Yes, it�s absolutely real, I have seen people I know get hypnotized. And from my understanding, it feels like a very relaxed state of mind, where you wake up feeling refreshed.
One thing to note is that while they can make suggestions, they cannot make you do something you don�t believe in. So in a way, it�s almost like drinking too much and losing your inhibitions, where maybe you say something that you didn�t mean, but it wouldn�t make you do something you would never do otherwise.