Your dedicated point of contact will actually be an Account Manager, not your Lead Agent. In 8 days I had 3 offers and went under contract. We find the home first. Like others, we were fearful of placing our 93 year old mother in a care facility but had no other option when she could no longer walk. If you're looking to buy or sell a house and weighing your options, Clever can help! 6 months later only one person even showed any interest! Their innovative approach to real estate allowed us to sell our house within days of putting it on the market. the buyers agent called us because she could not get in touch with our listing agent. Home Selling with REX is Simple by Eric Rothman 0 comment REX has created an easy, step-by-step selling process to change the way we buy and sell homes today. REX Real Estate does not offer Buyer's Agent Commission (2.5%-3%) split to buyer’s agents and does not list seller’s homes on the MLS. Major conflict of interest. Press alt + / to open this menu. According to REX's terms and conditions, your purchase will qualify for a rebate only if all of the following are true: Alongside REX's eligibility criteria, there are usually a heap of terms and restrictions surrounding commission rebates. REX claims its fee covers âboth sides of the transaction,â which makes it the âlowest fee in the industry.â This is misleading. If the above were true, thatâs REX admitting to underpricing its homes. There is an added value behind MLS exposure when listing homes for sale in the United States, something that REX Real Estate does not offer. The potential savings are significant, but so is the inherent risk. Just make sure you do your due diligence and compare it objectively with several other options to get the optimal outcome. Nursing Home Reviews for Rex Rehab & Nsg Care Center. Unfortunately, thereâs a bit of a problem with this logic: Itâs the exact opposite of what REX is telling its sellers! REX is one big team and EVERYONE lives by that principle, it's not just an empty slogan! Note: Just because REX services your area, it doesn't mean they have an agent there! We were in contract with Rex from July to November 2019. When I went home I contacted them, it took two days for them to respond to me. Others will be relatively novice and/or less committed. representation. Constantly failed to reply to emails or offers so you have to stay on top of them. Read your listing agreement carefully! Also, make sure youâre hiring the agent or service that will get you the best price for your home â not just charge you the lowest commission. So what do customers have to say about working with REX Real Estate? REX Real Estate offers savings to sellers with a commission set at 2%, and buyers a 50% commission rebate. Filters. Offering a commission for the buyerâs agent is never a requirement. Videos. Of course, REXâs goal is for its $9,000 or 2.5% commission to be the ONLY fee you pay, but again, thereâs no guarantee And then I paid full price. I listed my home with these people for 8 weeks in the long beach area, when I had no showings I got suspicious. Realtor commissions â typically 5-6% of the homeâs final sale price â consist of fees for two agents: the listing agent, who helps the seller market their home, and a buyerâs agent, who brings one of their clients to purchase it. "REX Real Estate Better Business Bureau Profile. If youâre not interested in any of REXâs listings, REX will also help you buy homes listed by other brokerages. I cannot tell you how thoroughly our fears were dispelled. Try Cleverâs free agent-matching service today. Buy or sell your house with Rex Homes, a full-service real estate broker. When we close With them, they give us nothing. REX Real Estate service includes posting home on its own web site and MLS Aggregator services, professional photos and 3D images in addition to all typical services offered by a traditional real estate agent. » LEARN: Ultimately, whether itâs a good choice for you is going to come down to: The important thing to remember is that thereâs no obligation to move forward or commit when youâre interviewing different real estate agents or services. I own property and know real estate quite well. delays that could negatively affect your outcome. REX buyers are rare. REX is a totally legitimate company that has helped many people sell and buy homes successfully. that is true. Homes that sell for more will pay the advertised 2.5% rate. Please provide honest and constructive feedback about this business. We listed our home with Rex. With REX, your selling experience and outcome may vary considerably based on your location. Accept and Deliver All Offers and Counteroffers. Cutting out buyer’s agent commission is not unique to REX. REX was hands on and thorough. Log In. My only problem was when there was an open house, the Rex agent left no feedback. About. On the one hand, this could help you save thousands. Our Rex agent was very helpful with the selling process. Additionally, REXâs selection is limited. We offer affordable single and double storey home design options, house and land packages and knock down rebuild appraisals. Could not be happier. Upon submitting my first offer, we got it! Of course, with REX, the idea is that $9,000 or 2.5% commission will be the only fee you pay. 4.8 % vs 3.8%. They are NOT to be trusted! 