This farewell is a truncated version of the expression "It's been real, it's been fun. Just hasn't been real fun!" It is not necessarily a slight to the person you are leaving, but more of the situation or experience that you have just shared.
While being dropped off after a car ride with a friend during which you helped him change a flat tire and ran out of gas - you turn to him and say"It's been real!"
by cjurban September 05, 2010
A phrase used as a farewell, when the experience shared has been of unique, experimental, or strange phenomenon. Also, a manner of stating that surreal time frame has been shared between two or more peeps.
johnny; "I am outtie to AZ. Peace, it's been real."

Margo: "Later, Ice Princess."
by Mr. FHK June 27, 2006
a farewell greeting... a good time has been had
Dude, its been real but i gotta bounce.
by Reese January 18, 2005
A farewell greeting, but with a negative connotation. The speaker is usually disappointed or annoyed at the person to whom (s)he is speaking.
It's been real. Have a nice life.
by Elizabeth April 21, 2005

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