Rex is a peer to peer open real estate platform that connects vendors, buyers, and agents together. Here’s our Rex review.
What Is Rex?
Rex is a multiple listing service (MLS) website that lets you buy, sell, or lease property around the world. The online form at the top of Rex’s official website lets you search for properties by country or address, and choose whether you’re seeking commercial or residential space.
Rex is built on a peer-to-peer system. You can view the alpha version of the platform today by visiting alpha.Rexmls.com.
The goal of Rex is to connect vendors, buyers, and agents over a fast, flexible, and free global listing network. You can search for properties to buy around the world, from commercial to residential spaces. Whether you’re looking for a vacation home or an international office, Rex can help you find it – at least, that’s the goal. Rex can also manage leases.
With the help of Rex, you can avoid the monopolized world of real estate listing websites. Obviously, Rex isn’t the first peer-to-peer platform to enter the real estate industry. Like others, it’s seeking to disrupt one of the world’s most valuable industries.
Rex was made in Switzerland, the United States, and Australia. The platform is built on the blockchain and uses digital currency to incentivize users.
What Problems Does Rex Want To Solve?
Rex’s official website claims that the traditional methods used to buy and sell real estate have failed to keep pace with public expectations and advances in technology.
Participants in the property game are forced to deal with online listing services that charge excessive fees – all while being bombarded with intrusive advertising.
Today’s MLS sites monopolize the market. They dictate fees and conditions, and they capture vast amounts of personal data that they sell to advertisers for higher profits.
Rex sees itself as a solution to all of these problems. It’s a democratization of online real estate services. It plans to disrupt an industry that sorely needs to be disrupted.
How Does Rex Work?
Rex allows sellers to list properties for free. Buyers can also search properties for free. Transactions take days, not months, and users are paid to participate on the platform.
The three core features of Rex’s MLS service include:
- Search: Search real estate listings around the world for free.
- List: Get paid to contribute data to the platform.
- Transact: Make transactions in days, not months.
The goal of the platform is to connect vendors, buyers, and agents over a powerful open network. To do that, Rex has implemented three core technologies, including the blockchain, data distribution, and digital currencies.
Using the blockchain, Rex builds a digital ledger of transactions and shares it among decentralized nodes. Blockchain technology also makes data storage cheaper. Data is decentralized and stored around the world instead of in a single location. That’s why Rex can afford to be free.
Rex has no paywalls or access restrictions. Anyone can access the platform from anywhere in the world, and both viewing and listing properties is free.
The first goal of Rex is to build the database. Then, the platform will implement database filtration using human curation and machine learning. Finally, they’ll implement title, escrow, and financial processes into the platform. The last step is to enable real estate transactions and tokenized ownership through the platform.
Rex was created by Stephen King (Principal and Co-Founder) and Russel McLernon (Principal and Co-Founder). King has led a New Jersey real estate group since 2013 and participated in tens of millions of dollars in real estate transactions, while also working on real estate technology startups. King is also the founder of the Princeton Ethereum Meetup. McLernon, on the other hand, is a technology strategist with 15+ years of enterprise software development experience.
Rex lists its locations as Zug, Switzerland; Princeton, New Jersey; and Sydney, Australia.
You can contact the developers by email at [email protected]
Rex is a real estate listings platform that recently launched its alpha online. You can access that alpha by creating an account today. Anyone from anywhere in the world can list and search property listings through the Rex online platform.
To learn more about Rex’s MLS service, visit RexMLS.com today.