R
eal Brokerage is poised to revolutionize the industry with its innovative financial product, Real Wallet. This game-changing tool has been gaining traction since its introduction last November and is set to receive a major boost in features, including a rewards program that will help offset brokerage fees. According to Pritesh Damani, Chief Technology Officer at Real Brokerage, the company's focus on embedded finance has enabled it to offer agents a unique business line of credit or cash advance based on their assets and production.

    Real Wallet's debit card, linked to agents' commission and revenue share earnings, allows them to access their funds on the same day as closing. The company's banking partner for this service is Thread Bank. While regulatory limitations restrict Real from extending business lines of credit to U.S. agents, those in Canada can qualify for up to hundreds of thousands of dollars.

    The convenience factor is a major draw for both agents and the brokerage. By keeping assets on Real's books, the company benefits from reduced risk while providing agents with an incentive to use the service – something that sets it apart from other consumer debit cards or apps. Damani describes the rollout as "the most successful launch and the fastest adopted product we've done at Real," with a rewards points system set to launch before the end of March.

    This program will reward agents for transaction activity and debit card usage, allowing them to redeem points for fee offsets at Real Brokerage. The ultimate goal is to make it financially advantageous for agents to use Real Wallet exclusively, effectively making brokerage fees free.