David Popoff, Realtor®,SRS, Green ~ Fairfield County, Ct (DMK Real Estate )

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Rainmaker
4,181,682
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

There's always one of those popping up. I have a transaction now where I'm representing the seller, but buyer decided he didn't need his agent. He is getting a big lesson in what it takes to buy a house without representation and without help. I doubt he'll do it again.

Jun 25, 2018 06:04 AM
Rainmaker
612,066
Eve Alexander
Buyers Broker of Florida - Orlando, FL
Exclusively Representing ONLY Orlando Home Buyers

a total idiot...this is what he says:

Don't I need an agent to serve my best interest?

 

No. Your REX Agent is a fully licensed agent who will represent all of your needs and interests. Often homebuyers believe their interests are being served because they have separate representation; however, traditional buyers' agents are paid by the home seller. This formula has always served agents over consumers' interests. 

 

Jun 25, 2018 07:31 AM
Ambassador
1,766,421
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

Yes, trust the agent representing the seller.  That sounds like a great idea.  NOT!

Jun 25, 2018 06:59 AM
Rainmaker
4,093,821
Richard Weeks
Dallas, TX
REALTOR®, Broker

This too shall pass

Jun 25, 2018 06:11 AM
Rainmaker
4,142,353
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Yes. They are in California.  There are many different business models and many different consumers. 

Jun 25, 2018 06:08 AM
Rainmaker
1,928,258
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

Nope, that's a new one on me David Popoff . Thanks for the "heads-up".

Jun 25, 2018 07:58 AM
Ambassador
4,312,006
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

I haven't heard of this one but, these seem to be popping up weekly, David.

Penny wise & pound foolish - there are those types all around us! 

Jun 25, 2018 07:48 AM
Rainmaker
1,256,437
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Yes and it's ludicrous.

Buyers pay no fees, so what are they saving? Nothing!

Jun 25, 2018 07:36 AM
Rainmaker
54,890
Jordan Ayan
The Lifestyle Collection - Scottsdale, AZ
Luxury Market Expert, CLHMS,Million Dollar Guild

Caveat Emptor!

Jun 25, 2018 07:11 AM
Rainmaker
894,047
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

The Evil Empire, with the support of major franchises, mega agents, and teams have established dominance through misrepresentation, deception, false data and stolen intellectual property. 

Why would anyone object to a 'save money - live better' message.

This initiative is based on the knowledge that the true real estate professional will 'suck it up' and do whatever is needed to get the job done.  Those who are bold enough to defer their responsibilities onto the true professional will benefit.

Now, the real question is, 'What will the professional do when they encounter the predator brokerage/agent?"

Agents tolerated Zillow. Agents tolerated Redfin. Now we've got RidEx Real Estate. What to do? 

Being a REALTOR and local association member, the agent will find their options very limited.

 

Jun 25, 2018 06:46 AM
Rainmaker
5,572,197
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

I have not heard of them, but it sounds like we're going back to "buyer beware" without any representation...

Jun 25, 2018 05:58 AM
Rainmaker
1,707,423
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Flavor of the month.

Jun 25, 2018 05:58 AM
Ambassador
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Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

I have not ... until NOW.  That's an interesting twist!

Jun 25, 2018 08:18 AM
Rainer
331,852
J.R. Schloemer, CRS
Kentucky Select Properties - Louisville, KY

Hook, Line, Sinker! 

Sad that a listing company is masking the truth that the fee is negotiated between the seller and the broker, & the buyer has no say in the matter. So if they are waiving representation they are just giving more money to the listing representative. They are not saving and they are not being best served in this scenario. 

Sounds like a broker that just does not want to represent buyers, so they are willing to throw the purchase side for their sellers out the window.

Jun 25, 2018 08:02 AM
Rainmaker
690,025
Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

Someone always looking to reinvent the wheel.

Jun 25, 2018 06:15 AM
Rainmaker
1,394,769
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Yes, we've had them out here in SoCal for a while.  Very few of them sell.  They are basically a fancy version of "Help-U-Sell" but with the key difference that they are not members of the MLS and do not cooperate with other agents.  They rely on facebook ads to sell the house and if an agent does bring an offer they have to talk their client into writing the commission into the offer and/or paying them directly.

Jun 25, 2018 10:39 AM
Rainmaker
904,047
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Might as well call it T-Rex because it'll be with the dinosaurs soon.
Bang a Gong!

Jun 25, 2018 10:14 AM
Rainmaker
534,922
Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

Never heard of them ... just another jack in the box -- Pop Goes The Weasel!

Jun 25, 2018 09:25 AM
Rainmaker
1,730,820
Lyn Sims
Schaumburg, IL
Schaumburg Real Estate Agent Retired

REX homes will never be on the MLS .... well that is just gosh darn stupid. Good luck with that business model.

