Can I use my Real wallet reward points to pay down my cap?
Yes, you can redeem your rewards points to pay your Real fees on eligible transactions. This includes using points to offset the fees you owe to Real on a transaction.
For more information, see Redeeming Rewards
If I redeem Wallet reward points to pay brokerage fees, do the fees still count toward my elite status?
Redeeming rewards points does not impact the cap or progress toward elite status. When you use rewards points, they are applied against your Real fees on a transaction, but the full commission amount before any rewards redemption is still counted toward your cap or elite status.
If agents get paid through Real Wallet, is there a certain time frame they have to leave the funds in the account in order to earn points?
Monthly balance reward points are earned at a rate of 0.5 points per $1 of the average monthly balance and are calculated on the 1st of each month for the previous month. We encourage you to save funds in your Wallet accounts and use your debit card for transactions, as transferring funds out of your Wallet accounts will reduce points earned.
For example:
- $10,000 deposited on the 15th of November and held for the rest of the month = 2,500 points on Dec 1st
- $10,000 deposited on the 1st of November and held for the rest of the month = 5,000 points on Dec 1st
- $10,000 deposited on 1st of November and withdrawn on the 1st of November = 0 points on Dec 1st
Will I lose my rewards if I switch my Wallet account from a sole proprietorship/individual account to a business account?
No, Wallet reward points are tied to your reZEN account, so you will not lose your points.
Please reach out to the Wallet Support team if you would like to switch your account from a sole proprietorship/individual account to a business account.
If further assistance is needed, please reach out to wallet@therealbrokerage.com.
The Real Brokerage is a real estate technology company and is not an FDIC-insured bank. Banking services provided by Thread Bank, Member FDIC. FDIC Insurance available for funds on deposit through Thread Bank, Member FDIC. FDIC deposit insurance covers the failure of an insured bank. The Real Wallet Visa debit card is issued by Thread Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used anywhere Visa cards are accepted. Certain conditions must be satisfied for pass-through deposit insurance coverage to apply.
Your deposits qualify for up to $3,000,000 in FDIC insurance coverage when Thread Bank places them at program banks in its deposit sweep program. Your deposits at each program bank become eligible for FDIC insurance up to $250,000, inclusive of any other deposits you may already hold at the bank in the same ownership capacity. You can access the terms and conditions of the sweep program at https://thread.bank/sweep-disclosure/ and a list of program banks at https://thread.bank/program-banks/. Please contact customerservice@thread.bank with questions on the sweep program. Pass-through insurance coverage is subject to conditions.