Existence & Reality

What is the difference between that which “Exists” and what we define as ”Real”?  Lets look at the definitions of these two words first. 
Exists is defined as:  “be, being (have an existence, be extant)”.
Real is defined as:  “being or occurring in fact or actuality; having verified existence; not illusory”.
From this starting point, our initial view would seem [...]