NEW YORK - The Real Brokerage Inc. (NASDAQ: REAX), a rapidly expanding digital real estate brokerage, has announced the acquisition of the Qamar Group, a high-performing real estate team based in the Midwest. The Qamar Group, recognized within the top 1% of teams in Illinois, has joined Real with its 36 agents who operate in Chicago, Michigan, and Wisconsin.
Since its inception in 2019, the Qamar Group has completed sales of over 1,500 homes, totaling around $500 million in value. The team has been honored with the Carly Award by the Chicago Association of Realtors for three consecutive years. Known for a 24/7 client service approach, the Qamar Group also boasts a diverse team capable of serving clients in 11 languages.
CEO Rafay Qamar, who transitioned from a successful banking career to real estate in 2014, leads the team alongside COO Jana Pierce. Qamar's achievements include being named Rookie of the Year and his recent election to the North Shore Barrington Association of Realtors as a Strategic Advisor and Chair of Membership. Pierce, aside from her role as COO, is an active agent and focuses on operations and agent engagement.
Real's President, Sharran Srivatsaa, expressed excitement about the partnership, citing alignment with the company's mission to support agents in enhancing client service and business growth. Qamar echoed this sentiment, highlighting Real's compensation opportunities, technology, and culture as key factors in the decision to join.
Real supports over 17,000 agents across the U.S. and Canada, providing a digital platform and community for agents to manage their businesses. The company aims to simplify real estate transactions by integrating real estate, mortgage, and closing services with advanced technology.
This strategic move is expected to bolster Real's presence in the Midwest and contribute to its network of agents.
The information for this article is based on a press release statement from The Real Brokerage Inc.
InvestingPro Insights
The Real Brokerage Inc.'s (NASDAQ: REAX) recent acquisition of the Qamar Group is a strategic expansion that aligns with the company's growth trajectory and innovative approach to real estate. As the company integrates this high-performing team into its operations, investors and stakeholders may find the following insights from InvestingPro particularly informative.
InvestingPro Data shows that The Real Brokerage Inc. holds an impressive market capitalization of $618.83 million USD, a testament to its solid position in the market. Despite not being profitable over the last twelve months, the company has experienced a substantial revenue growth rate of 80.52% in the same period. This indicates a strong potential for future profitability and justifies the aggressive expansion moves like the acquisition of the Qamar Group.
Moreover, the company's stock has exhibited significant price volatility, as evidenced by a 19.71% drop over the last week, yet it has also seen a 173.77% increase in one-year total return. This could suggest that while the stock may be subject to short-term fluctuations, it has provided strong returns over a longer period.
InvestingPro Tips highlight that The Real Brokerage Inc. trades at a low revenue valuation multiple, which could signal an attractive entry point for investors believing in the company's growth prospects. Additionally, analysts anticipate sales growth in the current year, reinforcing the positive outlook for the company following its latest acquisition.
For those interested in a deeper analysis, there are over 15 additional InvestingPro Tips available, which can be explored at https://www.investing.com/pro/REAX. To access these insights, readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
The Real Brokerage Inc. is positioning itself to capitalize on the evolving digital real estate landscape, and these InvestingPro insights provide a clearer picture of the company's financial health and market potential as it continues to expand its agent network and service offerings.
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