Our guest in this episode is Alex Berg from Rex Real Estate, who talks about different technologies that streamline the process of buying and selling property. Rex Real Estate is a proud partner of Mynd Property Management, and this company was able to employ data and AI technologies to significantly cut down brokerage fees. There is plenty to learn about their business model and how you can apply these strategies to your rental property investing plans.
We also discuss the impact of the pandemic on technology and homes, other market trends, and different ways Rex Homes can leverage technology to provide top-notch services.
00:07 - What Rex Real Estate does, how it establishes trust with its clients, and what benefits it brings to the table.
06:03 - It’s not about removing real estate agents or the human element - it’s about improving the technology so the processes are more streamlined.
12:23 - Who is the ideal client and the ideal investor to benefit from Rex Homes brokerage services.
16:14 - Market trends, challenges, and cycles as they relate to investors’ journey and housing in the real estate market.
25:38 - The specific markets nationwide that are growth-oriented for both buyers and sellers.
31:38 - The main benefits of working with a tech-savvy company like Rex Real Estate.
Steve Rozenberg 00:07
Ladies and gentlemen, welcome to another episode of The Myndful Investor Podcast Show. I'm your host, Steve Rozenberg. And I'm head of investor education at Mynd Property Management. And we have since been doing these live, we've been doing these about a year. And now we are doing them both as a podcast show as well as Facebook Live. So for those of you on Facebook, welcome. Um, you know, one of the reasons we started this show is because we wanted to be able to reach out to the investor who's out there that's trying to figure out a better mousetrap for what they're trying to do. I think at the end of the day, all investors are trying to create wealth, they're trying to understand how they could have a better life for them, their families, everything, and they feel real estate at some level can do that. I think the challenge with real estate is that they're buying four walls in a roof, right, and it's the business that's running inside of the four walls in the roof that's going to actually make them successful, or could, as they say, in flying, take them to the crash site quicker. And what I think a lot of people don't understand is when you're in the business of owning real estate, it's a very fluid, it moves around all the time, and it's ever-changing. And, you know, we use these phones, for technology and gadgets for things in our life. But a lot of times, we don't think about using them in our business. And we don't think about using them in what we're trying to do with transactions of getting deals, not getting deals. And it's almost unheard of, to think of using a new type of model or new technology in something like buying a house getting it all collected, closing on the deal, all of that in one place. And so the gentleman I have on today, Alex with Rex Homes, we're going to talk about how they took that concept. And and I may be butchering what they do, but I'm doing my best to explain it is they basically took that concept, and they're trying to make it the easy button. And I think that what we're seeing with all of these new type software's and apps and programs is they're just trying to create less friction, they're trying to make it I don't want to say it's human, but I think that essentially, they're trying to make less problems and less drag, which is less friction to make the process easier, more streamlined. And sometimes you got to bring things all in house and create systems for less handoffs to make a system less frictionless. And sometimes that is without human interaction, because sometimes we mess things up on our own. So anyways, Alex, thank you so much for joining me today on the Myndful Investor Podcast show. Hopefully, I did at least somewhat justice to what your company does.
Rex Real Estate 02:33
Steve, thanks for having me. Yeah. And, you know, you started with a good foundation there. But I'm here to kind of articulate what Rex does and relate that to, you know, your listeners, your audience who are out there, looking to learn more about investing and how it relates to a partnership that we brokered with mine this summer. If it's okay with you, I'll just give kind of just a quick introduction in terms of what Rex does. So the listeners can kind of get an initial handle on how we're different from kind of the brokerage options out there.
Steve Rozenberg 03:02
Yeah, that'd be great. I'd love to hear. Sure.
