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Business Chief USA August 2019

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CLICK TO WATCH: ‘JACK RYAN, CEO OF REX, INTERVIEW ON BUSINESS ROCKSTARS’<br />

75<br />

and an economically stratified population,<br />

there are several promising<br />

startups looking to harness the power<br />

of cutting-edge technologies to enable<br />

Los Angeleno home hunters.<br />

REX REAL ESTATE<br />

Utilising artificial intelligence (AI) and<br />

machine learning (ML) solutions, REX<br />

Real Estate aims to help buyers and sellers<br />

bypass the expensive Multiple<br />

Listings Service process used by real<br />

estate agents, marketing houses directly<br />

to consumers. Founded in 2015, the<br />

startup is based in Woodland Hills,<br />

on the border of the Santa Monica<br />

mountains. Aiming to disrupt the traditionally<br />

expensive and sales-focused<br />

real estate industry, REX pays its<br />

agents larger salaries and incentivises<br />

them based on customer satisfaction,<br />

rather than the rapid closure of deals.<br />

Unlike traditional real estate brokers,<br />

REX charges a flat commission of 2%,<br />

rather than the usual 5-6%.<br />

The company also has a strong<br />

sense of social responsibility; for every<br />

50 homes sold, the company donates<br />

one to a family in need, building homes<br />

in Cambodia and Columbia.<br />

www.businesschief.com

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