Real's Monthly Agent Survey: Agents Forecast a Stronger 2026 and Reflect on Key Learnings from 2025

The Real Brokerage Inc. (NASDAQ:REAX, "Real")), a leading real estate technology platform redefining the industry through innovation and culture, today released its final monthly agent survey analysis for 2025, providing insights into November trends and forward-looking predictions for 2026. The findings underscore an optimistic outlook for market activity next year, while highlighting critical takeaways about agent business operations and industry shifts in 2025.

"Across our November survey, agents are clearly signaling confidence in a stronger housing market in 2026," said Tamir Poleg, Chairman and CEO of Real. "While transaction activity has yet to meaningfully rebound, sentiment remains resilient. Agents are adapting to new market realities, investing in their businesses, and positioning themselves to capitalize on an eventual recovery."

Key Survey Findings: 2026 Market Expectations

Real's November 2025 survey asked agents to look ahead to 2026, revealing widespread expectations for improving transaction volume and continued upward pressure on home prices.

• Strong Majority Anticipate a Rebound in Home Sales Activity: Seventy-eight percent (78%) of agents expect home sale transaction volumes to increase in 2026.
  • Thirty-two percent (32%) expect a 0%-5% increase
  • Thirty-four percent (34%) are predicting 5%-10% increase
  • Twelve percent (12%) believe transactions will increase by greater than 10%
• Most Agents Expect Home Prices to Rise in 2026: Sixty percent (60%) of agents believe home prices will increase next year, continuing affordability challenges.
  • Thirty-three percent (33%) expect an average home price increase between 0% and 2%
  • Twenty-seven percent (27%) expect an increase between 2% and 5%.

Key Survey Findings: November 2025 Market Snapshot

• Agent Optimism Improves Month Over Month: Real's Agent Optimism Index, which measures agents' 12-month forward outlook, rose to 66.6 in November from 64.6 in October, remaining firmly above the 50 threshold that signals a net positive outlook. Sixty-one percent (61%) of agents reported being more optimistic than the prior month, including 16% who said they were significantly more optimistic.
• Transaction Activity Remains Subdued in November: Real's Transaction Growth Index, which tracks home sales activity reported by agents within their local markets, registered at 45.8 in November, a modest decrease from 46.7 in October. While 43% of agents reported fewer transactions compared to November 2024, 28% reported a year-over-year increase, and 30% reported stable activity. (Note: This index reflects agents' perceptions of local market trends and is not indicative of Real's company-specific transaction volume. The index is weighted on a 0-100 point scale, with scores above 50 indicating year-over-year growth and below 50 signaling a decline.)
• Market Power Tilts Toward Buyers: Fifty-four percent (54%) of agents said their local market favors buyers, up from 44% in October. Thirteen percent (13%) said their local markets favored sellers, while another 33% described conditions as balanced.
• Affordability Pressures Intensify: Affordability was cited by 55% of agents as the primary challenge for buyers, up from 42% in October. Economic uncertainty remains the second biggest challenge, cited by 27% of agents, and inventory concerns were cited as the top challenge by 13% of agents.

Key Business Learnings From 2025 Agent Surveys

Survey insights gathered throughout the year highlight how agents have adapted their businesses amid shifting market dynamics and structural industry changes:

• Higher Inventory Reshaping Pricing Strategies and Buyer Negotiation: 52% of agents reported higher housing inventory in 2025. This caused 49% of agents to advise sellers toward a lower initial listing price, while 45% encouraged buyers to negotiate more aggressively.
• Private Listings Remain a Niche Strategy: Private listings continue to play a limited role in the industry, with 65% of agents believing they are appropriate for fewer than 10% of all homes. Overall, 54% of agents do not believe private networks generally benefit clients.
• Smooth Adoption of Buyer Representation Agreements: Over two-thirds of agents (67%) reported little to no difficulty educating clients on written buyer representation requirements, signaling a successful industry transition.
• AI Adoption Accelerates and Delivers Time Savings: The number of agents using AI tools daily rose to 58%, up from approximately 50% last year. The biggest benefit is improved time savings (68%). Agents primarily use AI for marketing/content creation (88%) and client communication (58%).
• Economics Drive Brokerage Decisions: Sixty-four percent (64%) of agents cited economics—including splits, payouts, and revenue share—as the most important factor when choosing a brokerage, followed by company culture and values (55%) and technology and tools (38%).
• Personal Reputation Outweighs Brokerage Brand: Agent success remains overwhelmingly relationship-driven, with 89% of agents citing personal reputation and referrals as the primary driver of business. Meanwhile, 58% said brokerage brand affiliation is irrelevant to clients.
• Agents Operate High-Cost Businesses: Nearly one-third (31%) of agents spent over $20,000 annually on business expenses, excluding brokerage fees and splits. Top spending categories included client gifts and hospitality and assistant or transaction coordinator support. Online and social media advertising delivered the strongest ROI, cited by 26% of agents.
• Strong Demand for Fintech and Cash Flow Solutions: More than 80% of agents indicated that loan solutions, including those offered by Real Wallet Capital, are valuable for managing cash flow, with 32% describing them as "extremely valuable."

A full summary of these results can be found on Real's investor relations website at https://investors.onereal.com/.

About the Survey

The Real Brokerage November 2025 Agent Survey included responses from 400 real estate agents across the United States and Canada and was conducted between November 25, 2025 and December 11, 2025. Responses to questions regarding transaction growth and agent optimism were calibrated on a 0-100 point index scale, with readings above 50 indicating an improving trend, whereas readings below 50 indicate a declining trend. Responses are meant to capture industry-level information and are not meant to serve as an indication of Real's company-specific growth trends. Additionally, given the smaller sample size, there can be greater variability in Canada index results on a month-to-month basis.

About Real

Real (NASDAQ:REAX) is a real estate experience company working to make life's most complex transaction simple. The fast-growing company combines essential real estate, mortgage and closing services with powerful technology to deliver a single seamless end-to-end consumer experience, guided by trusted agents. With a presence in all 50 states throughout the U.S. and Canada, Real supports over 31,000 agents who use its digital brokerage platform and tight-knit professional community to power their own forward-thinking businesses.

Forward-Looking Information

This press release contains forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect", "likely" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. These statements reflect management's current beliefs and are based on information currently available to management as of the date hereof. Forward-looking information in this press release includes, without limiting the foregoing, expectations regarding the residential real estate market in the U.S. and Canada.

Forward-looking information is based on assumptions that may prove to be incorrect, including but not limited to expectations regarding market conditions. Real considers these assumptions to be reasonable in the circumstances. However, forward-looking information is subject to known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements to differ materially from those expressed or implied in the forward-looking information. Important factors that could cause such differences include, but are not limited to, slowdowns in real estate markets and economic and industry downturns, and those risk factors discussed under the heading "Risk Factors" in the Company's Annual Information Form dated March 6, 2025, and "Risks and Uncertainties" in the Company's Quarterly Management's Discussion and Analysis for the period ended September 30, 2025, copies of which are available under the Company's SEDAR+ profile at www.sedarplus.ca. These factors should be carefully considered and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, Real cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and Real assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

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