** NOTE: As of 3/6/2020, Real's agents are no longer being granted stock options based on their activity.

Our Equity Compensation Plan for Agents (the:’Plan”) provides an opportunity for Real Agents to build long term wealth by owning equity in the company that you help grow. 

Working together, we aim to build the most valuable brokerage in the real estate industry. This Plan is meant to ensure that the early contributors will have the opportunity to receive the largest rewards. 

For more on the mission behind the Plan, please read Tamir Poleg’s Forbes article “Should Independent Contractors Earn Equity In The Brokerages They Help Build?

Option Grants

The Plan grants you the option to purchase ordinary shares of company stock at a set exercise price as follows: 

Note: Plan began in July of 2018. Real ceased offering options based on agent activity on 3/6/2020.


For an Agent who joins Real in July 2018, remains with Real for 3 years, closes 4 deals per year, and refers 1 Agent per year, the options grant would look as follows:

Exercise Price 

The options’ exercise price (or “strike price”) is set in the Stock Option Agreement and is based on a fair market value assessment at the time of the grant. The fair market value typically is established during the last funding round and according to an independent survey. This is done in order to avoid taxation on agents at the time of grant. When your exercise price is lower than the market price for the stock options, your stock options are “in the money”.  

The most valuable scenario is when you are granted options during a company’s early stage when the company valuation is lower, and you exercise the options and sell the shares later when the valuation is higher.

One example of share prices for a later-stage brokerage is EXP World Holdings, which listed on NASDAQ in 2018. Please note that this reference is merely an example and does not indicate or imply to future business results or increase in value of shares.

Time Limits

There are limits to the number of shares in a company stock option pool, so the number of options granted will be smaller for Agents who join later in the company’s life. In other words, the largest grants are for the earliest Agents. 

** NOTE: As of 3/6/2020, Real's agents are no longer being granted stock options based on their activity.


A licensed estate salesperson, associate broker or broker, registered in the Company’s real estate registration.

Annual cap
The annual amount at which Agents keeps 100% of the sales commission, typically at $75,000 gross commissions or $12,000 net paid to Real (unless otherwise decided by the Company)

Consummation of a real estate sale transaction, with an Agent commission of at least $3,000 or on every third lease, as a registered Agent of the Company.

Exercise price
Also known as “strike price”, it is the price at which the holder can purchase the ordinary share in the future. At the time of grant, the exercise price should reflect a “fair market value”as determined by the Company. 

Fair market value
This is a formal valuation of a company’s ordinary share. In privately-held startups like Real, the valuation is typically set by a third party study conducted by valuation experts. 

Incentive Option Plan
Real Technology Broker Ltd. 2016 Incentive Option Plan (together with applicable appendixes, including the US Addendum to the Incentive Option Plan).

Stock option
The right to buy company’s ordinary shares in the future at a price (the “exercise price” or “strike price”) that is in place when the options are granted.

Stock option agreement
A legal contract governing the terms and conditions of the stock option grants. 

Strike price
See “exercise price” 

Vesting date
The date you can exercise your options according to the terms of your stock option agreement.


How will I know when I earn options?
Two ways. Each time the Real board of directors approves an option grant, you will receive an email asking you to sign your agreement. In addition, you will be able to track your options and vesting schedule in the Real app. 

Can I sell my stock options?
Currently Real’s a privately held company, which means it is not traded on public markets. Real’s goal is to increase the value of its shares and, when the conditions are most favorable to stockholders, list shares on the public market. 

*Company reserves the right to change the number of stock options allocated to agents who join the company in the future.


Assignability and Sale of Options. No option shall be assignable, transferable, given as collateral, hypothecated, pledged or encumbered and no right with respect to the options shall be given to any third party whatsoever, and during the lifetime of each Agent, each and all of such Agent’s rights to purchase shares hereunder shall be exercisable only by such Agent.

Sale Pursuant to Terms. The Agent shall not sell, pledge, transfer or otherwise dispose of any shares in transactions which violate, according to the Company’s sole discretion, any applicable laws, rules and regulations, or the terms of the Company’s Articles of Association.

No Public Market. The Agent understands that no public market now exists for the shares or stock options, and that the Company has made no assurances that a public market will ever exist for the shares.

No Obligation of Engagement. Neither this Plan nor any option grant shall be construed to impose any obligation on any entity included in the Company to continue any Agent’s engagement with it.

Changes to Plan. Company reserves the right, at its sole discretion, to change, terminate, cancel or replace this Plan for a particular Agent or for all Agents of the Company for a certain year or on a regular basis. The Agents agrees and acknowledges that Agent shall have no claim or demand in connection with the change or cancellation of this Plan.

Secrecy. The Plan is confidential and may not be disclosed to any third party, other than as required in accordance with the applicable law.

Taxes. Agent shall bear all tax consequences, if applicable, related to any event or act in connection with this Plan. Please consult with your tax consultant for how your stock options would be taxed.

Termination. The vesting of the options shall continue only while the Agent is engaged with the Company. In the event of termination of the engagement with the Company, for any reason, Agent shall to exercise all, or part of, the vested options that have not expired, for a period of ninety (90) days from the date of the termination of the engagement. After such ninety (90) days period, all unexercised options will automatically expire.

Inconsistency. Other than the vesting schedules prescribed herein, the Provisions of the Incentive Option Plan shall supersede and govern in the case of inconsistency between the provisions of this Plan and the provisions of the Incentive Option Plan.

** NOTE: As of 3/6/2020, Real's agents are no longer being granted stock options based on their activity.

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