The Real Brokerage, an up-and-coming player on the home mortgage market, posted a net loss for the second quarter of 2023. Despite this, the Company’s revenues surged when compared to the same period the previous year. The Real Brokerage had booked $3.97 million in losses for the period, though it was nonetheless able to leverage its strong market presence to grow revenue by a considerable amount.
The report issued by The Real Brokerage noted impressive increases in certain core business metrics, including large hikes in mortgage origination and sales. Additionally, the Company saw their servicing portfolio and servicing income grow, reflecting a steady trend of increasing home prices and a healthy mortgage market overall. With results like these, and with new opportunities such as the launch of its digital lending platform, The Real Brokerage is well-positioned to continue its climb in the coming months and quarters.
Key Points:
– The Real Brokerage posted a $3.97 million net loss for the second quarter of 2023
– Revenues surged when compared to the same period the previous year
– Increase in mortgage origination and sales, servicing portfolio, and servicing income
– Launch of digital lending platform set to create further growth opportunities
You can read this full article at: https://www.housingwire.com/articles/the-real-brokerage-posts-4m-loss-in-q2-as-agent-count-swells/(subscription required)
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