REX wins in campaign to free homebuyers from overpriced, anti-consumer rebate bans


In response to a request for an opinion from the REX, the Louisiana The attorney general’s office clarified that real estate discounts are legal in the state. This is a huge win for consumers, as rebates allow homebuyers to recoup thousands of dollars when they close a home. Ending bans on anti-consumer discounts would put homeownership within reach of nearly a million Following American families.

In Oregon, where REX filed a federal lawsuit against the state’s refund ban, the U.S. District Judge Marco A. Hernandez has left ban in force while stressing that it did not comment “on the wisdom of that of Oregon anti-discount policy. Judge Hernandez’s opinion further noted that “the US Department of Justice has begun to take action against the anti-competitive activities of traditional real estate brokers.”

“In Oregon, Judge Hernandez found that REX made a compelling argument, but the federal court was not the right place. While REX disagrees with the outcome, we are encouraged by the fact that the court recognized how real estate insiders have stacked the game against consumers for far too long, ”Toth continued.

REX a publicly called for the National Association of Realtors (NAR) to join with REX in supporting the repeal of anti-discount policies in the few states that still prohibit consumers from receiving thousands of dollars at close in the form of pro-consumer discounts. “These policies hurt consumers and licensed real estate agents with their anachronistic anti-consumer standards,” said the CEO of REX. Jack ryan wrote in an open letter to NAR in September. “Based on the National Association of Home Builder’s Priced Out model, a 2% rebate for home buyers would allow more than 700,000 Americans to enter the homeownership market.

The US Department of Justice (DOJ) is investigating the National Association of Realtors (NAR) and has asked the NAR about its influence on the surrender bans. The Department of Justice website states: “Discount bans artificially inflate the cost of real estate services. Consumers are being forced to pay thousands more to buy a home than they would if the rebates were allowed. NAR has yet to respond to its position on rebate bans, either in its response to REX or the DOJ.

The GA’s office notice means that only nine states now ban real estate commission discounts: Alabama, Alaska, Iowa, Kansas, Mississippi, Missouri, Oklahoma, Oregon, and Tennessee.

For media inquiries: contact Colin Maynard at [email protected].

ABOUT REX

REX, headquartered at Austin, Texas, is a real estate technology company resetting the traditional real estate market nationwide. When buying a REX home – or any home on the U.S. market purchased through REX – consumers have the peace of mind that they know they are finding residential real estate cheaper and saving time with it. our revolutionary technology. REX has become the national leader in real estate reform since the company was formed in 2016 with the goal of eliminating fees, growing the US real estate market, and saving Americans billions of dollars every year. REX is also a partner in the global fight against housing insecurity. Learn more about REX’s online platform, integrated services and business model at rexhomes.com. Also visit pressroom.rexhomes.com for the latest press releases, podcasts, market analysis, digital real estate data, and information about the company and management team.

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