Rex Real Estate 03:05
So basically, Rex is a tech built, disruptive brokerage and services entity that endeavors to represent buyers and sellers and help them save on transaction economics, that typically investors or listeners have been beholden to, through kind of the draconian status quo that we call it. And what I mean by that is typically folks are paying as sellers if they're looking to dispose of an asset five to 6%, all in typically two and a half to 3% on the sell-side to an app or 3%. On the buy-side. What Rex does is we do not list on the MLS, we charge our sellers, a two to two and a half percent fee, all in and we find buyers directly using data algorithms, ai partnerships with Zillow, Trulia, homes.com, search engine optimization, don't want to get too far down the rabbit hole with the tech side. But basically, we harness this contemporary consumer behavior, where you know, Steve, buyers find their homes in most cases, the fact is actually 70% on their own, and then they just layer in that agent to facilitate the transaction.
Steve Rozenberg 04:13
But there's a trust factor, right? There's that perceived trust factor by having that realtor in there to say, are these numbers correct? Am I doing this right? There's all this paperwork. Oh my gosh, I can't do this. It's worth that 3% of peace of mind right? That's I think because they don't do it that often right? They do it maybe once or twice in their lifetime for their personal home. And then if it's an investment home, they kind of fumble through it. It's this the tail of the dragon getting whipped around and then they're like, Oh my god, I can't believe I was done. You know, but but I agree it's it's that that's that I find that very common with investors and people buying is they just go here, like, fix fix it for me and let me know when when we can close kind of.
Rex Real Estate 04:53
Yeah, absolutely. And so, you know, as I said, we're kind of disrupting those unfair fee structures that exist, but that Five to 6% to charge top sellers two to two and a half percent. As it relates to investors, especially those who are acquisition-minded. In the case that an investor would want Rex to represent them as a buy-side agent, which we do all the time, if they wanted to bid on a property that was hosted by the MLS will actually take that commission we receive from an MLS based transaction and rebate them 50% of that commission. So whether you're looking to dispose of a property as an investor, or you're growth-oriented, and you want to acquire a property, we're making the customer more whole on a transaction fee element, then the current traditional model exists. And go ahead, Steve. Yeah.
Steve Rozenberg 05:40
So um, just from a from a larger picture, you It sounds like you're you're taking friction out? are what is the friction? What points? Are you taking out? Are you taking out the actual agent, that you're saying, hey, this can be automated? Because I mean, there are a lot of facets of what agents do, right? There's a lot of value. Are you just taking away tasks that they do? Or how do you do that?
Rex Real Estate 06:03
That's a great question, Steve. And it's an important one. So we can kind of level set on how people perceive Rex. So we still represent people with full time employed agents, we have agents in all of our markets. And so all of our agents are actually full salaried w two folks, which as an aside makes a difference. Because because they're not compensated on commission. They're not commission hunting and trying to just produce, you know, transactions that might not fit investors goals, were graded out on customer service and getting the best kind of transaction possible. With that said, Our efficiencies through tech are through finding buyers directly and removing that MLS fees. So we're not listing on the MLS. But I just want I just want to reiterate at the risk of sounding like a broken record, we do full service with agents, because real estate is still a very human business, Steve, I know we can drive efficiency through tech. But if we were to eliminate that agent representation experience, we might miss out on some of the thoroughness that's vital to producing a successful transaction. So it is a it is a tech-powered, human-oriented experience with Rex. And we think that that's a really productive way to kind of service the New Age investor, New Age client.
Steve Rozenberg 07:21
So essentially, you're not eliminating anything, you're just streamlining it, you're making it work more efficiently. And because of that, you can cut costs because of the efficiency. Does that movie
Rex Real Estate 07:31
Yeah, that was that was really well said. And we see the same efficiencies with our other products. So we're not just a brokerage, we also offer mortgage insurance, title escrow. And we do that all in house. We're a mortgage banker, as I said, we have all these other products. And so for a lot of folks who are buyers or sellers, the process is really fragmented and disparate. And with Rex, they can basically go to a one-stop shop, and we call it housing as a service costs. And basically, they can lean on us for every element of the transaction, which is just, you know, plainly spoken. It's a big stress reducer. And because they're bundling services with us, they get economies of scale and savings within that bundling of not just brokerage, but all these other kind of ancillary products. So we're driving down costs the consumer in a tech-based efficient way. And if I may, you know, this industry, the folks listening, you know, one of the biggest drivers of GDP in the country, and it's really been slow to roll in terms of disintermediation, or disruption through tech. And folks, that Rex folks that mind, folks with a host of other organizations are really kind of carrying the torch to bring us into the 21st century. And, you know, modernize our game. And we don't think that consumers should be taken advantage of any more with these kinds of antiquated fee structures and such.
