Discount brokerage and tech company REX Real Estate, which uses artificial intelligence and big data to price homes, has expanded into the Atlanta market, according to a press release.
It’s the 27th market for the Austin, Texas-based company that aims to reduce fees paid by homebuyers and sellers.
REX pays a salary to licensed agents to manage the process and offers escrow, titling, mortgage and insurance to clients.
The company’s online dashboard and mobile app allow users to schedule showings, track offers and manage other aspects the transaction.
REX co-founder and CEO Jack Ryan characterized the service as “the future of real estate.”
“The REX model is better, cheaper and nimbler than what traditional Realtors offer,” Ryan said.
The company, which launched in 2015, has raised $115 million from private investors, including former Sun Microsystems CEO Scott McNealy, Best Buy founder Dick Schulze, Crate and Barrel founder Gordon Segal and Citadel founder and CEO Ken Griffin.