California’s REX Real Estate Plans Expansion into Dallas

REX Real Estate Exchange operates outside the multiple listing service and offers low fees for its services.

REX Real Estate

A Woodland Hills, California-based real estate brokerage that operates outside the multiple listing service is planning to enter the Dallas market some time in the third quarter this year.

REX Real Estate

Jack Ryan

REX Real Estate Exchange recently launched in Austin.

“We are extremely proud to be expanding REX into Dallas this year,” REX co-founder and CEO Jack Ryan said in a statement to Dallas Innovates. “When we started this company, our goal was to help home buyers and sellers avoid excessive costs associated with the traditional agent-based model, deliver better service, and do good.”

REX is known for placing a robot in each property that answers questions from visitors and gives out information.

The Wall Street Journal reported that REX’s founders, including Ryan, believe that robots along with big data analytics and artificial intelligence will disrupt the traditional real estate model. REX is one of several real estate firms nationwide that have begun using robots.

Ryan said the company has had “great success in New York, California, and Austin, and are eager to begin assisting sellers in Dallas as well.”

REX Real Estate

REX Real Estate Exchange is planning a Dallas expansion. [Photo courtesy of REX Real Estate Exchange]

REX charges home sellers a 2-percent listing fee as opposed to the average industry rate of 5 to 6 percent.

Earlier this year, REX announced that it had raised $15 million in a Series B investment round, bringing it’s total capital to $30 million, Inman reported.

North Texas already has another real estate company named REX Real Estate in Frisco operated by owner Rex Glendenning.

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