Steve Rozenberg 09:00
Yeah, I agree. And I think that, you know, many people try have tried this in the past where, you know, you the old days where somebody would buy a building and say, I'm gonna have a title company, I'm gonna have a lender, I'm gonna have insurance. It never seemed to work, right. There was always I think the one thing that they were missing was they were missing the fact that they were not integrating and communicating with each other. And so when you don't hold all the pieces, when you don't control everything, it's hard to do that. Now, I just have a question. I'm just curious. I've learned that, you know, to be successful in any kind of business, you've got to be very, very focused and, and laser focused and laser, you know, like an oil well, deep is doing what you're doing, is it? Are you doing too many things that you're like I would, my concern would be like, are they doing a lot of things? Okay, and not one thing really good as a company, and are they able to get me the best rates focused on my insurance or my mortgages and all that. How do you guys come back that perception?
Rex Real Estate 09:57
Yeah, that's a great question. And I'll say At Rex, where we're not believers in being a jack of all master of none, because that doesn't really help out the consumer. In the end, they want expertise across the board. And that's what we're compelled to deliver. And my answer like more specifically to that would be we started in 2015 focused more so on the brokerage angle, and we were able in our mind to, you know, really hone that and drive that close to perfection. Of course, we're always evolving and striving to improve. And then we were able to layer in those other products and hire on leaders that were just top leaders within their respective business unit, whether mortgage insurance, etc. And we have grown strategically and ambitiously. So what I mean by that I don't want to throw out too many buzzwords because I'm going to lose people. But what I mean by that is, we are growth-oriented, but we're not trying to cast such a wide net that we don't have control over customer experience or specific to your question. Let's use the example of mortgage rates. As a mortgage banker and lender, we're a little different than some of the other players in the space. And what I mean by that is, our folks don't spend any time prospecting leads for mortgages, your your traditional outlet or outfit will spend a lot of their time and money on lead acquisition, we basically just service the customers that come to us. So the turnaround time, in terms of getting folks quotes, all that stuff is rapid. It also reduces our costs. So we can pass those savings on to the consumer, because we're not spending money on lead acquisition, with the example of mortgage but I think more crucially, to your question, just philosophically or big picture is, we're a big believer in kind of, you know, building strategically but making sure as we advance our scale, that we have all of the structure in place to continue to scale as opposed to just casting that wide net I alluded to where you're just doing too many things. Because I think your listeners are the consumers are wary of someone that doesn't have the expertise in every step of the way. And we feel comfortable that we do.
Steve Rozenberg 12:05
So let me ask you this, who would you say? Is your target client? Like? Is it the brand new investor? Is it the person looking for a hard money loan that's going to do a flip in a bur? someone looking that already owns 15 houses and they're having trouble finding more remote investing? Like, who is your target? Would you say?
