Regional News

REX Real Estate Exchange uses AI to compete in the market

By Editor 0 Comments NEWS, Regional News

Ron and Marilyn Hougardy recently hired an AI to sell their California home, not an agent.

The couple was motivated by the 2% commission they would pay the artificial intelligence-driven service run by REX Real Estate Exchange instead of the typical 5 to 6 percent paid to a human broker who would find buyers for them.

"It was kind of swimming upstream to make this decision, but we decided let's try it out," Ron Hougardy, a project manager, said. The home was listed for $880,000 and sold for $890,500 in January, he said.

The bidders for the Hougardys' home weren't found by an agent adding the home to a multiple listing service, which feeds that information to Zillow, Trulia and Realtor.com.

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