AUSTIN, Texas (MO.Properties) – REX, the technology company connecting real estate buyers and sellers online, announced the expansion of Home Prep, a program which works with homeowners looking to list their property and covers interest-free home improvement costs. The program was successfully piloted in Southern California during the COVID-19 pandemic, with new plans to launch in select Texas, Northern California, and Florida markets soon.
How It Works
Sellers now have enhanced ability to present their listing in its best light. Interested sellers will follow a series of steps to prepare their home for listing:
Personalized recommendations: After learning about the home, a REX advisor recommends customized improvements to make. These possible improvements may include deep cleaning, repair, painting, lawn care, flooring, moving and storage, and/or staging.
Seller’s approval: After reviewing the REX advisor’s recommendation list, complete with quotes to ensure transparency, the seller selects and approves the home preparation they would like to invest in.
No upfront cost: REX covers the upfront improvement costs up to 1% of the home’s value, capped at $10K, only to be recouped when the home sells or the listing agreement ends.
Trusted partnerships for completion: After sellers approve recommended home prep, REX and our vendor partners execute the tasks. REX’s trusted partners are thoroughly vetted to ensure high quality of work. The process puts sellers in the driver’s seat, helping them tailor their listing to their objectives and the local market
The Importance of Home Prep
Increased affordability opens the door to listing: Oftentimes, the cost associated with readying a home for the market prevents sellers from listing. HomePrep eliminates this obstacle by covering upfront improvement costs, only to be paid back after the successful sale of the home or the end of the listing agreement.
Developed and trusted partnerships: REX’s vendor network represents an organization of licensed, insured, and high-quality home services companies. Homeowners no longer have to search online, reading reviews of dozens of service providers; REX vets each of the companies we work with, ensuring and upholding a high standard for home services work for our customers.
Smart spending: With their REX advisor’s prudent recommendations, sellers know that they are spending money smartly. REX’s dedicated team provides specialized recommendations that will market the home as best as possible.
Another addition to REX’s suite of services: HomePrep is an enhanced strategy tool for REX sellers, and another feature that traditional brokerages do not have.
What Others Have Said
“The Home Prep pilot program is an exciting step; it makes the home selling process with REX that much easier and more robust. We’re empowering home sellers to repair, stage, and prepare their home as needed — in ways both big and small — to boost their listing on the market, and expedite the transaction” said Lynley Sides, Co-Founder, COO and President of REX.
“From an operations perspective, Home Prep is a smart next step in our home selling process. REX and our trusted partnerships with staging, repair, and home services companies will deliver exactly what our sellers need, and Home Prep’s increased affordability will benefit REX sellers, home buyers, and REX,” said Allison Park, a Sales and Business Operations Manager at REX.
“The REX Home Prep program is really helpful. It is great for small upgrade projects to enhance the house value and also it is advantageous to have the cost deducted from the sale [with] no upfront cost,” said Arete Shen, a Home Prep customer from Pasadena, CA.
“REX upfronting the costs was a big factor, I otherwise wouldn’t have done the work in my front yard. I went from average to really really nice. It brings more security and confidence to know that this home is not going to be on the market for a long time. I’m so happy with it,” said Shane Mussey, a Home Prep customer from Thousand Oaks, CA.
REX (rexhomes.com) is upending how Americans interact with real estate — from buying and selling processes to managing all aspects of your home’s maintenance and upkeep. REX is dramatically lowering costs and improving processes in real estate to help consumers unlock the wealth in their homes.
We’re headquartered in Austin, TX and run by engineers, data scientists, and market experts with prior experience at Google, Facebook, Amazon, and Apple. Our team crafts a custom plan for each client which can draw from a suite of services such as appraisal, repairs, photography, staging, listing and marketing the home, search, virtual tours and in-person showings, escrow, mortgage, title, insurance, moving, and even ongoing repairs for new homeowners.
REX works as a partner in the global fight against housing insecurity, and was built on the foundation of creating opportunities for others and giving back. For every 50 homes sold at REX, the company builds a home for a family that would otherwise be unable to realize the dream of homeownership.