and an economically stratified popula-
tion, there are several promising
startups looking to harness the power
of cutting-edge technologies to enable
Los Angeleno home hunters.
REX REAL ESTATE
Utilising artificial intelligence (AI) and
machine learning (ML) solutions, REX
Real Estate aims to help buyers and sell-
ers bypass the expensive Multiple
Listings Service process used by real
estate agents, marketing houses directly
to consumers. Founded in 2015, the
startup is based in Woodland Hills,
on the border of the Santa Monica
mountains. Aiming to disrupt the tradi-
tionally expensive and sales-focused
real estate industry, REX pays its
agents larger salaries and incentivises
them based on customer satisfaction,
rather than the rapid closure of deals.
Unlike traditional real estate brokers,
REX charges a flat commission of 2%,
rather than the usual 5-6%.
The company also has a strong
sense of social responsibility; for every
50 homes sold, the company donates
one to a family in need, building homes
in Cambodia and Columbia. CLICK TO WATCH: ‘JACK RYAN, CEO OF REX, INTERVIEW ON BUSINESS ROCKSTARS’
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