As auctioneers across the province can evade rules aimed at safeguarding consumers, Openn’s platform seeks to provide greater transparency and end-to-end protection.

IRVINE, Calif.–(BUSINESS WIRE)–Openn, a new ‘proptech’ solution, will be launching a pilot program in Canada this summer to help support the offer and acceptance process in a real estate transaction. The platform will provide real estate professionals and their clients with greater transparency and protection through modern solutions.

“Real estate is a rapidly expanding and evolving industry that requires greater transparency, equality and efficiency,” said Eric Bryant, Openn NA Director of Operations. “With that, we are seeing auction companies across Canada emerge and in provinces, such as Ontario, there continue to be regulatory loopholes in the property auction process that pose consumer risks. We believe our technology supports transparency at every stage of the real estate transaction, and Openn is looking forward to bringing that technology to Canada to help solve these consumer challenges.”

While most Canadian provinces having a registration system or legislation regulating the activities of auctioneers, Ontario and Manitoba remain the only two provinces without a regulatory framework. As a result, auctioneers can sell property without a license or experience, putting homebuyers in these provinces at risk.

Openn upholds the belief that the involvement of a licensed real estate professional in the buying and selling process is vital to a consumer’s protection during a real estate transaction. The inclusion of a real estate professional in the process eliminates the opportunity of fraudulent offers, as there are legal requirements to work within prescribed regulations. Openn’s platform ensures that consumers are protected against disingenuous activity, while still providing sellers with the choice in how they sell their properties.

“With our six-plus years in the Australian market, we have seen that the combination of regulated and licensed real estate professionals, qualifying buyers, and a digital audit trail not only mitigates risk but delivers legitimacy to the real estate transaction and builds consumer confidence,” added Bryant.

In addition to the pilot program, Openn is continuing to advocate for a regulatory framework to protect consumers using a property auction process.

About Openn North America

Openn North America Inc. is a property technology company offering a proprietary cloud-based software platform to support the offer and acceptance process in a real estate transaction with greater transparency. The Openn platform facilitates the negotiation process, featuring streamlined digital contracting and automated communication tools, which enhances a property transaction. The solution provides buyers with real-time feedback through their device on how much competition exists and where their price stands in the negotiation.

Contacts

Openn Media Relations
Hayley Suchanek

Kaiser & Partners

hayley.suchanek@kaiserpartners.com
289-681-2477

TORONTO & NEW YORK–(BUSINESS WIRE)–The Real Brokerage Inc. (“Real” or the “Company”) (NASDAQ: REAX) (TSXV: REAX), an international, technology-powered real estate brokerage, today announced that it has received final approval to list its common shares (“Common Shares”) on the Toronto Stock Exchange (the “TSX”).

“The Real Brokerage has experienced incredible achievements in a short period of time since its initial listing on the TSX Venture Exchange,” said Tamir Poleg, Chairman and Chief Executive Officer. “This uplisting is an important next step that will help increase our global visibility and offers a greater platform to expand our investor base. We are grateful to the TSX Venture Exchange for being supportive during this phase of our growth and are excited to embark on this next chapter.”

The Common Shares will commence trading on the TSX as of the market open on July 26, 2022 under the current trading symbol of “REAX”. In connection with the TSX listing, the Common Shares will be concurrently delisted from the TSX Venture Exchange.

Shareholders are not required to exchange their share certificates or take any other action in connection with the TSX listing, as there will be no change in the trading symbol or CUSIP for the Common Shares.

About Real

The Real Brokerage Inc. (NASDAQ: REAX) (TSXV: REAX) is revolutionizing the residential real estate industry by pairing best-in-class technology with the trusted guidance of the agent-led experience. Real delivers a cloud-based platform to improve efficiencies and empower agents to provide a seamless end-to-end experience for homebuyers and sellers. The company was founded in 2014 and serves 44 states, D.C., and two Canadian provinces with over 5,000 agents. Additional information can be found on its website at onereal.com.

Forward-Looking Information

This press release contains forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information is often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “likely” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof. Forward-looking information in this press release includes, without limiting the foregoing, information relating to the listing of the Common Shares on the TSX, the delisting of Common Shares from the TSX Venture Exchange and the business and strategic plans of the Company.

Forward-looking information is based on assumptions that may prove to be incorrect, including but not limited to Real’s business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. Real considers these assumptions to be reasonable in the circumstances. However, forward-looking information is subject to known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements to differ materially from those expressed or implied in the forward-looking information. These factors should be carefully considered and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, Real cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and Real assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release, and the NASDAQ has neither approved nor disapproved the contents of this press release.

Contacts

For additional information, please contact:

Jason Lee

Vice President, Capital Markets & Investor Relations

investors@therealbrokerage.com
908.280.2515

For media inquiries, please contact:

Elisabeth Warrick

Director, Communications

elisabeth@therealbrokerage.com