VoyageLA publishes “LA’s Most Inspiring Stories”. This week, VoyageLA featured REX and CEO Jack Ryan. Below is an excerpt from the article. You can find the full story here.
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Residential real estate has gone virtually unchanged for 50 years. Using big data, artificial intelligence, and machine learning, REX takes care of everything both buyers and sellers need, while removing traditional agent commissions of 5-6%. Our intelligent data-driven marketing, seamless transaction engine and licensed REX Agents sell homes faster, create better experiences, and yield huge savings for buyers and sellers. We are currently accepting homes in Ventura, Los Angeles, Orange County, San Diego, Long Island, Brooklyn, Queens, and are launching seven new cities in 2018 including; Austin, San Francisco, and Dallas.
From day one, REX has been committed to doing good things for real estate consumers and to providing homes for those in the greatest need, wherever they may be. For every 50 homes we sell, we provide a home for a family in need. We started by funding the construction of a home for a family in Cambodia at the end of 2015. In addition to funding homes, the REX team regularly provides hands-on support to local nonprofits that provide shelter to families. Most importantly, we have dedicated shares we own in the company to building more schools and homes for children who do not have them.
Has it been a smooth road?
It has gone much smoother than I could have ever imagined. When you are trying to radically disrupt a trillion dollar industry, there are always unexpected barriers. But, the unexpected upside and happy surprises have been much greater than I ever anticipated. As we have proven ourselves, every step has gotten easier. We have attracted some of the greatest minds from the greatest schools in the world to work for REX. For instance, we have partnered with the most successful entrepreneurs from the last twenty years to advise and invest in our company and help drive us forward. We have also been able to sell some of the greatest homes in the world. After just two years, we are about to list our 500th home, and will do $1 billion in transactions next year.