Rex Real Estate 12:23
So? I hate to answer the question with a cliche, but your smile says it all you're gonna sit here, you know what I'm going to say. But what I'm going to say is we don't necessarily have a specific target client, it's more about their mindset. So if their mindset is growth-oriented, and they want to acquire a host of new properties, then you know, we're on board for that, and we're going to pass those savings in that buyer rebate program to them, we can outfit them with the mortgage, the whole thing, I don't need to, you know, keep repeating things. At the same time, if someone wants to pare down their portfolio, they want to, they want to kind of get some cash back for some of their assets on their balance book book, so to speak, we can facilitate that the same way, if they have more of a hybrid model, you know, they want to acquire certain properties, dispose of certain properties, whatever it might be, you know, we can tailor our approach to anyone's strategy, as long as we have those, like really candid and productive conversations with our people, what are your goals, so it's not just let me list this house. So let me help you buy this house. Because that's just mechanics, anyone can do. Anyone can do mechanics, we want to dig into the strategy of an investor's mindset, and then help out from their understanding, you know, at a deep level, what's trying to be accomplished. And so we work with investors, whether it's more boutique or local, all the way up to institutional investors, and we tailor how we feed them, you know, basically feed their buy boxes are what they want to look at, based on all sorts of unique criteria to their strategy. So hopefully, that wasn't too much of a roundabout. No,
Steve Rozenberg 14:01
no, it's, it's good, because,
Steve Rozenberg 14:04
I'd like to talk about some some trends in the industry of what you're seeing. But from what I'm hearing, you guys are essentially nationwide, like Myne is nationwide. So it's nice, the fact that you can help them from the beginning and push them right through to to mind or a property management company like mine, hopefully, it's mine. But you can push them through so you can get someone who essentially knows nothing about real estate or they're trying to, you know, 10 x their portfolio, and you can help them all the way through basically as a one stop shop all the way through to managing the asset without anyone leaving their home. It sounds like is that?
Rex Real Estate 14:37
Yes, absolutely. A couple of points on what you just touched on. Just so folks know, we are live in about 25 major metropolitan markets across the country. We'll be adding 10 to 12 in the new year. So very much growth-oriented. But just to kind of speak real quickly to the partnership with mine so folks understand how we work together. We have, you know, a true reciprocal symbiotic partnership in that. If we have folks that have those brokerage and ancillary needs, let's say someone needs to acquire a property they intend to rent out as investment property, we will facilitate that give them any services they need around that. And then we will refer them to mind if they haven't heard of mine. Um, so they can really optimize rental property, ensure occupancy, ensure tenant quality, ensure top rental rates or rental income. So when we started talking with Mynd, we identified a couple of key kind of core synergies, a lot of which was, you know, empowering the consumer to make more money or facilitate savings. Also, just with kind of our ethos of, you know, customer first driving results through tech in through kind of sophisticated data data learning. So just just so the folks know how we kind of came to connect Steve, and what the relationship is there. That's how he that's how he came to be. Yeah,
Steve Rozenberg 16:01
so let me ask you this regarding I'd like to hear your thoughts on, you know, what are you seeing the trends today? What is Rex Homes saying? And give me your thoughts on just the housing right now in the real estate market?
Rex Real Estate 16:14
Sure. So what we're seeing, and I'll kind of paint with a broad brush here, because we can't go market by market that would send us down a rabbit hole. But yeah, what we're seeing as a general rule, is that it's a very strong seller's market. So folks who are listing are selling extremely, extremely quickly. They're selling for top dollar, oftentimes, you know, well above what a traditional valuation or CMA would dictate they would get. So it's an extremely strong seller market right now. As such, there's kind of a shortage of inventory for buyers out there. So if you're a buyer looking to add to your portfolio, it's very competitive out there, just because the inventory is low, and the interest rates are low. So there are a lot of buyers out there looking to leverage or take advantage of the interest rates that exists. So as that relates to investors, you know, if there's a property that you might be looking to list or dispose of, you'll probably have a high success rate with that. With that said, I think we probably see a little more towards the growth angle, but you know, there's merits and all sides of it. From a growth perspective, I think the current market really behooves the strategic or discerning investor, right. So if there's low inventory, and if it's a seller's market, understanding, you know exactly where you would be acquiring a property, what that future or future rental income would look like, making sure that you really feel like you have a handle on the growth related to that specific property, I think is paramount. Because it's, it's, it's, you know, it's harder to just, you know, buy low, and then rent high, just from, you know, a market standpoint. So really need to be discerning about what you're acquiring.
Steve Rozenberg 18:11
Let me ask you for your professional opinion on, you know, because I'm seeing the same thing on a national scale people I interview and talk to, and my belief is that this is this, this driving up of the market is pure emotion right now. And that's again, just my opinion, for what it's worth. I'm just curious, your thoughts, because the data, nothing else supports the fact this is very reminiscent of the 2008 recession, right before it happened. There was this huge, everyone else's buying, it's that cheap herd mentality, I got to get in the game, I got to buy something which obviously drives the prices. Why do you think in your opinion, or your professional opinion, why do you think it is such a seller's market right now?
