Real estate startup, REX, launches in Orlando

Photo via REX Real Estate Facebook page

Another new real estate startup has launched that is attempting to cut out the middleman and break the MLS (Multiple Listing Service) grip on the national home-buying marketplace.

California-based REX Real Estate (Website) is an e-platform alternative for home-selling. They are a fully-licensed brokerage that charges a 2 percent flat fee versus the industry standard of 6 percent.

The thing that really sets them apart, at least on paper, is that they use artificial intelligence and machine learning to market homes directly to buyers instead of relying on agents.

According to their site, their “secret weapon” is their “… proprietary algorithms that target homebuyers based on geography, income, life stage, and likelihood of interest.” That being said, a listing on REX will also be featured on all of the current hotspot real estate sites including Zillow, Trulia, Google, etc.

Homes featured on the new site range from $400,000 and up; reportedly because that number allows for more retained equity from the sale of the home.

The startup has raised over $75 million in funding since its launch in 2015 and they are currently operating in California, Colorado, Florida, New Jersey, New York, Oregon, and Texas.

Find out more about them HERE on their FAQ page.

Editor’s Note: Another tech-based real estate company, Opendoor (Website), launched in Orlando in March 2018, which we wrote about HERE.

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