REX, the most effective and least expensive way to buy and sell a home, announced today it had secured Series C funding of $45 million.
REX is the first licensed residential real estate brokerage to successfully circumvent the outmoded MLS real estate agent model through its use of AI and big data. The Series C proceeds will be used to accelerate REX’s national expansion and add to its service offerings.
REX offers a fixed two percent commission covering both sides of the transaction and a professional team handling everything from listing to close, including escrow, titling, mortgages and insurance shopping. REX reduces the complexity and stress of home buying and selling while saving consumers an average of 60 percent on what they would pay a traditional agent.
“REX is delivering a residential real estate solution in step with how consumers actually behave and what they actually want,” said REX investor Scott McNealy, co-founder and former CEO of Sun Microsystems. “REX has expanded rapidly and has been managing its business with incredible focus, and we’re delighted by the way home buyers and sellers across the U.S. are responding.”
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