Rex Real Estate 18:53
Yeah, and so I think there's a host of different factors in, you know, some of the folks on on the Facebook Live stream or listen later, probably very well attuned to the fact you know, COVID-19 has been, you know, an unforeseen circumstantial influence. And I think a lot of folks who might have been renting in inner cities, or, you know, own condos in their cities, there, there's been some flight from cities to suburbs, or to more rural areas, not just because of, you know, the proximity factor with the pandemic. And pardon me, folks, I'm not a scientist or a doctor, so I don't want to get too detailed here, right? Folks are kind of changing their lens or the prison they look through in terms of what kind of property they want to live in. The other factor that, you know, I've heard across a host of different industries is the willingness for people's employers to let them work remotely. You know, whether by necessity or whether for, you know, big picture, so people have a little more kind of latitude or freedom as to where they live. So I think that's influencing a heavy burden. racked up. And then as you said, Steve, I don't think everything is always related to a finite trend that you can put a pin on. I think sometimes once things start to get into a frenzy, the frenzy begets frenzy if that makes sense.
Steve Rozenberg 20:16
Yeah, it does. It does. And I agree, and I don't I mean, I don't think we can pinpoint it. I think that, you know, from what I've learned, and being in real estate for 20 years, you know, like everything if there's a cycle, and statistically real estate goes in about seven-year cycle. So whatever the cause of it is, whether it's, you know, what, whether it was 911, that caused something, and then about seven years later, 2008 recession. Now, that was systemic, but it still is about seven years, 2014, we had the oil prices going through the roof, hundred 40 $150 a barrel, it's about another seven years, 2026 years, seven years, there's another thing. So while they may take another face, I think the cyclical if you look back at history, there's always been this, I don't think it's been is that, you know, social media didn't exist, you know, back in the 90s, and 80s, and 70s, and so on. So, I don't think that we were able to see it. But if you look back at historical data, you will see there are trends. And I just think that because of social media, it's a great tool, but it also can cause that feeding frenzy, as you said. So let me ask you this, what do you see is the biggest challenge that real estate investors are facing today.
Rex Real Estate 21:29
So, you know, some of the challenges, like we just kind of alluded to, were, if you're growth oriented, and looking to power acquisition, higher prices for acquisition, and lower inventory, which those are kind of some of the core challenges I see. And, you know, just in the immediate. With that said, I didn't even mention, you know, if you are an asset holder, there's one thing that you might want to think about harnessing and that is folks who are selling their properties, because they know the market is hot, but they don't find that place to live into or buy immediately. So if you're an investor property owner, could be a great opportunity to find really ideal tenants who are willing to pay top dollar for a rental property, we've seen that with our brokerage services, a ton of people wanting to cash out, so to speak, because of where the market is. However, they're not necessarily keen on buying within this market. And so they need a rental property. And so from that end, it's it's a good opportunity for those folks who do have rental properties to get great tenants and really ensure maximum cash flow from those properties. But back to your question, Steve, I think, you know, in the current market dynamics, the things I mentioned about, you know, acquisition and inventory are challenging, I think, big picture, and I've had conversations with folks internally, who focus on this is that, you know, the single family residence is, is a really incredible market to invest in, just in terms of performance, all that stuff, you've, you've kind of built your second career in that space. And one of the things we're actually seeing, though, is we kind of have a phrase that traditionally that SFR market, operated on Main Street, and we're now seeing it, you know, Wall Street's not far behind. And so what I mean by that is, you've got big, big institutional players across the gamut, getting into this single family, residential space. And so depending on you know, your complexion or your persona as an investor listening to this, um, that's just something I would be aware of, as you kind of chart your growth, knowing that different kinds of powers are waiting into this territory that might not have been as involved in the past.
