REX Homes, the most effective and least expensive way to buy and sell residential real estate, is now open for business in Portland. Now in its fourth year, REX is the only licensed full-service real estate agency to use AI and big data to circumvent the antiquated MLS-listing model to provide a superior outcome for both buyers and sellers, saving them up to 70 percent in fees.
REX is able to offer substantially lower fees than other brokers by using data modeling and machine learning to match sellers and buyers of homes as accurately and quickly as possible on Zillow, Google, Facebook and more.
On the sale of a home, REX charges a two percent total fee compared to the traditional agent commission of six percent. It also provides customers unparalleled peace of mind with a 30-day money back guarantee on any home purchase.
“We’ve chosen Portland as our first market in the Pacific Northwest because of its tech-savvy and well-informed consumers,” said Jack Ryan, co-founder and CEO of REX Homes. “Consumers want the lower costs, great service and incredible convenience brought about by the technology that has transformed so many other industries. We are seeing a lot of the sellers we work within California moving to the Portland area, so it is a natural next step.”
From its home base in California, REX has already expanded to Colorado, Texas, New Jersey and New York and, after receiving expansion funding from its investors, has turned to Oregon. Portland is among the most attractive U.S. urban real estate markets with a median listing price of $453,000 for a home, which is now rising by an estimated one percent annually. There are around 7,300 listings in the market with volume increasing by an impressive 33 percent year-over-year.
Unlike traditional brokers, REX licensed agents are salaried and incentivized to satisfy customers rather than to just close transactions in pursuit of a fast commission. Uniquely, REX also simplifies the home transaction process by offering its customers mortgage and insurance services.
In 2018, REX increased listings by 300 percent year-on-year, representing homes cumulatively valued at over $1 billion and in the process, saved customers over $12 million in fees they otherwise would have paid traditional brokers.
REX is backed by a who’s who of prominent American business investors, including Scott McNealy, co-founder and CEO of Sun Microsystems, Dick Schulze, founder of Best Buy, Gordon Segal, founder of Crate and Barrel, Amit Singhal, former SVP of search at Google, Diana Nelson, chair of Carlson, Jack Greenberg, former CEO of McDonald’s and Muneer Satter, chairman of Satter Investment Management.
To list a home with REX, visit: rexhomes.com