REX Launches AllHomes, Reduces the Price of Every Home in the US by Thousands to Tens of Thousands of Dollars

AUSTIN, Texas, Nov. 12, 2020 /PRNewswire/ -- REX, the company leading the digital real estate economy, announced the release of AllHomes, a new platform which lets users buy, sell, and manage their homes directly through REX's online suite of services. AllHomes immediately reduces the price of every home for sale in the U.S. by thousands of dollars and provides greater transparency to help home shoppers benefit from technology. A home shopper can search for any home in any way they want, and then come to the REX website to purchase it for less.

• Experience AllHomes live in Los Angeles on the REX website and download our app (iOS and Android) to experience it in other markets.
• Watch the AllHomes demo video with REX Chief Technology Officer Andy Barkett.

"AllHomes is a major step forward for REX, but most importantly for the American consumer," said Jack Ryan, REX's Co-founder & CEO. "Reducing the price of all homes by thousands of dollars helps more Americans realize the dream of homeownership and will boost the national real estate market. You can shop for a home any way you want, and then come to REX to buy it for less.

"It also increases job mobility, helps families move their children closer to better schools, and creates wealth through home investment. I am proud to see REX growing in leaps and bounds by building a consumer-first model."

Users Save Thousands of Dollars With REX

• Users save an average of $12,600 per transaction at REX — approximately $6,000 to $9,000 on the buy-side of the transaction after launching AllHomes.
• In fact, public data tracking national real estate sales show Americans could tap into $56 to $61 billion in savings each year if consumers utilized AllHomes and REX's suite of services.
• REX is already saving American consumers millions — approximately $26 million to date. New tech tools are creating value for REX consumers as the company continues to launch products and services such as AllHomes.

"Today's announcement kicks off a phased approach that will expand organic search on our platform and mobile devices beyond REX's home listings and incorporate virtually all residential offerings on the market at any given time," said Andy Barkett, REX's Chief Technology Officer. "Our developers are building an AI-driven ecosystem that matches consumers to homes that fit their specific needs while providing tools that streamline the entire experience. There is simply nothing like this in the industry today."

A Brand New Experience

• Search all homes, make an offer, and complete the transaction directly through AllHomes and with the help of REX's team of expert advisors, while staying at home if you would like.
• AllHomes' price comparison tool transparently helps users understand the line-item costs that go into buying a home and how they will achieve greater cost savings with REX than anywhere else.
• Complete all the tasks associated with the transaction in a full-service ecosystem unlike anything else in the industry, including shopping, virtual tours, making an offer directly from our mobile app, title, escrow, mortgage, repair estimation, remodel projects, and moving services. AllHomes is part of a suite of services at REX which improves savings, convenience, speed, safety, and security for our users - and allows the user to complete the entire transaction from the safety and comfort of their own home.
• Manage your home after move-in through REX, including landscaping, ongoing maintenance, and remodeling projects.

AllHomes is currently available in seven major real estate markets, with nationwide expansion planned for the future.

REX Model Puts Real Estate Consumers Back In Control

• Today's home shopping experience is painful and outdated. The search-to-purchase process is unnecessarily complicated and time-consuming. Most consumers independently start their search online. After putting in all the hard work to find the home they like, nearly all websites refer them off-platform to a third party traditional agent (sometimes, multiple agents) to complete the transaction. The traditional homebuying process can take months to complete and often introduces the buyer to numerous vendors along the way, many of whom are not transparent about their costs This exhausting journey ends with homebuyers families ceding valuable time and hard-earned money — just to get in the front door of the home they'd picked out months earlier, all on their own.
• Consumers are challenging the status quo in multiple lawsuits coast-to-coast and voicing their frustration with costs and lack of transparency. It's time for change, and REX is leading the way using the latest technology.
• COVID-19 has proven consumers need better tools to make real estate and home shopping easier. REX is experiencing rapid growth during the global pandemic by offering the greatest savings in the real estate industry and meeting consumers' specific needs with tools and services that make the real estate transaction fast, simple, and transparent.

About REX (rexhomes.com)

REX is upending how Americans interact with real estate — from buying and selling processes to managing all aspects of your home, including maintenance, landscaping, mortgage, escrow, title, insurance, and moving. REX is dramatically lowering costs and improving processes in real estate to help consumers unlock the wealth in their homes. We're headquartered in Austin, TX and run by engineers, data scientists, and market experts with prior experience at Google, Facebook, Amazon, and Apple.

REX works as a partner in the global fight against housing insecurity, and was built on the foundation of creating opportunities for others and giving back. For every 50 homes sold at REX, the company builds a home for a family that would otherwise be unable to realize the dream of homeownership.

What Others Are Saying About AllHomes and REX:

Scott McNealy, Founder of Sun Microsystems & REX Board Member:

• "This is a big moment for REX in presenting a vision for what real estate could, and should, look like if you put consumers first. AllHomes offers buyers incredible savings, but I am most interested in how it calls out what is broken in our current real estate industry - a lack of transparency and vastly outdated tools. As an investor and advisor to the company, I suspect consumers will be pleased with the way REX is shaking up the traditional real estate model."

Ed Forst, Chairman at Lion Capital LLP & REX Board Member:

• "Surfing for homes online has become an ordinary task as Americans are largely fluent with mobile apps and online real estate platforms. REX has paid close attention to what consumers are looking for and has built an ecosystem powered by AI, data, market expertise and convenience. With AllHomes, REX instantly expanded its reach to the entire United States home market. Not only can you select any home and save, but users have the ability to make an offer directly from REX's platform, finance the home, insure their investment, and complete repairs. REX will even help customers move into the home. This comprehensive approach is truly unique in the real estate space today."

Media Contact: [email protected]

SOURCE REX

Related Links

http://rexhomes.com

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