Its 27th U.S. Market
Austin, TX. February 18, 2020 — After record expansion in 2019, REX, the full-service brokerage that uses AI and big data to greatly reduce fees paid by home buyers and sellers, is now open for business in Atlanta, one of the most vibrant metropolitan areas in the Southern U.S.
By employing data science, machine learning and artificial intelligence, REX is able to price homes more accurately than traditional brokerages, then target them to qualified buyers through Google, Facebook, Zillow, Trulia and more, driving the cost of the transaction down to 2.5%, as opposed to the nearly 6% industry average.
And by paying licensed agents a salary and incentivizing them to create a great customer experience, REX makes home buying and selling simpler by offering escrow, titling, mortgage, and insurance, all in one place and at competitive rates.
Using the REX app or dashboard, customers can schedule showings, track offers and manage many aspects of their transaction.
“The REX model is better, cheaper, and nimbler than what traditional realtors offer,” said REX co-founder and CEO Jack Ryan.
“REX helps consumers preserve their hard-earned equity and reduces stress and complexity by offering all the services buyers and sellers need to close a transaction.”
“REX is the future of real estate and we’re delighted to be able to offer our innovative services in Atlanta,” Ryan added.
Operating since late 2015, REX last year doubled the dollar value of listings it handled and the homes it sold. In doing so, it nearly tripled the total savings of consumers compared to what they would have paid had they used a traditional realtor.
To date, REX has raised $115 million from prominent private investors including Scott McNealy, co-founder and former CEO of Sun Microsystems. Dick Schulze, founder of Best Buy, Gordon Segal, founder of Crate and Barrel and Ken Griffin, the founder and CEO of financial securities giant Citadel.
For every 50 homes it sells, REX builds a home for a family in need as part of its social mission to provide equitable and affordable housing.
REX is the first licensed residential real estate brokerage that uses AI and big data to push past the outmoded business practices of traditional realtors by providing better outcomes and experiences for both buyers and sellers at a dramatically lower cost.
To find out more about how REX saves consumers money and hassles in what’s typically the most stressful transaction of their lives, visit rexhomes.com and follow REX on Twitter @rex_change, Facebook, or Instagram.
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