Company: RMSGW
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001641172-25-021609
Chunk: 54

Company: Real Messenger Corp
Filing Date: 2025-07-31
Form: 20-F
Item: Item 4
Chunk 54
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. We believe that combining
transaction-based future potential revenue from brokerage activities with SaaS-based future potential revenue from our digital tools
will create a resilient, diversified business model.

Our
monetization model will be driven by a combination of: (i) gross commission income from brokerage transactions, (ii) licensing fees for
technology and productivity tools, and (iii) value-added services, such as premium marketing, lead generation, and data analytics. This
strategy is designed to support sustainable earnings growth and unlock synergies across our acquired portfolio of real estate companies.

We
currently operate and have strategic initiatives underway in over 35 countries, with a growing footprint in markets that demonstrate
strong real estate activity and digital adoption. Our global perspective informs every aspect of our product roadmap and acquisition
strategy, enabling us to scale a unified, tech-enabled real estate ecosystem that aligns with the diverse needs of agents, brokers, sellers,
buyers, and investors around the world.

  36  

Business
Model Transition (Starting in Q3 2025)

Strategic
Evolution in Response to Market Conditions

Since
the closing of the Business Combination, the Company has undergone a comprehensive strategic transformation in response to significant shifts in capital
markets, macroeconomic conditions, and structural disruptions within the real estate brokerage ecosystem.

When
we initially launched the Company, our business model centered on building a global real estate social platform, monetized through
user engagement, freemium upgrades, and media integrations. While this model garnered early traction and validation, it became increasingly
clear by late 2024 that the capital environment no longer supported consumer-growth-first platforms without immediate and recurring revenue.
Rising interest rates, reduced access to venture funding, and tightening investor appetite for pre-revenue technology companies led to
a sharp revaluation across the sector. Market sentiment has decisively shifted toward businesses that generate cash flow, demonstrate
operating leverage, and scale with predictable economics.

In
parallel, the real estate brokerage industry - particularly in the United States - entered a period of profound upheaval. The
outcome of several class action lawsuits and subsequent settlements involving the National Association of Realtors (NAR) and leading
brokerage networks has introduced an existential challenge to traditional commission-sharing structures and buyer-agent compensation
models. Many incumbent brokerages, especially those with rigid franchise systems or legacy cost structures, are ill-equipped to adapt
to the new regulatory and economic landscape. These headwinds have created strategic dislocation in the industry, exposing vulnerabilities