I’ve spent my entire career helping companies get the best possible return from their digital marketing investments. To get great results, it takes good tools and solid strategies. REX is changing an outdated industry by delivering all the benefits of leading-edge digital marketing to homeowners and home buyers.
A Marketer’s View
From a marketing perspective, REX makes total sense. The traditional real estate industry is based entirely on concepts that are the exact opposite of the very goal of marketing.
Using the MLS, traditional agents keep an outdated marketplace where homebuyers can’t even see what is for sale without them. By convincing consumers that the MLS is needed to sell their homes, traditional agents manage to collect 5-6% commissions on the purchase price of every transaction.
Imagine you were in the market for a new car; but, the only way to even see which models were currently available was to go to a dealership, and talk to the salesman.
Even then, you could only see which makes and models he thought were a good fit for you (or, more likely what he had as available inventory to sell you). For all this, he would charge you an exorbitant fee baked into the cost of the car. Sounds broken, right? We think so, too.
The Changing Role of the MLS
In the past, when a homeowner wanted to sell their home, he or she would most often contact a real estate agent as their first step. That was because agents were the only ones who had access to the MLS, which was the only way to see which houses were available for sale.
The traditional agent would then post the home on the MLS, which made it visible to other agents. In this antiquated model, a seller’s agent and a buyer’s agent would get a signed contract, charging 5-6% for the service.
A Seismic Shift
Then, came the Internet. Quickly, buyers were able to see available inventory all on their own (on sites like Zillow, Trulia, and many others). Buyers could look at photos, schools, and compare prices to find the best match for their specific requirements.
But, even though buyers could now find their own home (and many did), they still needed a real estate agent to answer questions, setup a showing, and write the offer.
Regardless of the homebuyer doing so much of the work themselves, the commission agents charged remained 5-6%.
REX Changes The Game
REX is fully licensed to sell real estate, but we are not traditional real estate agents. This is a point critical to our success. Not to be mistaken, we do everything a real estate agent does (plus more,) except for one thing.
We do not list our homes on the MLS. By going around the MLS, REX has broken down the barrier between buyers and sellers letting buyers find homes themselves online and schedule showings without agents.
How do we do it? Instead of using the MLS to advertise homes to agents, we use sophisticated digital marketing to show homes directly to potential homebuyers. We use all the top online destinations (including Google, Yahoo, Bing, Facebook, Instagram, LinkedIn, Twitter, Zillow, Trulia, and many others).
We target buyers based on their geography, demographics, preferences, and even online behaviors. We use remarketing (just like the best ecommerce sites) to remind potential buyers of homes they have previously seen but also to communicate events (such as open houses) and changes (like a change in status).
The results speak for themselves. Without the MLS, REX listings have sold 30% faster than traditional real estate and at higher prices. To me, this proves that the MLS is no longer an effective tool to market homes compared to using modern tools and tactics. Of course, REX only charges sellers a 2-2.5% fee (often 80% lower than traditional agents).
This is why I joined, and why I believe REX is the future of real estate.
To learn more about how REX sells homes faster, visit How REX Works.