483 people follow this . Rex Real Estate: vs. Yelp (2) Reviews* Yelp (83) 2%: Price: $95+ $10,000: Cost to Sell $500k Home: $95+ View: Product Page: View : Updated November 5th, 2020. Companies can never ask HomeOpenly to remove legitimate consumer reviews. SELL. Let us guide you through the process and match you with the home that is perfect for you and your family! in todays landscape you want things to move fast because who knows what the future might bring. TiborasaurusRex is an American rifle enthusiast whose precision-rifle tutorials have become an authority on long-range shooting & equipment selection. But that by no means guarantees its efficacy. If you buy from REX with your own agent, you will have to cover your agentâs fee out of pocket. Don’t waste your time and energy. I had better $ options. Just like a traditional realtor, REX doesnât charge any fees up front. Interview top agents, find the perfect fit, save thousands. If personalized service and support is a top priority, Clever can help. » MORE: More people involved in the sale also increases the risk of miscommunications, mistakes, and Agents donât work with non-serious buyers, and most serious buyers work with agents. Photos. Rex made my home look 10x better than my previous listing and gave me modern tips to get the best value in today's market. The buyer used an outside agent and both were satisfied with buyer agent fee (paid by buyer, not me!!) When comparing listing rates, Buyer’s Agent Commission amount is irrelevant and should never be used to “prop-up” the appeal of a competitive listing rate. I am currently locked into a contract that they won’t Release me from?. This is a HUGE disincentive. The only reason 2.5% - 3% buy-side commission is often recommended by other real estate agents is because it significantly increases listing exposure to potential buyers. However, this is a gamble: REXâs ads may get your home in front of prospective buyers, but this isnât Amazon. Read reviews, see agent listings, and contact for all your real estate needs. However, Through the time, Rex homes show us many options and alternatives with a satisfactory service selling my property, and offering a smooth experience. REX advertises a â2.5% total feeâ in exchange for many of the same services and support. Working with Jodi at REX made buying my home so much better than I initially feared. Clever will get proposals from the top agents in your area â and negotiate discounted rates of just $3K or 1%. I wanted to use REX to save on the commission general realtors charge. Now that we are two months with only two showings...I asked to cancel and was told I would have to pay them the 2% commission. This systematic misinformation is quite damaging to consumers who may not be aware of drawbacks associated with not offering the buy-side commission. A new company called “REX” is attempting to disrupt the real estate industry, and perhaps more importantly, displace the real estate agent. I requested a selling price quote of my house with them initially. Although my build is not … In theory, you could work with any discount brokerage or traditional realtor, not offer a buyerâs agent commission, They told us they are discount realtor and promised to give us discount if we bought with them. This team-based approach isnât for everyone. It has an A+ rating with the BBB and has been accredited since 2018. I feel bad for home sellers who list with this company! » MORE: Real Estate Service in Denver, Colorado. ", Are selling a highly desirable home in a hot market, Value hard savings over personalized service and support, Are selling a home worth less than $360,000, Have an older home or live in an area where there’s less buyer demand, Really value hands-on, personalized service and support, Don’t live within a reasonable drive of one of REX’s brick-and-mortar offices, Lowering its marketing costs, attracting customers by advertising low fees, Handling a higher volume of customers per agent than other brokerages, Upselling existing customers on additional REX offerings, like its mortgage broker, title, and insurance services, Potential savings are significant if REX manages to find you a buyer and the sale goes through, No MLS means less exposure for your listing, Buyers with agents may not want (or be able) to pay their agent’s fee out of pocket, $9,000 minimum fee means you may pay more than 2.5% depending on the price of your home, REX may impose a required listing term (typically 90 days) and penalty if you cancel early, You can buy a non-REX home with REX and potentially qualify to get up to 1.5% of the