The Real Brokerage added more than 2,000 new agents in the third quarter while revenue rose to $372.5 million, according to quarterly earnings Thursday. The company posted a net loss of $2.5 million.
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Revenue, closed transaction volume and net income fell in Q3, earnings data on Thursday shows. But a strong luxury push and October uptick in buyer activity have set the stage for a robust Q4.
Home affordability improved as mortgage rates dipped, bringing the monthly mortgage payment on a typical single-family home with a 20 percent down payment to $2,137 — a 5.5 percent decrease from Q2, though still up 2.4 percent year over year.
In advance of his retirement from the firm, Lorber allegedly underwent a five-hour-long internal inquiry, Bloomberg reported, during which he disclosed intimate relationships with agents Jennine Gourin and Jessica Cohen.