The Urban Nest, comprised of 2,500 deals potentially worth $1.5 billion, caught the attention of Real co-founder and CEO Tamir Poleg and president Sharan Srivatsa. This will be the number for 2023.
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The final months of the year and the approaching holiday season suggest a slowdown in the real estate industry, but The Real Brokerage did not receive this memo.
The rapidly advancing technology brokerage will hire an additional 400 agents from Las Vegas-based Urban Nest Realty, Inman said. The luxury-oriented independent family led by David J. Tina, David R. Tina and Angela Tina announced in a Dec. 17 statement that they will become part of Real Brands.
The Tinas family launched Urban Nest in 2012 at the height of the Great Recession, a market era that hit Las Vegas particularly hard. Intermediaries and intermediaries are in an even tougher position on this issue.
“By fostering a culture built on community, unparalleled training and education, and a commitment to supporting every aspect of our agents’ lives, Urban Nest has grown rapidly and built a reputation that attracts the top producers in the market. obtained,” the release states.
The company has more than 35,000 sales on its books, totaling more than $11 billion. What caught the attention of Real co-founder and CEO Tamir Poleg and president Sharan Srivatsa is that the 2023 deal will likely consist of 2,500 deals worth $1.5 billion. It’s probably a number.
In a statement, Shrivatsa called the Tina family “an icon.”
“With their selective approach to building a high-performing team and their dedication to the well-being of their agents, they are a natural fit for Real’s mission,” he said. “As part of the same team, we will be able to expand possibilities in ways that create value and improve the industry as a whole. Urban Nest Realty joining Real is an extraordinary milestone for both organizations. ”
Inman reported in November that Real added more than 2,000 new agents from July to October, and total revenue increased 74% compared to a year ago. The numbers were revealed during the company’s third quarter financial results announcement.
The company posted a net loss of $2.5 million as it maintained its high-growth stance of attracting new agents by offering financial incentives that outperformed its competitors, according to brokerage leaders.
The total number of deals closed during the quarter reached 35,832, an increase of 76% year over year. According to the company, the total number of agents reached 21,770, an increase of 79% from the same period last year and 11% from the second quarter.
David J. Tina is recognized as the “key visionary” behind Urban Nest, serves as President of Las Vegas Realtors, and was inducted into the Las Vegas Realtors Hall of Fame in 2018.
“If Urban Nest were a publicly traded cloud brokerage, we would be Real. Our values are completely aligned,” Tina said in the announcement. “This is a case where 1+1 equals 100. We amplify each other and the synergy is unparalleled. Real gives our agents the opportunity to network and build long-term wealth. and the opportunity for Urban Nest to grow beyond our walls.”
Angela Tina brings 18 years of expertise in luxury sales to Real and will be recognized by the Women’s Council of Realtors and the Young Professionals Network of Las Vegas. She is also a member of the Las Vegas Realtor Hall of Fame. She and David J will be part of Real’s luxury division.
The senior, David R. Tina, has 40 years of industry experience after working as a firefighter in New York City for 20 years. He currently serves as the real estate commissioner for Clark County, Nevada, home of Las Vegas and Henderson. Previous industry positions include president of Las Vegas Realtors, president of the Nevada Association of Realtors, and chair of the National Association of Realtors Broker Participation Council. He was inducted into the Las Vegas Real Estate Hall of Fame in 2015.
In November, Real was named to Deloitte’s Fast Technology 500 list, ranking 38th.
In a Nov. 21 statement sent to Mr. Inman, Real CEO Tamir Poleg said the company’s 30-year presence on the list was due to the company’s technology-advanced real estate sector. “This is further evidence that the model is responding,” Poleg said, “which allows us to increase agent productivity through automation.”
“While this is a simple concept, it will require widespread adoption to be successful, and our unique technology stack will be a key component to our growth,” he said. “Looking to the future, we are committed to leveraging artificial intelligence to improve agent productivity and provide a seamless and intuitive experience for both agents and clients.”
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