End the Real Estate Racket
Stephen Moore writes for RealClearPolitics about REX's leadership driving pro-consumer distriuption in the real estate sector
REX continues to receive regular nationwide media coverage for its breakthrough pro-consumer messaging and tech alternative to the broken legacy real estate model.
Today, Stephen Moore writes that it's time to "End the Real Estate Racket." Moore explains that in the digital age "with online transactions becoming the norm -- the fees and commissions in most consumer industries like stock trading, travel agents and used car brokers have fallen due to online competition from the likes of eBay, E*TRADE, Etsy, Netflix, Uber and Airbnb. At-home shopping is practically costless. Yet the real estate price gouging has managed to stay mostly immune from these 'disintermediation' forces."
Moore calls out REX as a hopeful sign that industry reform is underway. "Technology upstarts like REX" he writes, "are trying to squeeze out unreasonable fees by suing states to end government-created rebate bans. If they succeed, agent fees would be slashed, and home shoppers of all income ranges would save thousands of dollars by negotiating better deals with the agents."
Moore previously wrote about the "Real Estate Racket" in this 2005 Wall Street Journal article.
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