Steve Rozenberg 23:46
Yeah, and I think also, you know, the, the transition, you'd mentioned this earlier with, you know, the COVID and, you know, pandemic and people being kind of holed up together is all of a sudden you're in this you know, you're in this two bedroom apartment with your family and you're going, I'm going crazy, like I got, I can't run I can't work in the in the corner and have the family so I need more space. So I what I my understanding is, is you're getting a lot of people that number one, like you said, they're allowing them to move out of the big city and maybe move back home. So you're almost seeing a demographic change of people. Let's just say the Bay Area people are leaving the Bay Area paying astronomical prices for a one bedroom apartment where they can go back to maybe where they grew up and central you know, the US or Texas or anywhere else and go, I can have a whole house for what I was renting a one bedroom and I still have my job at the same company. So I think that what what we're seeing is they're they're kind of not a pilgrimage away from it. But I think we're seeing people go Why would I go live in this apartment? I'm this works. I'm actually seeing more SFR and ad use being built and building out of offices and all those things in houses, because they're saying, Well, I can my company will allow this. Now. I don't think this working from home will stick like it is now, I think it'll be a simpler of a hybrid. I agree, because, but I do think that they've broken the barrier of that, you know, that four minute mile of saying, You can't work from home, it's not doable. So they've proven that it is now I think it would just be how do they find that balance of human interaction and all that? Yeah. Now, let me ask you this when it You guys are national. So you guys have a large database and you guys are operating in multiple cities? It What are you seeing is the best investable city right now for an investor, if they're looking at buying, what data is telling you is kind of pointing to go to?
Rex Real Estate 25:38
Sure. So through our data, our research and just anecdotally, a lot of the areas that we're seeing in terms of investable market opportunity is you know, sunbelt, or se, the specific markets identified before our conversation, Phoenix, Las Vegas, North Carolina, specifically the Research Triangle Area, Atlanta and Jacksonville, our data is pointing to those areas within our coverage, that have been really productive for investors, a lot of that in terms of factors as to why it's kind of relative affordability, you know, healthy job markets, and just kind of the economics of investing, and then renting out or doing what you want to do with the property. So to kind of distill the answer your question, we kind of say, sunbelt, and se, as a general term investment back to something you said just a couple moments ago that I just wanted to follow up on, when you were talking about, you know, folks kind of changing geographies or locations. Just anecdotally, we were actually having a conversation yesterday with someone, they're a developer, and I'm not going to name the geography. But essentially, they're saying, Yeah, we're selling these new construction builds like hotcakes. And all the buyers so far have been out of state. And that's, that's, that's an interesting trend. You know, you said, traditionally, that would not be the case. But folks are moving from higher cost areas to areas of relative affordability. And so, you know, the demand has really increased at a geographical level level where, you know, if you're an investor or you're this in this arena, you're not just targeting folks in the neighborhood that want to go from one kind of property to another. There's a whole host of opportunity for people relocating within the context of the current market climate.
Steve Rozenberg 27:35
And, you know, my question and I had a real estate attorney on a couple weeks ago, we were talking about this, I said, Let's, let's say, for example, somebody was living in San Francisco, right, and they're paying all this money to live and but they eat there. You know, they use the public transportation, their taxes, go there, all that stuff. Well, now all of a sudden, that money is now in Tulsa, Oklahoma. Yep. Yes, their taxes are still you know, they're, they're employed by the state of California and all that stuff. But what does that do to the demographics of San Francisco? Now, these jobs, the jobs are still there. So the companies are still making the money. But people are not putting the money back into the community? And why what is someone going to do that? They're going to say, I'll rent this one bedroom, you know, it's a $3,000 a month apartment, in the Bay Area, when I can go live here. So who rents those? So does that actually change the price structure of the city that people are leaving? And does that? Does that open up new opportunities for acquisitions? Once the price has come down? to maybe a more realistic level? I don't know the answer. I don't know if you if you guys have thought about or know anything.
