The Real Brokerage Inc. (TSXV: REAX) (OTCQX: REAXF), a national, technology-powered real estate brokerage in the United States of America, announced it has filed its financial results for the three and nine months ended September 30, 2020.

Additional information concerning Real's consolidated financial statements and related management's discussion and analysis ("MD&A") for the three and nine months ended September 30, 2020, can be found at www.sedar.com. Unless otherwise stated, all dollar amounts are in thousands of U.S. dollars.

Q3 2020 highlights include:

• Q3 2020 revenue of $3,939 represented a 12% increase compared to Q3 2019 and a 52% increase over Q2 2020 as the housing market recovered in major urban areas where Real is concentrated.
• Gross profit $741 was up 73% compared to Q2 2019 $425.
• On August 12, 2020, Real announced that it closed a non-brokered private placement offering of 1,900,000 common shares of Real at a price of $0.35 per common share for aggregate gross proceeds of $443.
• On August 25, Real announced that Michelle Ressler joined the company's executive team as Vice President of Finance and real estate leaders Sheila Dunagan and Ron Dunagan joined as Vice President of Brokerage Operations and Director of Operations, respectively, with the goal of scaling Real's finance and operations functions. Michelle Ressler was subsequently appointed as chief financial officer (CFO) on October 15.
• On September 21, 2020, Real announced that the TSX Venture Exchange provided final acceptance of the amendments to Real's stock option plan (the "Stock Option Plan") and new restricted share unit plan (the "RSU Plan"). In light of these approvals, Real launched a new agent compensation plan to incentivize real estate agents who contribute to Real's continued growth and success.
• On Oct 6, Real announced expansion to the state of Alaska with the addition of a top Anchorage real estate team and agents.

CEO Comments

"My thoughts and prayers go out to all those who are struggling during this pandemic. While the overall economy is still suffering, it is becoming very clear that the housing market is leading the economic recovery and the amazing recovery in home sales during Q3 is a testament of the resilience of our industry. Over the past few months, we have enjoyed unprecedented attention from high producing teams and agents, all across the country, interested in exploring the possibility of joining Real. We are happy to see a growing number of agents acknowledging the benefits of our offering and technology and are thrilled to continue the growth propelled by our going public transaction as well as our agents equity program. We are extremely bullish in our plans for Q4 and 2021 and are confident about our ability to provide our agents an exceptional experience as well as growing at increasing pace," said Tamir Poleg, co-founder and CEO of Real.

About Real

Real (www.joinreal.com) is a technology-powered real estate brokerage in 21 U.S. states and the District of Columbia. Real is on a mission to make agents' lives better, creating financial opportunities for agents through higher commission splits, best-in-class technology, revenue sharing and equity incentives.