REX Real Estate, at a glance
- REX Real Estate is a licensed real estate brokerage operating in 17 U.S. states and Washington, D.C.
- Home sellers get full service and concierge support for a 2% listing fee, vs the standard rate of 2.5-3%. There is a minimum $9,000 fee for homes that sell for less than $450,000.
- REX does not post its listings on the MLS. Instead, it uses digital advertising to target primarily unrepresented buyers and cut the buyer's agent commission (typically 2-3%) out of the transaction.
- This may significantly reduce your pool of prospective buyers (roughly 87% of buyers work with agents), making it harder to attract offers.
- Represented buyers must cover their agent's fee themselves, which could hinder their ability or desire to purchase your home.
- If you buy a non-REX home with a REX agent, you may qualify for a 1-1.5% commission rebate.
- As of May 2020, 2020, REX Real Estate's average customer rating is 4.7/5 based on 578 reviews on Zillow, Google, and Facebook — see more reviews here.
What is REX Real Estate?
REX Real Estate is a multi-state real estate broker that offers discounted listing fees to home sellers — 2% or $9,000, depending on the final sale price — and commission rebates to eligible home buyers — typically 1-1.5%.
Two things in particular set REX apart from other full-service, discount brokerages:
- REX does not list seller's homes on multiple listing services (MLSs)
- REX does not offer a buyer's agent commission (typically 2-3% of the home's final selling price)
Instead, REX relies on digital marketing tactics — e.g., social media and search engine advertising, remarketing, in-app display ads, etc. — to target primarily unrepresented home buyers (that is, buyers without an agent), which, in theory, allows it to cut the buyer's agent commission out of the transaction.
This allows REX to advertise a “2% total” commission, which, compared to the 5-6% fee home sellers typically have to pay, sounds appealing. However, this advertising is misleading in that it doesn't accurately explain the tradeoffs.
MLSs are the primary way real estate brokers share and find information on properties throughout the United States. Because roughly 9 in 10 home buyers work with a licensed agent, when you don't list on the MLS, your pool of prospective buyers becomes much, much smaller.
Additionally, if a represented buyer is interested in your home, REX will ask them to cover their own agent's commission fee. Though REX suggests otherwise, this will likely be a huge disincentive for would-be buyers.
Imagine you're interested in two nearly identical houses on the same street listed for the same price — one requires you to pay an extra 3% to cover your agent's fee, the other does not. Which would you choose?
Is REX Real Estate right for you?
|Pros of selling a home with REX||Cons of selling a home with REX|
|Save up to 1% on listing fees||$9,000 minimum may result in listings fees higher than advertised 2%|
|Potential to avoid paying buyer's agent commission (2-3%)||Not listing on the MLS significantly reduces your home's visibility|
|Get full listing service (minus MLS access) and concierge support||Not offering a buyer's agent commission puts you at a competitive disadvantage|
Really, it's a question of your priorities and situation. You need to weigh the potential savings against the inherent risks.
Having no MLS listing or buyer's agent commission on offer — and requiring represented buyers to cover their own agent's fee — limits your home's exposure and makes it less appealing, which could make it harder to sell or impact price.
On the other hand, if REX manages to find you a qualified buyer without representation and the sale goes through, the savings could be significant.
We recommend reaching out to REX — along with several other home selling services — to learn more, compare your options, and make the best choice for your specific situation and goals.
>> COMPARE REX Real Estate vs similar services
REX Real Estate reviews
|Zillow*||4.9/5 (443 reviews)||See Zillow Reviews|
|4/5 (76 reviews)||See Facebook Reviews|
|Google*||4.2/5 (59 reviews)||See Google Reviews|
|Better Business Bureau||A+||See REX's BBB profile|
|Weighted Average||4.7/5 (578 reviews)|
*These reviews are for REX's California office. Reviews may vary by location. We recommend conducting your own research for customer reviews specific to your area.
REX has an average rating of 4.7/5 rating based on 578 customer reviews on Zillow, Facebook, and Google. REX has an A+ rating with the Better Business Bureau, with 7 customer reviews.
REX also features customer testimonials and reviews on its own website, but there is no discernible submission form or process, suggesting that these reviews are solicited and curated by the company — not uploaded directly by users, which would make them more objective.
How does selling a home with REX Real Estate work?
In many ways, the home selling experience with REX is similar to listing with a full-service agent or brokerage (with a few notable exceptions). Here's a brief overview of how it works:
- Set up your online profile: This is where you'll manage your listing info, communications with the REX team, open houses, showings, and more.
- Meet with your REX agent: Your REX agent will come to your home for an in-person consultation. REX will recommend its list price based on this on-site visit and available local housing market data.