Rex Real Estate 28:39
So let me preface it by agreeing with you that I don't know the answer. But I can. I can, but I can. But I can
Steve Rozenberg 28:44
we have opinions, we just don't have answers
Rex Real Estate 28:47
I can offer my opinion. And my opinion is that I'm using San Francisco as the example that it's going to be hard to sustain those prior levels of rent, there's going to be less people, less demand, less willingness to pay, you know, a crazy monthly fee to live in San Francisco to work for, let's just say like one of the big tech companies win now you might be able to live in Tulsa and work remotely. So I think that the trend will be one, it's it's a really big issue, independent of kind of the investor realm for these cities, or for these states where they're going to see an exodus of people, let's use California, people might not want to pay the taxes in California, if they can work elsewhere. And so these states, these local, you know, cities at a kind of local governance level, that is a big, big ticket item, I'm sure that's on the front of everyone's minds. How do we retain our residents from an investor standpoint, because that's really our focus. I think there will be opportunity to potentially acquire certain properties in these, you know, form these high priced geographies at a discount when they kind of understand that they're not able to sustain the same level of rental income prior. But yeah, it'd be something that, you know, you'd want to be really diligent about doing the research of, where am I acquiring versus where can i comfortably rent, because you don't, you don't want to acquire something for the sake of getting it below what you know, former market value was, but then not be able to charge rent to, you know, be in the black on the acquisition. So that would be kind of my, my advice for the investor considering leveraging certain changing dynamics within major metro areas.
Steve Rozenberg 30:43
And I think what you know, people need to learn and, you know, I'd like to hear kind of the, the kind of all encompassing benefits of using your company is, you don't need to live where you invest. The numbers, dictate the numbers in the data dictate the deal, based on your goals and your strategy, not your geographic location of being able to drive to a property. That's that's, that is not, in my opinion, at least. And that's not a way to scale. And that's, you know, again, because you've got to be able to the numbers should dictate if the numbers do not match or align with your strategy. Well, you'd have to change your strategy, change your plan, or change your geographic location, which is a, you know, I'll kind of, again butcher it, but that's summing it up. That's kind of what Rex does, right? I mean, what, what would you say is the best partner the best? If somebody partnered up with you, and they do work with you, what would you say are the top benefits that you know, they could take away from this show ago? Yeah, maybe that they're worth calling?
Rex Real Estate 31:38
Sure. So we touched on it earlier, but just to reiterate, you know, the savings on the fees they're paying, whether it's listing or buying, those are super, super impactful, being able to do everything related to acquisition in house with Rex and using that bundle, to further drive down costs to the investor. But kind of more strategically, or big picture, you know, we are a national brokerage. So to your point, Steve, you don't need to live where you invest. If you're operating with local folks, you might have a more fragmented experience. So let's say you're where I am here in Northern Virginia outside of DC and you want to buy in Austin, Texas, because Austin's becoming super, super popular, people are leaving California for Austin. You know, with Rex, you can talk to, you know, someone locally in Virginia, if you're talking about something local, or you can talk to our team in Austin, Texas. And because everyone's a fully salaried w two employee, everyone answers to the same cultural expectations. And we have integration across all of our teams. Whereas if you're talking about working with a traditional brick and mortar, brokerage, you're going to be working with a local franchise in Virginia and a local franchise in Austin, there's no integration or synergy between the two entities. And it's going to just be a lot more difficult to have, you know, streamline dialogues and streamline execution of your goals. So I think the fact that we are a national brokerage with all the offerings we have, really makes things easier to invest remotely, and to have a team supporting your goals. That's all connected within the company, as opposed to being, you know, siloed, in different kind of franchises. The other thing I would say, Steve, kind of just with, you know, COVID certainly lends some circumstance to this, but I think it's important in general, is, you know, we, we are built with tech. So what I mean by that, is we have a really kind of sophisticated offering to conduct business remotely. So, you know, virtual open houses, virtual showings, you know, people can look at homes through the app, you know, we can have our folks who are boots on the ground, do everything through a smartphone, and serve that up to a remote customer, so they can see the home, all of that kind of stuff. And so, in this new age, where everyone's operating on zoom, we're on zoom, instead of being in a studio together. Not not working with a company that's kind of scrambling to figure out how to use tech, but was actually built with tech means that there's, you know, a much more sophisticated customer experience, and not just trying to kind of like Jerry rigged together some tech offerings in this new climate.
