportive, more rewarding and agent centric brokerage model. This is good for agents and the brokerage, an extra income stream for REAL. This shows the leadership, technology and commitment of REAL to change the relationship between agents and brokerages.
