Home Why is the Founder of Best Buy Visiting a Real Estate Start-up?

Why is the Founder of Best Buy Visiting a Real Estate Start-up?

by Lynley Sides

[activecampaign form=1]Dick Schulze Speaks to REX staff, first in the series

 

REX is attracting some of the most innovative and successful people on the globe to its mission of transforming the residential real estate space and improving the world. Last week Dick Schulze, Founder of Best Buy, visited REX’s offices outside of Los Angeles. Best Buy disrupted and transformed the consumer electronics space by removing the high-cost commissioned sales person from the buying process, and provided the informed buyer the ability to choose what they wanted at a much-reduced cost. In investing in REX, Dick noted the many similarities to what REX is accomplishing to what Best Buy had achieved in becoming a company with nearly $50 billion in revenue and a $15 billion market capitalization.

 

shulze_thumb_1” You are at the forefront of one of the greatest opportunities in business today. You win by empowering people to add value to the mission. Embrace change- it’s inevitable, it’s continual and it’s constant…” – Dick Schulze 

 

Goodbye MLS. Hello REX.
REX was founded to change the way people buy and sell homes. For a total fee of 2%, REX takes care of everything both buyers and sellers need, while removing traditional agent commissions of 5-6%. REX delivers full service, better outcomes, easier customer experiences, and does so with 30% fewer days on market and 80% less cost. REX’s data-driven marketing goes around the MLS to reach buyers directly using technology and proprietary algorithms to target real, live homebuyers on places like Zillow and Google. Learn more at rexchange.com.

 

The Titan Of Retail, Dick Schulze.

In 1966, mortgaging his home, Dick Schulze founded an audio equipment store in Saint Paul, Minnesota and called it “Sound of Music”. He quickly reduced the cost of selling consumer electronics by removing the high-commissioned sales person, removing the walls that separated the customer from the inventory, and transforming the sale of consumer electronics. Under Schulze’s leadership Best Buy went public in 1987, was named “Company of the Year” by Forbes magazine in 2004, ranked in the Top 10 of “America’s Most Generous Corporations” by Forbes in 2005, and made Fortune magazine’s list of “Most Admired Companies” in 2006. Schulze resigned from the Chairman role in 2012, but still holds the title of Chairman Emeritus. Today, Best Buy employs more than 125,000 people and operates more than 1,000 stores across the globe.