Steve Rozenberg 34:19
Yeah, and it's great. I think it's a great way to put it. I definitely think if someone's out there looking and they want to grow and scale and maybe they're whether their market matches or doesn't match. I don't think that matters. I think that having conversations with people like you is great, because it opens up so many opportunities, and it takes the guesswork if I'm if I'm looking to buy something in Virginia, and I don't even know, let alone You know, the numbers in the data, but okay, who do I get for insurance? And now, where do I close? And where do we open title and all these things that you guys seem like you kind of take again, I just use it. As I said in the beginning, you take the friction out, right? I think it's great. And then it's, you know, from beginning to end, you can carry them through all the way to handing them off to a property manager. A company like mine, it just makes it so streamlined, which is for me that that's what this is all about I, I don't buy real estate to have a second and third job, right? I buy it because it's, I want it to be passive. And I want to use the team concept of using experts that know what they're doing to help guide me. So I think what you guys do is great. And I think it's well overdue, as you said earlier on. Alex, if people want to get a hold of you, and they want to learn more about you, how did they do that?
Rex Real Estate 35:27
Yeah, so if they want to kind of connect with Rex to discuss how we can help them, you would just go to rexhomes.com. And we've got a customer service number that you dial into, you can chat through the site, you can email us in our customer service team, not just in terms of contacting folks who are interested. But in terms of contacting folks who might be interested in say your property, their speed to answering calls, answering emails is top notch. So our customer experience from built from the inside out. It's top notch. So we'll get right back to you if you have any interest in talking with us. You know, and yeah, we'd love to hear from anyone that needs assistance with kind of the things that we outlined. And you know, at the end of the day, we've talked about kind of the mechanics of racks in terms of fee structure offerings. But I think I'll leave folks with this is that we're really at our core and our ethos, putting customers first the folks listening to this podcast, are likely very savvy individuals that don't need to kind of play into, you know, the old school system that's, you know, taking advantage of the consumer. So if you're thinking forward, which you probably are, if you're accruing this passive rental income and knowing how to identify properties, etc, then it's a great time to kind of modernize your game with acquisition disposition, and, you know, property management services with Mynd as well. So we're here to power experiences, not to disrupt them.
Steve Rozenberg 36:55
Well, Alex, thanks so much for being on today. I appreciate it that for those of you watching, you can go into the the links in the bio, and you'll be able to see the information on the show on our on the podcast show. But again, thank you so much, because I think this is definitely brings us spotlight to something that's needed in the industry. And I'm sure you know, we'll probably see variations of this as time goes on. And I'm sure you guys will evolve. And as technology happens, it sounds like you guys are on the cutting edge of it, which is great. So again, thank you so much for being on and as well. Mind property management, if anyone is interested, we are in over 19 of the investable markets nationwide. With our proprietary software, you know whether you want to buy and own in Tampa, or you want to be in Atlanta, Houston, Texas, Dallas, Phoenix Vegas since Seattle, you can have one system, which to me, that's the key, right having multiple properties in multiple locations with multiple drivers and people and systems. That is a headache and a problem. And it mine. We've solved that with our proprietary software, as well as just helping you grow and scale and just being on your team because you definitely don't want to be a solo entrepreneur who's out there trying to figure it out. When you have people like Myne and people like Rex Homes, to give you that ability. So go to our website mynd.co. They can get all the information you can see past podcast shows of the mindful investor, as well as other episodes. So on behalf of Rex Homes, Mynd Property Management, Alex and myself. Thank you so much for watching. We'll catch you guys next week on the mindful investor podcast show.
We'll see you later. Thanks, everybody.
Alex Berg is an experienced tech sales and business development executive with a focus on helping disruptive companies grow through strategy, revenue generation and process implementation. He currently serves as the Strategic Sales Manager at REX, where he provides vision and integration across multiple teams to drive results for REX's overall sales initiatives.