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Real Brokerage will be doing its part to improve the work environment for its thousands of agents in the United States by providing access to health benefits through a group purchasing plan, according to an Oct. 6 press release sent to Inman.
The company said in the announcement that it will be working with Global Benefits Partners in the U.S. “to help its affiliated agents gain access to a wide range of healthcare benefits.”
The company will do the same for its agents in Canada, working with Sterling Capital Brokers to facilitate services.
Healthcare benefits do not come easy for real estate brokerages, which largely rely on the industry’s independent contractor model to avoid pricey commitments to revenue producers’ well-being. Real’s partnerships will allow its agents to leverage group purchasing power for health plans.
“Gaining access to affordable, quality healthcare plans to protect themselves and their families has been one of our agents’ top concerns and one of our key priorities,” Real Chairman and Chief Executive Officer Tamir Poleg said in a statement. “We are excited to provide access to resources that give our agents across the U.S. and Canada the ability to not only have more choices when it comes to obtaining healthcare coverage but the expertise of consultants who can help them make informed decisions.”
Agents under the Real brand can contact Global Benefits Partners to choose suitable plans across medical, dental and vision providers. They can also select from term life insurance plans, disability and other voluntary benefits at group rates to save up to 35 percent, depending on the plans and coverage they select, according to the release.
Poleg, along with Chief Technology Officer Pritesh Damani and President Sharran Srivatsaa, were collectively awarded Inman’s 2023 Innovator Award at Inman Connect Las Vegas in August, given “for their roles in guiding the company through choppy economic waters this year.”
Real is also recognized for its growth in the remote, or “virtual” brokerage” category — that is, real estate brands that forgo physical offices and traditional “butts-in-seats” models for regionally remote teams. EXp has been the most referred-to brand in this space, but Real has made big strides, thanks in part to Damani’s technology guidance and Srivatsaa’s acumen in scaling.
About the award, Poleg said his company proves the value of a low-fee virtual brokerage, and he looks forward to growing the brand’s tech footprint with supercharged agent and consumer-facing applications.
The company’s move to increase fees for agents in March of this year on the heels of a $20 million loss in 2022 was unforeseen but can be argued as a natural evolution of any growing firm, especially during such a nuanced, opaque market.
Its pace of growth and agent-centric goals to assist in healthcare planning also help explain the $100 agent fee increase. Also, throughout 2023, Real has enhanced its revenue-sharing program by making more agents eligible for the program and introducing industry-first co-sponsorship and williable revenue-sharing programs, according to the release.
The company’s technology efforts are a differentiator, too.
Damani has been given the reigns to build out a number of technology solutions, as well as drive its partnership with CRM and marketing solutions provider, Chime.
In a June Inman report, the CTO said that artificial intelligence is “extremely useless without proprietary data,” a reference to his development of an internal AI system named Leo that helps agents with an array of critical company projects and individual business tasks.
With Leo, agents can inquire about their cap status, when their license expires, the size of their network or a pending revenue forecast. Leo was taught to respond concisely, even a bit curtly. But, the idea is to be quick and accurate. “Super key to this is the clarity of the message,” Damani told Inman.
Real began operating in Vermont this fall, according to an announcement on its website. The company is now helping buyers and sellers in 49 states, Washington, D.C., and in four Canadian provinces.
