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Sharran Srivatsaa is stepping away from his role as President of The Real Brokerage to assume a seat on the company’s board of directors, Inman has learned.
The tech-forward remote brokerage announced the shift in a March 12 statement, which stated the move will become effective on June 1, 2025, pending corporate approvals. The company said there is no plan to name a new president.
The industry veteran recognized for his expertise in scaling brokerage operations was named to the position in December 2022, a job new to Real at the time. He was part of the leadership team of Beverly Hills-based Teles Properties, helping shepherd it from 33 agents to 650 in five years.
The luxury brokerage was close to $3 billion in annual revenue when it was acquired by Douglas Elliman in 2017. Srivatsaa is bullish on marketing and technology-based efficiencies, as evidenced by the firm’s surging brand and internal, AI-driven agent resources.
About his outgoing president, Chairman and Chief Executive Officer of Real Tamir Poleg said his ability to fully commit to the company mission was instrumental to everything the brokerage has accomplished in the last few years..
“We are incredibly grateful for his contributions and excited that he will continue to play a critical role in shaping our strategy as a member of the Board of Directors,” Poleg said. “His insight and advocacy for agents will remain invaluable as we continue to build the real estate platform of the future.”
Inman reported on March 6 that The Real Brokerage brought in more than 10,000 new agents in 2024 while surpassing a $1 billion benchmark in annual revenue, according to fourth-quarter and fiscal-year earnings.
Srivatsaa appears to have completed the mission he was hired to execute as Real’s luxury division, meanwhile, expanded with more than 230 certified luxury agents closing in excess of $1 billion in transactions. Another $1 billion in transaction volume is in the pipeline, he said in a March 6 earnings call.
“While stepping away from my day-to-day role as President is bittersweet, I am incredibly confident in the strength of our leadership team and the trajectory of our company,” Srivatsaa said in a statement. “Real has never been in a stronger position to empower agents through its innovative business model, proprietary technology and collaborative, entrepreneurial culture.”
