REX Sends Letters to Louisiana, Missouri and Tennessee on Real Estate Fee Rebate
Pro-Consumer actions follow REX lawsuit in Oregon and U.S. Department of Justice antitrust case against the National Association of Realtors for anti-competitive behavior
|Dec 4, 2020|
AUSTIN, TEXAS, December 4, 2020 — REX, the technology company positioned as the much higher service, lower-cost alternative to traditional real estate, today announced it has sent letters to state authorities in Louisiana, Missouri, and Tennessee related to these states’ nefarious policy banning homebuyers from receiving discounted real estate fees, which extracts $60 billion annually from all American consumers to enrich brokers and stifles competition.
REX seeks to create dramatically better outcomes and experiences for home buyers and sellers, and has worked to reform traditional real estate by highlighting the industry’s anti-competitive and anti-consumer practices. As a result of these efforts, on November 19, the U.S. Department of Justice filed an antitrust case against — and proposed settlement with — the National Association of Realtors (“NAR”).
REX also recently filed a lawsuit against the State of Oregon for banning real estate fee rebates. The lawsuit is yet another step in REX’s mission to benefit real estate consumers by shedding light on the NAR and its members' anti-competitive practices which put real estate agents ahead of consumers.
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