REX Launches Real Estate Industry's First Virtual Showings App, Brings Automated Scheduling and Instant Virtual Access To The Homebuying Experience

***MEDIA AVAILABILITY FOR Friday, June 5, 2020 at 1:30 pm EDT / 10:30 am PST***

WHAT: Join REX Chief Technology Officer Andy Barkett for the unveiling and walkthrough of REX's new virtual showings application. The feature expands the options interested real estate buyers have to learn about a listing, schedule a virtual tour with an agent, and instantly tour the property from the convenience and safety of their couch or mobile device.

As of today, the application offers interested buyers the following tools:

(1) Schedule times to tour the home with a REX agent.
(2) Automate calendaring for the upcoming tour.
(3) Buyers can immediately view a pre-recorded 3D tour of the property.
(4) The seller and buyer can connect directly via a handheld device tour of the property.

In mid-March 2020, REX began developing the application immediately after California's stay at home Executive Order was issued to address the COVID-19 pandemic. Since that time, the application has been successfully tested with buyers and sellers nationwide. Standardized virtual showings and automated scheduling features are now live for the general public to use at rexhomes.com.

WHO: Andy Barkett is REX's Chief Technology Officer and has been at the company since April 2017. With more than a decade of experience in engineering and technology, Barkett is helping REX transform and disrupt the residential real estate industry by fundamentally changing the way homes are sold through AI, machine learning, data integration, and digital marketing. Prior to joining REX, Barkett served as Senior Manager, Production Engineering at Facebook as well as Technical Program Manager at Google. He manages REX's data science, engineering, and product management teams out of the company's Redwood City, CA offices.

WHEN: Friday, June 5, 2020 at 1:30 pm EDT / 10:30 am PST
Brief virtual walkthrough by REX CTO Andy Barkett followed by Q&A.

WHY IMPORTANT: REX's virtual showings application is the first of its kind in the real estate industry, adding greater efficiency and consumer control over how to shop and buy a home. The application combines local agent's knowledge of the property, immediate access to the tour and convenient scheduling options.

REX is a real estate technology company delivering a full-service online platform for residential real estate buyers and sellers and the lowest transaction costs in the industry. REX knew consumers would demand greater convenience and safety in today's market and this foresight is paying off right now. A quarter of the homes in escrow at REX in Q1 2020 are coming from buyers who only toured the property virtually.

Learn how REX,

HOW: Please RSVP with Colin Maynard, cmaynard@rexhomes.com

The press briefing will run via Zoom: https://rexhomes.zoom.us/j/96848954592?pwd=OFpLQnhmaytKdzh3anhvQzRMS05Tdz09
Password: 949790
(joining online is the easiest way to ask questions during the Q&A)

Participants can also dial in via phone by calling the following number below with the corresponding meeting ID: +1-669-900-6833,,96848954592# or +1-253-215-8782,,96848954592#

QUOTE BY ANDY BARKETT, REX CHIEF TECHNOLOGY OFFICER:

"The launch of REX's virtual showings application is a massive step forward in how Americans shop for homes. COVID-19 introduced virtual tours to the real estate consumers everywhere, but there was already a natural push by interested real estate buyers to search for homes online.

This has been a very chaotic experience for consumers thus far - and we immediately knew we had to build a standardized, easy to use tool at REX. Since Americans began sheltering in place in early 2020, the broader user experience has been very inconsistent with agents trying to schedule time to get in the home, driving to the property and accessing the home itself, and attempting to connect with the buyer via any number of video chat apps - sometimes without WIFI connectivity and spotty streaming footage.

At REX, we see the virtual showings application giving consumers that efficiency and safety they need right now. Everyone is talking about where real estate goes after COVID-19 and I think we are going to start seeing tools focused on giving consumers control over the real estate transaction."

ABOUT REX:

REX, with headquarters in Austin, TX and offices in both the Bay Area and Los Angeles County regions, combines AI technology, superior user experience and market expertise to connect residential real estate buyers and sellers online and give consumers the lowest transaction costs in the industry.

REX matches buyers and sellers directly through the company's online platform and charges a total fee as low as 2%, instead of the 6-6.5% fee lost to traditional brokers. Buyers who use a REX agent to purchase a house sold by REX Homes typically benefit because the seller isn't forced to pay a buy-side commission. If the buyer purchases an MLS home through REX Homes, the company returns 50% of the fee to the buyer. This translates to tens of thousands of dollars saved for customers on both sides of a real estate transaction.

With market experts and attached services partnerships in place across the United States, REX Homes launched in 26 new markets in seven short months. In addition, REX has amassed over 90 state regulatory licenses and is successfully attaching high-margin services including mortgages, escrow and title, insurance, relocation packages, and others. As of June 2020, REX is operating in seventeen states nationwide, including Arizona, California, Colorado, Florida, Georgia, Illinois, Maryland, Massachusetts, Nevada, New York, New Jersey, North Carolina, Oregon, Pennsylvania, Texas, Virginia and Washington DC.

Press Contact: Colin Maynard; cmaynard@rexhomes.com; 916-834-4274

/PRNewswire -- June 4, 2020/

SOURCE REX Homes