TORONTO and NEW YORK, June 24, 2020 /PRNewswire/ -- The Real Brokerage Inc. (TSXV: REAX) a national, technology-powered real estate brokerage in the U.S., announced that real estate leaders Peter Nobel and Erinn Nobel have joined the company's leadership team as Chief Strategy Officer and Chief Culture Officer, respectively, with the goal of accelerating growth.
The Real Brokerage Inc. is the parent company of Real Technology Broker Ltd. and its US subsidiaries, (collectively "Real"). Founded in 2014, Real is a fast-growing, technology-powered real estate brokerage.
"Tamir and the talented leadership team truly live and breathe the company mission of `making agents' lives better', a mission that personally resonates with us," said Erinn Nobel.
Peter and Erinn bring to Real decades of experience in residential real estate and product development. Most recently, Erinn was the Regional Development Leader for the Pacific Northwest at eXp Realty, and Peter was the Chief Operating Officer of eXp World Holdings, Inc. At eXp, they set the company up for exponential growth by building the enterprise infrastructure and opening markets across the U.S. and Canada. Prior to eXp, Peter held various leadership positions at Microsoft Corp., creating breakthroughs in incorporating customer feedback at various stages throughout the product development cycle.
"Erinn and Peter align with Real's goals in every way," said Real CEO Tamir Poleg. "They bring a wealth of real estate knowledge and experience and a proven track record of building vibrant communities and scaling technology companies. They share Real's mission of always finding ways to make agents' lives better. Above all, their outgoing personalities and passion for helping agents thrive are addictive."
Real's business model and growth have been broadly recognized. Real was named as an Inc. 500 fastest-growing private company in 2019, a Real Trends 500 top brokerage firm in 2020, and a Financial Times Americas' Fastest Growing Companies in 2020.
"Real is the next step in the evolution of virtual brokerage models, putting more tools in the agents' hands to become more productive and creating more financial opportunities for agents through its generous revenue sharing and equity plan," said Peter Nobel.
The Real Brokerage Inc. (the "Company") also announced that, in connection with its graduation to Tier 1 on the TSX Venture Exchange following completion of its Qualifying Transaction (as such term is defined under TSXV Policy 2.4 – Capital Pool Companies), an aggregate of 6,100,000 common shares of Real previously deposited into escrow pursuant to the CPC Escrow Agreement made as of April 19, 2018 between the Company, Computershare Investor Services Inc. and certain founding shareholders of the Company (the "CPC Escrow Agreement") are now eligible for an early escrow release schedule applicable to Tier 1 issuers. Pursuant to this release schedule, 25% of such shares are released from escrow on June 10, 2020, 25% of such shares will be released from escrow on December 19, 2020, 25% of such shares will be released from escrow on June 10, 2021 and 25% of such shares will be released from escrow on December 10, 2021.
Real (www.joinreal.com) was founded in 2014 and its principal business headquarters are in New York. Real is a technology-powered real estate brokerage in 20 US 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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The Real Brokerage Inc.
This press release contains forward-looking information based on current expectations. Statements about the date of trading of the Company's common shares on the TSXV, among others, are forward-looking information. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. The Company assumes no responsibility to update or revise forward looking information to reflect new events or circumstances unless required by law.
SOURCE The Real Brokerage Inc.