Overview
- Real reported second-quarter revenue of $700.6 million, a 30% year-over-year rise, and adjusted EBITDA of $27.6 million while recording an $8 million net loss driven mainly by $11.6 million in acquisition-related expenses.
- The company said agent count grew 26% year-over-year to 35,348 in Q2 and exceeded 36,000 agents by Aug. 5, with closed transactions of 62,380 and $26.3 billion in transaction volume for the quarter.
- The planned $880 million acquisition of RE/MAX cleared the DOJ Hart-Scott-Rodino waiting period in mid-July and is scheduled for separate shareholder votes on Aug. 14 before an expected close in the second half of 2026.
- Integration planning is underway with an integration management office in place and Real expects about $30 million in cost synergies within three years after closing.
- Real is pressing its technology and ancillary strategy with a beta launch of its Leo 2.0 AI that links to major CRMs and continued growth in Real Wallet, title and mortgage businesses, which together rose 28% year-over-year to $4.2 million in Q2.