Real Brokerage acquires consumer home search portal

Real estate services company Real Brokerage (NASDAQ:REAX) announced on Tuesday the acquisition of AI-powered consumer home search portal Flyhomes.

The company made an equity investment in Flyhomes to facilitate its evolution into a wholesale mortgage lender.

The terms of the deal were not disclosed.

"This acquisition allows us to connect the dots between agent tools, client experience and transaction flow, all in one intelligent ecosystem," said Pritesh Damani, chief technology officer at Real.

Real said the acquisition was funded with existing cash on hand, and is not expected to have a material impact on the financial results.