5 big challenges for REX Real Estate in 2021

The well-connected discount brokerage is trying to raise more funding and grow its business as it takes on industry behemoths NAR and Zillow. Continue reading

NAR-DOJ rule changes won’t come for months

Rules regarding public display of buyer broker commissions and lockbox access for non-Realtors were originally slated to take effect by the end of March. Continue reading

Listen: REX releases recordings of agent steering

One agent told the discount brokerage: “I won’t bother to show [the listing]. Who’s your local agent though because I’ll make sure to tell people not to work with them.” Continue reading

NAR claps back on commission attacks

The trade group’s president accuses commission detractors of duplicity “for a payout” under the guise of protecting consumers. Continue reading

Consumer groups support REX suit against anti-rebate law

The Consumer Federation of America and the Oregon State Public Interest Research Group argue that prohibiting rebates to buyers and sellers stifles commission competition and harms consumers. Continue reading

Study commissioned by REX claims commissions are deeply inflated

Real estate commissions are inflated by as much as $50 billion per year due to the lack of price competition created by having listing brokers set co-op fees for buyer brokers, according to the report in the Berkeley Business Law Journal. Continue reading

Zillow to hire more than 2,000 remote employees by end of 2021

The company announced on Thursday its goal to increase its employee rolls by 40 percent, largely by filling tech, mortgage and software development positions. Continue reading

Salaried brokerage REX raises $40M in funding

REX, a real estate brokerage that pays agents salaries and charges only 2 percent for listing commissions, has raised $40 million in a C1 funding round, putting it over the $115 million mark in total. Continue reading