Artificial intelligence the latest competition for real estate agents

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REX is one in a number of alternative tech-driven real estate brokerages that charges lower fees and diminishes the role of the real estate agent. That has put downward pressure on agent commissions across the industry.

However, the brokerage said it still employs a team of 22 agents across offices in New York, Austin, Denver and Southern California. Once a buyer or seller agrees to work with REX, a staff member meets with them and serves as guidance during the process, Ryan said.

A REX staffer will also show up at open houses, sometimes bringing along a robot. That robot is programmed to answer 75 different questions, many of which an agent may not know off the top of their head, such as: When was the pool last resurfaced or the roof last replaced? Exactly how long does it take to drive to school?

Agents guide buyers and sellers through the closing process, including evaluating offers or writing an offer, inspection, title insurance, and escrow.

“When you’re selling the most important asset of your life, you want to know there’s a person who cares about you in addition to the computer,” Ryan said.



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