Jun 25, 2018 08:54 AM
Ambassador
4,609,313
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Yep they are here in California. Ran into a listing here in Carlsbad last fall. They don't use the MLS either.

Jun 25, 2018 08:08 AM
Ambassador
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Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Sellers agents have been trying things like this for years in an effort to double end a deal.

Jun 25, 2018 07:56 AM
Rainmaker
855,474
Pete Xavier
Investments to Luxury - Pacific Palisades, CA
Outstanding Agent Referrals-Nationwide

Small market share potatoes, not concerned (if I where an agent), but buyers who buy through them should be.

Jun 25, 2018 06:47 AM
Rainmaker
2,030,230
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

This is a continued erosion of the need for Representation and to pay our Brokerage Fee

Jun 25, 2018 06:15 AM
Rainmaker
5,653,702
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

David,

They keep popping up, model after model!

Jun 25, 2018 06:11 AM
Rainmaker
710,234
Richard Bazinet /MBA, CRS, ABR
West USA Realty - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

Surely to soon bite the dust...

Jun 25, 2018 06:07 AM
Rainmaker
4,269,408
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Not heard of them, but sounds like they might be moving into litigation territory soon!

Jun 25, 2018 08:42 AM
Rainmaker
3,340,095
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

It is a huge liability and what comes to mind is buyer beware. It could hurt more than help most buyers

Jun 25, 2018 08:16 AM
Rainmaker
4,433,753
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

No.

Jun 25, 2018 06:51 AM
Ambassador
2,078,967
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

Famous last words. 

Jun 25, 2018 10:07 AM
Rainmaker
1,961,595
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

I have not.

Jun 26, 2018 08:21 PM
Rainmaker
6,677,963
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Nope.

Jun 25, 2018 02:05 PM
Rainmaker
527,095
Dave Halpern
Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

Oh look! A shiny new object!

Jun 25, 2018 01:28 PM
Rainer
87,870
Jeff Perlis Prime Properties
Prime Properties - Lake Arrowhead, CA
Experience Your Own Transformation!

Good luck to all of those that decide to use them.

Jun 25, 2018 01:16 PM
Rainmaker
340,175
Mott Marvin Kornicki
Waterway Realtors® • Notary Public & Apostille - Sunny Isles, FL
Miami Notary & Apostille 786-229-7999

I went over to the REX site and do believe that it could work in certain markets. They also offer buyer representation :-/ Seems like their agents in the states where they are licensed are being paid a salary not a percentage or/of commissions. Truthfully there is NO savings guaranteed - especially if a property is overpriced to begin with.

They probably are members of each MLS to scour the database for expired listings.

Jun 25, 2018 12:18 PM
Rainmaker
1,158,087
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

I saw one popped up in my neighborhood a 2% company. Then I saw a sign PENDING quickly. Not mls based. 

Jun 25, 2018 10:44 AM
Rainmaker
1,123,398
Gloria Todor
Berkshire Hathaway Home Services - Newtown Square, PA
& Doug Durren (484) 431-3686 in SE PA

 David Popoff Just heard them advertized here on a Philadelphia station and was curious to see if talked about here on AR.

Mar 27, 2019 05:31 PM
Rainmaker
5,001,273
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Never heard of them. 

Jun 28, 2018 07:18 AM
Rainmaker
4,053,320
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

No way, that is a new one on me.

 

Jun 26, 2018 11:03 AM
Rainmaker
4,799,601
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

A recipe for disaster.

Jun 26, 2018 05:12 AM
Ambassador
4,314,394
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

David Popoff - this is the first time I am hearing about.

Jun 25, 2018 10:42 PM
Rainmaker
3,510,318
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Hello David, I heard about rexcharge.com. I don't have extensive information about this new company.

Jun 25, 2018 10:03 PM
Ambassador
3,044,286
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

they can't trust me as a seller's agent all they want, but that won't save them any money.  My listing agreement pays what it pays if I sell it or if someone else sells it, buyers got NOTHING to do with that.

Jun 25, 2018 08:59 PM
Rainmaker
3,985,928
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Always someone with a gimack

Jun 25, 2018 08:13 PM
Rainmaker
2,649,048
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

The same old same old....money solves everything. Thats why the courts are clogged....

Jun 25, 2018 04:40 PM
Rainer
92,032
Jon K. Judd
Keller Williams Realty - Central Delaware - Dover, DE
GRI, e-PRO, SFR, Delaware Homes

Think they started around 2015... and as I understand they have made it to the east coast too... NYC (I think)...  

Jun 25, 2018 04:35 PM