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Real Brokerage has used its annual RISE conference to once again launch ambitious company initiatives, this time sharing with its growing cadre of agents the latest upgrade to its artificial intelligence business assistant, Leo, Inman learned in an Oct. 22 press release.
With a new level of omnipresence within an agent’s user experience indicated by a pulsing, always-on chat environment, the Siri-inspired Leo CoPilot is designed to be at the beck and call of Real dealmakers, able to respond to and act on a wide range of everyday general business needs and transaction-specific tasks.
“Leo CoPilot will serve as an agent command center, anticipating each agent’s unique needs and providing personalized support. More than just a reactive tool, Leo CoPilot will become the main interface agents use to manage reZEN, Real’s proprietary software platform, transforming how they run their businesses and boosting productivity,” the release stated.
Real rolled out the first iteration of Leo in May 2023. Built internally and led primarily by company CTO and Inman Innovator Pritesh Damani, the solution learns exclusively from internal data and workflows with the goal of becoming more proactive, instead of only a system to fulfill requests.
“Leo also will be customized for each agent, allowing it to understand and cater to their unique needs and working style. This personalized approach ensures that each agent receives the precise support they need, when they need it, making their job easier and more efficient,“ Real said last year.
From the stage of RISE, Damani said that Leo CoPilot is a vision now realized.
“We’ve always envisioned a world where Leo will take the initiative, proactively creating personalized marketing assets and daily playbooks to supercharge our agents’ productivity,” Damani said. “That vision is now a reality. Real agents now have a personal assistant that starts each day with a customized game plan — and takes charge of executing it.”
The company said that since its debut, the AI has “handled over 180,000 context-specific inquiries, providing agents with instant, relevant support.”
The application is designed to be a step ahead of its users, learning from common tasks and interactions to make each next project faster and smaller, meaning agents can accomplish more in less time, ranging from marketing campaign creation to assembling closing documents.
For example, Leo CoPilot can access local MLS data and Real’s marketing design center to ensure creative assets are targeted, compliant and on-brand. It feeds training information and coursework from Real Academy, delivers recorded presentations and even highlights agent-specific insights.
For brokers, Leo CoPilot can produce office reports on agent financials and payout status as well as work directly with agents on document fulfillment.
The AI’s impact on workflow alleviates dependence on support staff, frees transaction coordinators to tackle more complex needs, empowers brokers to provide a consistent, modern office experience and helps identify transaction hurdles and headaches before they derail a closing.
“Technology is the backbone upon which Real was built, and we continue to push the limits when it comes to leveraging artificial intelligence to deliver solutions that provide our agents and their clients with a strategic advantage,” said Real Chairman and CEO Tamir Poleg, in the release. “Combined with Leo for Clients, we are making significant strides toward our mission of simplifying one of life’s most challenging transactions.”
Leo for Clients is the company’s external offering to the consumer in its mission to help agents provide more value. The AI’s use is aimed at the communication gap that so often cracks open during home sales, usually after a contract is signed.
Real hopes Leo minds that gap.
Via text message, clients can converse with Leo to “receive recommendations for available properties based on their search criteria, access open house information, schedule tours upon request and initiate a mortgage application,” Real said.
Poleg also announced his brokerage’s latest effort to assist agents with long-term financial literacy, called Real Wallet.
The agent benefit helps manage and access earnings sooner through internal accounts powered by a banking integration — in essence, a “Real bank account.” Real Wallet can be established upon setup and becomes actively integrated with the agent’s payouts, retirement funding, fees and all other facets of their economic standing with the company.
The account includes all the common benefits of typical bank accounts, such as a debit card and account statements. In the U.S., accounts are administered by Thread Bank, Member FDIC.
Poleg said Real Wallet reflects the company’s mission to be more than a brokerage to its agents and employees.
“Real Wallet is designed specifically for agents of the future, addressing a critical need by helping them better manage their finances and reinvest in their businesses,” Poleg said. “By merging fintech with real estate, we give agents the autonomy and flexibility needed to control their financial futures.”
Real said in the release it has plans to make the Wallet program available through Apple Pay and Google Pay accounts, as well as to introduce a rewards program that can be “redeemable toward reduced brokerage and transaction fees.”
The fast-growing remote-office-model brokerage surpassed 20,000 agents in July of this year. While still lagging behind eXp Realty (85,000 agents), Anywhere (56,000) and Keller Williams (174,000), The Real Brokerage is within reach of Compass, which currently boasts approximately 29,000 agents.
Real reported in August that revenue rose to a new high during the second quarter of 2024, increasing 82 percent year over year to $340.8 million. The brokerage’s gross profit also hit a new high, growing 79 percent year over year to $31.9 million.
Poleg teased the launch of Real Wallet in that earnings call.