Why The Real Estate Industry is So Excited about REX

5Y Ago
Why The Real Estate Industry is So Excited about REX “REX is the real estate global platform with the ability to transact real estate, share data, collaborate and communicate with trust. And you get paid to do it! I’m all in!” -Duke Long

By now, we’re all well aware of the vast potential of blockchain technology and the positive impact it may have on individuals and industries alike. But that potential coming to fruition is entirely dependent on blockchain-based projects proving their value by solving problems in the real world. REX — a global MLS listing platform that democratizes access and engagement with real estate data — presents an excellent example of developers using blockchain technology (in this instance Ethereum and the Interplanetary File System) to transform an industry with a simple solution and a clear roadmap.

With last week’s release of the REX Pre-Alpha and the impending token sale launch on July 31, anticipation for REX has reached new highs, and this extends to the real estate industry as well the blockchain community. Property developers, investors, realtors, brokers, appraisers, buyers, and sellers alike can all see the value that REX brings to their own work, and the project has found eager supporters in every corner of the real estate industry.

“Real estate agents are thrilled about the launch of REX,” says Jill Chodorov Kaminsky, a real estate agent in Washington DC and New York City, and a frequent contributor to The Washington Post. “Whereas Zillow is a bait-and-switch operation interested in its own bottom line, REX rewards agents for uploading property listings to the REX database.”

Chodorov Kaminsky’s steadfast support of REX is indicative of a much wider trend in the real estate industry of professionals acknowledging that what’s currently available in terms of listing platforms is failing them, and that REX presents a very real path to a solution. “Zillow has hijacked us, and it’s time to take back control. Real estate agents are ready for a new option for promoting their listings,” says Chodorov Kaminsky. “REX is launching at a perfect time, when agents have had enough and are ready for change.”

“The fragmented, outdated MLS listing infrastructure is, hands down, the biggest inefficiency in the whole real estate industry,”

agrees Hassan Khawaja, a real estate appraiser from California. “I use MLS services every day, and an option like REX that is more affordable, accessible, and fair than what’s currently out there would be a major advance. Every appraiser I know would be very eager to get on board with a project like REX.”

This enthusiasm is evident from local mom-n-pop business to major international enterprises. “As a Real Estate professional focused on international transactions, the time couldn’t be better to get involved with a Global MLS,” says Maria Vidal, co-founder of LAUDOX a global real estate specialist. “Embracing a global community of real estate practitioners is not just a bright idea but a one in need. There are projects around trying to bring solutions to some non-existing problems yet. REX, instead, brings a different option to the real estate market. It’s a real use case for the industry.”

With decades of experience in both real estate and IT, the REX team is perfectly positioned and finely tuned to bring a blockchain upgrade to the real estate industry. But perhaps even more importantly, founders Stephen King and Russell McLernon have signalled a long-term vision that is a reasonable as it is revolutionary. “I understand the project under a long-term vision,” says Maria Vidal.

“I believe the team has reached a significant amount of understanding of the potential this technology offers but, moreover, a great understanding of what to do and what not to do. If you ask me, I’m in.”

“Finally, a business model that will democratize and change real estate forever,” says Duke Long, a twenty year commercial real estate broker, owner, investor, developer and host of the ‘CRE With a Little Attitude’ podcast. “REX is the real estate global platform with the ability to transact real estate, share data, collaborate and communicate with trust. And you get paid to do it! I’m all in!”

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