Company: RMSGW
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001641172-25-021609
Chunk: 55

Company: Real Messenger Corp
Filing Date: 2025-07-31
Form: 20-F
Item: Item 4
Chunk 55
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in long-established operating models and forcing brokerages to reassess how they deliver value to agents and consumers alike.

This
moment presents a rare convergence of opportunity for the Company. First, brokerage valuations have declined significantly due to
lower transaction volumes and margin compression driven by sustained high interest rates. Second, industry uncertainty has increased
seller willingness and lowered acquisition multiples for previously unavailable or unaffordable brokerage assets. Third, no dominant
global brokerage platform currently exists that unifies agents under a single technology-driven infrastructure. Most existing brokerages
are either fragmented regionally, constrained by limited franchise control, or overly reliant on fixed-fee or commission-split models
that lack long-term flexibility and scalability.

In
light of these dynamics, the Company has made the strategic decision to transition from a pure-play social app to a vertically integrated,
technology-enabled real estate platform built through acquisitions. We believe the time is now to consolidate and modernize the global
brokerage market by acquiring revenue-generating brokerage teams, offering agents flexible business models, and integrating all operations
into a shared technology ecosystem.

Unlike
traditional franchising, which often limits platform control, brand consistency, and data centralization, our approach is ownership-based.
By acquiring and operating brokerages directly, we can drive alignment between technology adoption, branding, agent compensation, and
long-term value creation. Moreover, our model supports multiple brokerage archetypes under one roof - from high-split, equity-aligned
models to low-commission, high-lead generation environments - enabling us to retain agents throughout their career evolution, without
forcing them to exit the platform.

We
believe the Company is uniquely positioned to build the first truly global, software-defined real estate brokerage. Our platform strategy - anchored
in M& A discipline, proprietary agent technology, and lifecycle-oriented agent alignment - offers a durable growth engine that
reflects both the realities of the current macroeconomic environment and the future of brokerage operations.

Going
forward, our business will be powered by (i) commission income from acquired brokerage operations, (ii) expected future recurring
subscription revenue from our proprietary software suite, and (iii) a growing share of monetization across our real estate agent
ecosystem. We view this evolution not as a pivot, but as a natural progression toward building a resilient, scalable, and
agent-centric real estate operating system.

  37  

Competitive
Strengths

We
believe the Company is uniquely positioned to build a next-generation global real estate platform by combining a high-performing technology