Using artificial intelligence to save big when you sell your home

New technology can cut what you pay in commission

Selling your home can be daunting and expensive. A new company says it can sell your home faster and save you thousands of dollars in commission using the latest technology.

After 26 years Susan Beach and her husband decided to put their home on the market using a new real estate agency called REX. Susan says within hours of signing with REX, they already had potential buyers wanting to see their home.

“We got a text that a showing appointment has been scheduled," Beach said. "They give you choices of what time, and you pick one and it was like 'wow.'" 

Just like local real estate agents, REX agents post your home on places like Zillow and Trulia. Co-Founder of REX Jack Ryan said the company uses specific technology to pinpoint the perfect buyer and market your home to them through targeted ads.

“The difference is we can find the buyers because we make predictions about who the buyer might be for your home then drop ads on them,” said Ryan.

They work with companies like Crate and Barrel and Best Buy to research what potential buyers are shopping for or are interested in and tweak their ads accordingly.

“I know people think it’s too good to be true but that’s the miracle of technology today, which is you can target people exactly based upon their behaviors and people think is relevant ads,” said Ryan.

Not only do they claim to sell your home faster, Ryan said REX can save thousands of dollars in commissions. “We do everything a real estate agent would do but we do it for 2 percent not 6 percent or 5, 6 percent which can mean $30,000 or $40,000 to a person,” said Ryan.

Susan said what she saved will go toward their retirement.

Rex isn’t the only company offering this type of service. Homie and Faira also promise to cut down what you pay in commissions, while offering support services to help you sell your home.

 

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