We are honored to have our Founder featured on Cereal Entrepreneur this week. “Wouldn’t buyers and sellers be better off if some of that money stayed in the sellers’ and buyers’ hands and went to funding their kids’ college education, providing the down payment for buying their next home, or furnishing the new house?”
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@rex_change: "Each year, consumers pay $70 billion to realtors and brokers. Yes, you read that correctly – $70 BILLION in commissions – every year. Wouldn’t buyers and sellers be better off if some of that money stayed in the sellers’ and buyers’ hands and went to funding their kids’ college education, providing the down payment for buying their next home, or furnishing the new house? Couldn’t much of the process be improved by a digital platform which would do everything a broker would do for most homes, but with better marketing and service, at a fraction of the cost, just like what was happening in other markets? . That’s how we got to REX, as in Real Estate Exchange. We have three big beliefs. We believe we can make the experience of buying and selling a home much better at a fraction of the cost. We believe we can improve the process by removing the impediments between buyers and sellers. And we also believe we can share our success with children and families who lack safe, comfortable homes." – Q: How is it different from your competitors? A: REX is the only company going around the MLS and traditional real estate agents to focus on what's best for consumers. Every other real estate site or service posts homes to the MLS which reaches agents, not consumers, and obligates home sellers to pay excessive buy-side agent fees. Through sophisticated marketing techniques used in e-commerce but new to real estate, REX reaches consumers where they are searching for homes. And the REX service, provided by licensed agents, combined with our tech platform ensure positive, frictionless consumer experiences throughout. . Q: What’s your advice to other entrepreneurs? A: There are brilliant people that, over thousands of years, have all come to the same conclusion- all of them right. Over the ages, Plato, Aristotle, Jesus, Aquinas, Hemingway, – all of them have said that you find happiness not by pursuing your own happiness, but by pursuing the happiness of others. Transferring that advice to business, you can only be successful in business if you do you things that are valuable to other people. If you don't do things that are valuable to other people, then you're out.