SOURCE: REX

REX

November 12, 2015 08:00 ET

REX Launches the World's First Digital Marketplace to Change the Way People Buy and Sell Homes

New Solution Offers High Level of Service, Online Resources, Sophisticated Marketing Strategies and More, at a Fraction of the Cost

WESTLAKE VILLAGE, CA--(Marketwired - Nov 12, 2015) - REX, the world's first digital marketplace and concierge service that is changing the way people buy and sell homes, today announces the official launch of its platform. Previously available in a limited Southern California beta since May 2015, REX goes around the MLS and traditional real estate agents, doing everything a traditional agent would do with a higher level of service. REX's digital exchange brings buyers and sellers together to conduct the entire real estate transaction from any device, at any time, at a fraction of the historical cost.

A licensed real estate brokerage, REX offers a white-glove concierge service and other extensive resources to guide both parties through the entire process, with big savings -- only one percent of the purchase price is charged for the entire transaction, versus the six percent commission that is standard in the traditional agent-driven real estate model. Because of these savings, REX's platform allows buyers to buy a home for less and sellers to sell the exact same home for more within the same transaction. The REX experience parallels the consumer experience in other industries where the web has provided better efficiency and service at a much lower cost.

During its limited beta period, REX has sold five homes in the Los Angeles area, with an additional five now listed in the marketplace and over ten homes in queue to be listed in the near future.

At launch, the REX platform will offer:

  • An Online Marketplace: Home sellers can list their homes digitally and REX creates a detailed custom website with professional photographs. Buyers will find a curated selection of pre-screened, quality homes for sale.
  • White Glove Concierge Service: In addition to maintaining direct digital communication with one another, buyers and sellers are assigned a trained concierge dedicated to their sale or purchase, guaranteeing transparency throughout the process.
  • Extensive Marketing: REX markets homes where buyers are looking, on sites like Google and Zillow, using the most up-to-date techniques for SEO, SEM, and remarketing drawn from the e-commerce, technology, and media industries, but not seen before in the real estate industry.
  • Visual Representation: REX sends photographers to take beautiful photographs that showcase each property.
  • Communication and Booking Tools: Simple tools enable buyers and sellers to get questions answered, schedule showings, send required documents and complete negotiations, all without the telephone game among multiple agents, sellers and buyers.
  • Legal Expertise: REX's legal team reviews every purchase agreement, a service not offered during most real estate transactions.
  • Network of Partners: REX partners with leading mortgage, inspection, staging and other services to support the entire selling or buying process.
  • Resource Center: REX offers Q&As and blog posts addressing common and complex questions that come up during the selling and buying process, including pricing and home data by market; real estate industry data and statistics; liability and laws in each state; and more helpful information. The Resource Center will continue to be developed in coming months and consistently updated as REX enters new territories and markets evolve.

REX is currently available in Southern California, and plans to expand into additional markets throughout the United States within the next 18 months. In each location, REX will work with residential real estate legal experts to ensure all regulations and legalities surrounding the home buying and selling process are met and exceeded.

To learn more about REX and see the available properties, visit http://www.rexchange.com.

RELEVANT QUOTES:

"Until now, innovation in the real estate industry has focused on aggregating information to help sellers and buyers during the research process -- an important step, but not one that changes the fundamentals around the actual transaction," said Jack Ryan, founder and CEO of REX. "REX is the only service that goes around the MLS to connect buyers and sellers directly to create better experiences and save thousands of dollars for both sides."

"REX was built to shift the value created by selling and buying homes from the Realtor to the end customer," said Jack Ryan, founder and CEO of REX. "It's as simple as that."

"Most home buyers don't realize that they are actually paying thousands of dollars to use an agent, as their agent's commission is built directly in to the price they pay for the home," said Jack Ryan, founder and CEO of REX.

"The real estate industry is lagging behind many others in keeping up with the disruption caused by consumers who are newly empowered by information and the advancement of technology," said Alan Wexler, REX board member and CEO of SapientNitro, a leading international marketing agency and a division of Publicis.Sapient.

"Current real estate marketing is antiquated and ill-targeted. Take a look at real estate listings that use words like 'curb appeal,' 'well appointed,' 'east coast charm,' or 'heart stopping' -- these are not terms that people use to search for a new home," said Lynley Sides, Chief Marketing and Operating Officer, REX. "We market directly to buyers, where and how they are searching for their dream home."

"REX advertised our home everywhere, hosted showings, and the REX concierge managed all of the documents and legalities during closing," said REX sellers, George Cvjetnicanin & Melissa Schlegel. "It was a truly enjoyable experience that saved us thousands of dollars. REX is as easy as Turbo Tax for real estate, but with professionals to guide you through the process."

About REX
REX is a digital marketplace and concierge service where people can buy and sell homes with a better experience and at a fraction of the cost traditionally associated with real estate transactions. The only platform that automates the entire process while providing high-touch concierge services, REX charges only a 1% fee to sellers and goes around the MLS to find buyers where they are using highly sophisticated marketing techniques. As a licensed real estate brokerage, REX's collective team provides extensive expertise in real estate, legal and financial industries, and savings to its users without giving up resources needed to complete the transaction. For more information visit http://www.rexchange.com.

Contact Information