Compare Prevu and REX Real Estate

Editor's Rating

Users' Rating

Editor's Rating

Users' Rating

For Sellers

Listing Rate
1%
Commission
Minimum commissions and other terms may apply. Buyer's Agent Commission (2.5%-3%) is not included, but sellers may be able to negotiate this as well.

For Sellers

Listing Rate
2%
Commission
Minimum commissions and other terms may apply. Buyer's Agent Commission (2.5%-3%) is not included, because REX does not offer a split option to buyer’s agents. If a buyer approaches the seller’s listing with a buyer’s agent, the buyer will be responsible for Buyer's Agent Commission amount out-of-pocket.

For Buyers

Buyer’s Savings
67%
Commission Rebate
When Prevu represents home buyers, it contributes 67% of its Buyer's Agent Commission (2.5%-3%) to the buyer as a way to financially compete for a buyer’s business. Home buyers do not pay any taxes on the amount, the refund amount is always tax-free.

For Buyers

Buyer’s Savings
50%
Commission Rebate
When REX Real Estate represents home buyers, it contributes 50% of its Buyer's Agent Commission (2.5%-3%) to the buyer as a way to financially compete for a buyer’s business. Home buyers do not pay any taxes on the amount, the refund amount is always tax-free.
You are now comparing two different service models: Prevu is a full-service real estate agent while REX Real Estate is a full-service real estate agent
Compare Prevu and REX Real Estate for home buying and selling. HomeOpenly is an impartial and an open resource focused on trending real estate services, portals and start-ups.

First published: 17 February 2019
Last updated: 29 March 2020

Buying and Selling with Prevu

Prevu is a New York-based real estate broker that offers sellers listing savings and refunds buyer’s part of their commission.

Prevu Pricing

Prevu offers listing savings to sellers (1% listing rate) and buyer’s refunds (67% commission rebate)

Listing Services

  • MLS Listing
  • Zillow, Trulia, etc. Listing
  • Accept and Deliver All Offers and Counteroffers
  • Hold Open Houses
  • Professional Photography
  • Professional Floor Plans
  • Yard Signage Installation
  • Spare Key Lock-box Installation
  • Schedule Inspection Services
  • Schedule Private Showings
  • Closing Duties

Buyer's Agent Services

  • Find the Property
  • Accept and Deliver All Offers and Counteroffers
  • Recommend Other Professionals
  • Attend Inspection Services
  • Schedule Private Showings
  • Negotiate Needed Repairs
  • Closing Duties

Prevu Editor's Review:

Prevu is a consumer-focused real estate agent that successfully represents consumers in New York and offers sizeable savings. Prevu Agents are salaried employees who are not motivated by commission.

Prevu service includes posting home on the MLS and MLS Aggregator services, professional photos and 3D images in addition to all typical services offered by a traditional real estate agent.

For buyers, Prevu offers real-time listing notifications, on-demand home tours and a client web portal for monitoring the purchase process - making it easier to find and buy homes.

Overall, Prevu offers an excellent proposition to buyers and sellers alike.

Prevu Service Areas:

New York

Buying and Selling with REX Real Estate

REX Real Estate is a California, Texas, Colorado, New Jersey, and New York real estate listing agent, offers consumers listing savings and buyer’s rebates for select areas. REX Real Estate does not offer Buyer's Agent Commission (2.5%-3%) split to buyer’s agents and does not list seller’s homes on the MLS.

MLS-less REX significantly lowers home's exposure to buyers working with their own agent and misrepresents many advantages of using MLS to sellers.

Further, REX Real Estate claims to save buyer's agent fee amount, but in reality, Buyer's Agent Commission is always defined by the seller and it is up to the seller how much she is willing to offer buyer's agent, not REX.

The listing rate of 2%, that the company offers, must be compared to a "traditional" listing fee of 3%. In this comparison, REX Real Estate listing savings are only 1% less than a "traditional" listing commission.

REX Real Estate Pricing

REX Real Estate offers savings to sellers with a commission set at 2%, and buyers a 50% commission rebate.

Listing Services

  • MLS Listing
  • Zillow, Trulia, etc. Listing
  • Accept and Deliver All Offers and Counteroffers
  • Hold Open Houses
  • Professional Photography
  • Professional Floor Plans
  • Yard Signage Installation
  • Spare Key Lock-box Installation
  • Schedule Inspection Services
  • Schedule Private Showings
  • Closing Duties

Buyer's Agent Services

  • Find the Property
  • Accept and Deliver All Offers and Counteroffers
  • Recommend Other Professionals
  • Attend Inspection Services
  • Schedule Private Showings
  • Negotiate Needed Repairs
  • Closing Duties

REX Real Estate Editor's Review:

REX Real Estate is a consumer-focused real estate agent that, unfortunately, claims a lot more than what it actionably delivers. REX Real Estate service includes posting home on its own web site and MLS Aggregator services, professional photos and 3D images in addition to all typical services offered by a traditional real estate agent.

The key disadvantage of using REX Real Estate is that it does not use MLS to advertise a listing property to other brokers. Any buyer who is represented by their own agent must pay a buyer’s agent fees out-of-pocket. This proposition gives REX larger control of how company’s listing data is distributed and an excuse to claim additional savings against 6% commission, but the seller pays the real price with a highly limited pool of self-represented buyers.

The company claims that it saves the seller a Buyer’s Agent Commission, but this amount is typically defined by the seller and it is never mandatory. In reality, REX Real Estate actionably offers 1% in listing savings compared to a “traditional” listing rate of 3%.

REX Real Estate further misrepresents volume of total savings when it claims that other agents that use “antiquated MLS and is set up like a traditional agency, can’t get away from the 3% buy-side commission.” This is false. There are agents who choose to waive or drastically reduce this fee if the buyer is self-represented and this amount if not set in stone. The only reason 2.5% - 3% buy-side commission is often recommended by other real estate agents is because it significantly increases listing exposure to potential buyers.

When comparing listing rates, Buyer’s Agent Commission amount is irrelevant and should never be used to “prop-up” the appeal of a competitive listing rate. This systematic misinformation is quite damaging to consumers who may not be aware of drawbacks associated with not offering the buy-side commission.

Further, REX Real Estate operates alongside many highly competitive real estate agents that offer consumers much better savings, such as flat fees - when the company claims it offers the lowest fee, this is simply not true. When working with other agents, REX Real Estate hypocritically receives Buyer’s Agent Commission from other listing agents when it represents buyers; REX Real Estate refunds 50% of that amount back to the buyer, as a tax-free commission refund.

We find that REX Real Estate offers nothing new over most any real estate agent, it simply games a few pieces of the existing process in an effort to claim that it has a found a way to replace an outdated MLS.

A well-defined MLS Aggregation process is actually very helpful to consumers because this information, now widely available online, helps people find and shop for homes easily. The real problems in the real estate process are excessive fees and hidden kickbacks between agents and referral fee networks.

Despite the fact that REX Real Estate is a model that offers listing savings to sellers, it receives an average score due to the misleading advertising policy and lack of home exposure to the MLS. REX Real Estate is still a great option for buyers due to 50% buyer’s refund.

REX Real Estate Service Areas:

California, Texas, Colorado, New Jersey, and New York