Rex Real Estate
Changing the way people buy & sell homes
Problem
The US Real Estate market is broken. The listings market is controlled by the National Association of Realtors and Multiple Listing Services fixing terms and limiting data sharing to the benefit of agents. If a seller decides to work without an agent or broker, they won’t have access to MLS and thus their home will have low or no visibility, even in online search engines.
For that reason, U.S. buyers’ and sellers’ commissions at 4%-6%are among the highest in the world.
Investment Rationale
REX is using artificial intelligence and big data to disrupt the traditional real estate brokerage model, providing dramatically better outcomes and experiences for home buyers and sellers at a 2% cost. The company is tackling one of the largest industries in the US, with a value chain extremely fragmented across traditional agents and brokers.
Founder alignment with the company mission, regulatory tailwinds targeting the main industry stakeholders for anti-competitive behavior, and the size of the opportunity made us build conviction to support REX.
