Real Brokerage just delivered a standout quarter, and the results are prompting questions about the future of brokerage models in real estate In Q3 2025, the tech-centric brokerage reported $568.5 million in revenue, up 52.6% year over year, easily beating Wall Street estimates. Adjusted EBITDA came in at $20.37 million, and closed transactions rose nearly 49% compared to last year.