Dual listing on the Toronto Stock Exchange and U.S. NASDAQ hasn’t delivered adequate payback on duplicate fees for the Real Brokerage Inc,. which will voluntarily exit from the TSX as of August 11. The online provider of residential sales services cites “minimal trading volume” for its decision, and is advising Canadian shareholders that they can continue to trade on the NASDAQ.

“As we evaluated our long-term growth strategy and the liquidity afforded by being listed on the NASDAQ, we could no longer justify the financial and administrative costs associated with maintaining a dual listing,” says Tamir Poleg, the company’s chair and chief executive officer.

The publicly traded digital platform connecting homebuyers, sellers and sales agents currently operates in 47 U.S. states along with Ontario, Manitoba, Alberta and British Columbia in Canada. About 10,000 licensed agents are now affiliated with online platform, which completed 42,200 transactions in the 12 months from June 2022 to May, 2023. Real Brokerage Inc. posted a market cap of USD $232 million as of June 1 this year.