- List your home: REX provides professional photos, a REX sign in your yard, and aligns with you on its listing strategy. At this point, you'll sign a listing agreement and your listing will go live.
- Marketing your home: Your listing will appear on REX's listing portal, as well as sites like Zillow and Trulia (not the MLS or Realtor.com). REX also employs digital advertising techniques like remarketing and micro-targeting across search engines, social media, and apps to attract prospective buyers.
- Showings and open houses: REX will coordinate and facilitate open houses and private showings on your behalf, per your preferences.
- Offers and counteroffers: REX will help you field offers and prepare counteroffers throughout the negotiation process.
- Closing: Your REX agent will offer support through the closing process, including help with paperwork and other logistics.
REX Real Estate agent vs traditional realtor
|Service||REX Real Estate||Traditional Realtor|
|Listing commission fee||2% or $9,000*||2.5-3%|
|Buyer's agent commission||N/A||2-3%|
|Professional home valuation||✓||✓|
|Listing on MLS||x||✓|
|Listing on Realtor.com||x||✓|
|Listing on Zillow, Trulia, etc.||✓||✓|
|Sign in yard||✓||✓|
|Marketing (digital + print)||✓||✓|
|Open houses & showings||✓||✓|
|Help with closing||✓||✓|
*REX charges of minimum $9,000 fee for homes that sell for less than $450,000.
How does buying a home with REX Real Estate work?
Buying a home from REX offers a few advantages and disadvantages compared to the traditional process. Here's a quick overview:
- Search REX's listings: You can browse REX homes via its website. Schedule showings, ask questions, and even make an offer via the home's REX profile.
- Team up with a REX agent: If you don't already have an agent, REX will provide one. Your REX agent can also help you buy a non-REX listed home. In this case, you could qualify for a commission rebate of 1-1.5% (roughly half of the buyer's agent commission the seller pays REX)
- Make an offer: Your REX agent will help you prepare your offer. If you don't have an agent and are interested in a REX home, you'll fill out an “Indication of Interest” as a means of pre-qualification.
- Inspections and closing: Once your offer is accepted, REX can recommend home inspectors, mortgage lenders, and title companies — or you can make your own arrangements. If you use a REX agent, you won't be responsible for any realtor fees, but will have to pay typical buyer closing costs. If you're using your own agent, you'll be responsible for paying their fee.
|Pros of home buying with REX||Cons of home buying with REX|
|Buyers purchasing non-REX homes may qualify for a commission rebate of 1-1.5%||If you buy a REX home, REX is representing you and the seller, which is a potential conflict of interest also known as “dual agency” in real estate|
|REX offers a 30-day buyback guarantee — they'll pay you the original purchase price, minus any transaction or repair costs||If you buy a REX home with your own agent, you'll have to pay their commission fee — typically 2-3% of the home's sale price|
|REX can help you apply for a mortgage, homeowners insurance, or find other services like home inspectors, movers, handymen, and more.||Limited availability — REX isn't available nationwide, and inventory in some markets is relatively low|
REX Real Estate locations
As of April 3, 2020, REX Real Estate is available for sellers and buyers in the following states and/or regions:
Note: REX's service coverage within a given state may be limited to select markets. We recommend contacting REX directly for more information on local or regional availability.
Top alternatives to REX Real Estate in 2020
REX may be a viable option for some home sellers; however, it's worth evaluating multiple services and home selling approaches before making a final decision.
Below, we've compiled some basic info on similar real estate services that offer discounted and flat commission rates to help you compare options and learn more.
|Brokerage||Listing fee||Buyer rebate*|
|REX Real Estate||2% — $9,000 min fee for homes under $450,00||1-1.5% (only if buying a non-REX home)|
|Clever Real Estate||1% — $3,000 flat fee for homes under $350,000||Up to 1%|
|Redfin||1-1.5% — minimum fees vary by market||Up to $1,500|
*In states where buyer rebates are legal.
You may also want to explore other home selling approaches before choosing to list with a discount brokerage. Here are some additional resources to help you understand all of your options so you can make a more informed decision.
- Flat-fee MLS services
- iBuyer services
- We Buy Houses for Cash companies
- Selling for sale by owner (FSBO)
- Flat-fee real estate agents
Next steps: Get advice from a real estate expert
If you're looking to buy or sell a house and weighing your options, Clever can help!
Our fully licensed Concierge Team is standing by to answer your questions and offer free, objective advice about how to sell your home, given your specific goals and situation.
Give us a call at 1-833-2-CLEVER, or enter your basic info below to get started.
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