On January 8, 2021, The Real Brokerage Inc. (TSXV: REAX) (OTCQX: REAXF)( "Real") completed the acquisition of the business assets and intellectual property of RealtyCrunch Inc.
RealtyCrunch is a collaboration web and mobile app for home buyers and real estate agents. Launched in September 2020, it has already attracted over 2,000 real estate agents in the US who use it to streamline communication and document signing with their clients.
The transaction was satisfied in cash for an aggregate purchase price of US$1.1 million plus 184,275 common share purchase warrants of Real.
Real is a technology-powered real estate brokerage in 22 US states and the District of Columbia. Real is on a mission to make agents' lives better, creating financial opportunities for agents through higher commission splits, best-in-class technology, revenue sharing and equity incentives.
Gowling WLG advised Real on this transaction with a team that included Jason A. Saltzman and Adam Sherman.
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