purchase price back at closing, When you buy a home from REX without your own agent, REX represents you, REX’s high-volume, team-based approach may negatively affect service quality and support. This proposition gives REX larger control of how company’s listing data is distributed and an excuse to claim additional savings against 6% commission, but the seller pays the real price with a highly limited pool of self-represented buyers. I was supposed to get a free trial but apparently I didn't find the trial but was on the prescription page or whatever, I wasn't tripping the first time and gave my credit card info but I still inquired about the free trial and I have the email. *Compared to a 3% listing fee at four different price points. The Registered Agent on file for this company is Lund Mogens and is located at 1210 Wales Dr., Fort Myers, FL 33901. REXâs $9,000 or 2.5% listing fee doesnât cover âboth sides of the transaction,â as the company explains on its website. REXâs entire value proposition is that it can help people sell their houses for top dollar AND avoid paying buyerâs agent commissions. Lenders wonât lend out more than the home is actually worth. Their agents were quick to meet our needs and always willing to go the extra mile. We're currently in escrow so this review may be a bit early, but I am over the moon that I will be getting getting thousands of dollars toward my closing costs simply for buying with REX! September 30, 2020. I only wish I used REX when I first listed. I cant comment on that because I will end my relations with rex and pay the extra 1% to get someone who wants to work with me in selling my home. Find discount brokers near you. REXâs pound-for-pound average listing fee "savings" (-$313) are by far the worst of any discount service. However, we were lucky because the agent who brought our buyer brought us someone who wanted it so badly that it was an easy process. We are now on week 3 of and the only website we can find with us listed as Active is Zillow. We truly deliver value and professional service to our customers in an industry that is simply trying to catch up with our kind of innovation that will dominate and redefine the real estate industry as it's been known for far too long. Worst company ever! The most common themes among positive REX reviews are: Though this NY-state seller was ultimately unsuccessful, they still had positive things to say about REXâs service, advice, and the quality of buyers brought by their REX agent: This first-time seller sold their home with REX in Denver, CO and appreciated how the REX Teamâs expertise, responsiveness, and kindness made the process less stressful: This seller had great things to say about the REX Team; however, after the onset of the COVID-19 pandemic, REXâs approach was unable to generate enough interest and they ended up selling with a different broker: The most common themes among negative REX reviews are: Lisa G. of Phoenix, AZ was frustrated by REXâs approach to marketing, customer service, and agent incentivization: This review comes from an agent who helped buyers purchase a REX listing. Further, REX Real Estate claims to save buyer's agent fee amount, but in reality, Buyer's Agent Commission is always defined by the seller and it is up to the seller how much she is willing to offer buyer's agent, not REX. What company charges the lowest commission? etc. I had a listing agent who was indifferent and I definitely believe that this people is not really motivated because they have a salary not a commission. The key disadvantage of using REX Real Estate is that it does not use MLS to advertise a listing property to other brokers. Yes they charge a flat rate fee and you could be saving thousands of dollars, but there is one thing they don’t mention, which can limit the buyers coming through the door and could leave you with no offers and disappointment. For sale by owner was a nightmare of realtors calling with false promises, then I listed with the town favorite agent who said I have to paint among other things or it will never sell. Reviews. At HomeOpenly we aim to make the opportunity of homeownership transparent, affordable and an open experience. One of the ways REX attempts to offset its discounted rates is upselling existing customers on other REX services â in particular, REX Home Loans and REX Insurance. They provide no updates to my myriad issues with my apartment yet have no problem taking my money. And the only fee a home seller pays is 1 percent at closing, a cost that is 80 percent less than traditional broker fees. REX Insurance may in fact turn out to be your best bet. They frowned upon my having my own realtor agent. REX Real Estate is a California, Texas, Colorado, New Jersey, and New York real estate listing agent, offers consumers listing savings and buyer’s rebates for select areas. Around 90% of buyers work with agents, and the MLS is the number-one tool agents use to find homes for their clients.