If you are considering listing your home with a real estate agent, you need to know the best features and services. This can help you decide whether to choose Rex Realty or another company.
Listing fee
REX Real Estate is a brokerage with a unique business model. It claims to offer the lowest fees in the industry. However, there are concerns about its practices. As a result, you may wonder if you should sell your home through REX.
The company has a low listing fee of 2.5%. They also offer a rebate program for buyers. In addition, they offer in-house financing.
The fees are based on property value. For homes under $360,000, the price is $2,750, while for those above $360,000, the price is just $9,000, which is a flat fee.
Other companies such as Clever Real Estate and Redefy offer low commission rates. These companies also source organic buyers through their websites.
REX offers a marketing campaign to non-traditional agents who may not be as excited about showing a REX listing. This could affect the amount of time your home sits on the market.
2% cashback offer
There’s a lot of hype around REX Real Estate. Mainly in the marketing world, the company offers services other than real estate. Those include in-house financing and insurance. So, is it a scam or an essential benefit?
Using a REX agent isn’t free. The company charges a 2.5% listing fee or a $9,000 listing fee if you sell a home under $360,000.
REX also has a home buyer rebate program. You’ll get up to 1% of your home’s sales price back at closing. That’s a nice perk, but it also means you’ll need pre-approved for a mortgage. In addition, you’ll need to pay for a credit check, appraisal, and the agent’s commission. This is a bit of a pain if you’re not in a rush and could also lead to miscommunications.
Lack of MLS access in my area
REX real estate is a reputable company that provides online brokerage services. However, they do not list their homes on the MLS, which is the best way to get your home noticed. This can make it harder to find a buyer, especially if you are looking for someone local. It also means you will pay the same commission as a traditional realtor.
REX has a lot of good reviews, but there are also a few bad ones. Many positive reviews are on third-party sites, such as Yelp. But there are also two 1-star reviews, which raises a few red flags.
REX is known for advertising a few over-the-top claims, such as reducing your buyer’s agent commission by up to 2.5%. Although this is an impressive claim, it is a bit over-the-top for the company.
Customer service
When you sell your home using REX, you sign up for a unique real estate experience. Not only does this company help you find a buyer, but it also enables you to navigate the process. This includes coordinating showings, open houses, and even negotiating the sale of your home.
The REX customer service team can be a little disorganized. You might have to tell the same information to several employees, which can be a source of frustration.
REX has several competitors, including Redefy and Clever Real Estate. While REX offers a commission-free service, they do not provide reduced listing fees. However, they have been known to negotiate lower rates with traditional agents.
Choosing between REX and another brokerage is mainly up to personal preference. The most important thing is to compare listings and pricing to see which service will give you the best value.
Business model
In addition to its services, REX has a specific business model. This model aims to help home sellers reduce the costs of realtor commissions.
The company claims that it saves billions of dollars each year for its customers. It uses technology to streamline the buying and to sell of a home and keep track of both buyers and sellers.
Currently, the company has licensed agents in all states that it operates. They are salaried employees, incentivized to work hard for their customers.
When listing a home, the company charges a 2.5% commission fee. The fee covers all transactions. However, it does not include the buyer’s agent commission.
The team at REX works with sellers from when they list the house to when they close. It also helps them counteroffers and works through logistics.