The Real Brokerage Inc. (NASDAQ:REAX) Q2 2022 Earnings Conference Call August 11, 2022 11:00 AM ET

Company Participants

Jason Lee - Investor Relations

Tamir Poleg - Chairman and Chief Executive Officer

Michelle Ressler - Chief Financial Officer

Conference Call Participants

Darren Aftahi - ROTH Capital Partners

Tom White - D.A. Davidson

Operator

Good morning, ladies and gentlemen and welcome to The Real Brokerage Second Quarter Earnings Call. [Operator Instructions] It is now my pleasure to turn the floor over to your host, Jason Lee. Sir, the floor is yours.

Jason Lee

Good morning, everyone and thank you for joining us today for Real’s second quarter 2022 earnings call. With me on the call today are Tamir Poleg, our Chairman and Chief Executive Officer and Michelle Ressler, our Chief Financial Officer. This morning, Real filed its financial results as well as its management’s discussion and analysis for the second quarter ended in June 30, 2022 on SEDAR and EDGAR. These documents along with the accompanying press release can be found on both SEDAR and EDGAR.

Before I turn the call over to Tamir, I would like to remind everyone that the company may make statements about its future results and other forward-looking statements during this call. Our actual results may differ materially from these forward-looking statements and the risk factors that could cause these differences are detailed in our Canadian continuous disclosure documents and SEC reports. Real disclaims any intent or obligation to update these forward-looking statements except as expressly required by law.

Now with that, I would like to turn the call over to Chairman and Chief Executive Officer, Tamir Poleg. Tamir, please proceed.

Tamir Poleg

Thanks, Jason and thank you to everyone, joining the call today, including many listeners from our community of agents. We are excited by the progress we have made over the quarter, which is highlighted by continued rapid agent growth. We consider this a testament to the strong value proposition that we offer, which we believe is particularly attractive in more challenging macroeconomic environment as agents look for platforms that will allow them to be more productive.

With 129% agent growth year-over-year in Q2 to just over 5,600 agents, we believe we are still continuing to see incredibly strong market share penetration despite current economic headwinds. However, we remain alert and cautious and are continuing to monitor movements in the mortgage rates, among other key economic factors, which have resulted in recent sharp decline in home sale transaction volumes in the market. Given the economic uncertainty, we are focused on strategic execution while navigating the current environment.