FAQ

What is REX?

REX is a global, community-owned real estate portal and real estate data marketplace. Firms, brokers, agents, landlords and sellers can market their properties to a global audience without sacrificing ownership to a centralized portal, as is the current standard of legacy portal platforms. Users earn rewards for participating data and can monetize their information through advertising and selling through REX’s online marketplace. On REX, users are paid for curating spam and and keeping the database clean and up to date. In addition, users can add to the available information stack by creating special feeds (comparable properties, recent sales, tax, zoning, anti-spam), then selling this information to other users in the network.

REX connects everyone in the real estate industry: from buyers, firms, brokers, agents, to developers and researchers. REX’s database is owned by its participants, not a centralized organization.

How is REX different from existing portal services?

REX provides a freely accessible and open global real estate database, the first of its kind. Searching is free, global and available to anyone with a laptop and internet connection. Current listing portals charge high fees to access information. REX’s fees are nominal ($.10-$.20 per listing) and enacted to mitigate the proliferation of spam. REX fees are collected then recirculated back into the Listing Rewards Contract to continue rewarding the community for participating new data. Through a decentralized marketplace, REX offers a spectrum of information ranging from tax, sales, trends and neighborhood all contributed by users. Spam and stale listing data is curated by community members that are compensated for their contribution to the REX ecosystem. It’s the real estate listings industry, democratized and decentralized.

How does REX utilize the blockchain?

By using Ethereum’s distributed ledger technology, REX gains the ability to transmit and store data, interactions, and transactions through a global, decentralized ecosystem that is secure by default. Ethereum inputs the records in order, and then sends the data through another decentralized ecosystem called the Interplanetary File System. Thus the record and the data live in two environments that are globally distributed and near impossible to disrupt. This not only protects the data from being maliciously changed or edited, but eliminates the need for trust between contributing parties—which is a good thing! The blockchain also provides the seamless exchange for tokenized assets. REX utilizes tokenization to invoke economic incentives that result in cleaner, more up to date information.

What is the REX Token and what is it used for?

The blockchain also provides a number of features that are essential for the function of a digital currency, and REX features its own REX token. REX is an Ethereum-based currency token specifically designed to be the fuel of the REX ecosystem. Instead of using fiat currency like dollars, REX tokens are global, and come without many of the frictions associated with fiat currencies. The REX token is used for listing rewards, spam curation, community voting processes, advertising and data exchange. The REX Token is an ERC-20 compliant token, which means it is easily and immediately tradable with any token built on Ethereum.

Who will use REX?

Buyers
Agents
Firms
Landlords
Developers
Researchers
Voters

What are the benefits of REX for someone in my position?

Buyers/Lessees:
Economics : REX provides a new digital economic system in which local users are rewarded for curating and adding new information to the REX database and furnishing the REX ecosystem. By providing paid incentives, the buyer/lessees will have better, real time-approximate data in every REX participating market. Whether you are looking for a condo in Shanghai, a home in Minnesota or office space in Sydney, REX provides freely accessible, curated data at your fingertips.

Brokers/Agents:
Exposure : Listing on REX exposes brokers and agents to a global lead pool. REX encompasses low fees, and rewards listor’s for participating on the network. Listors maintain control of what data they market and never have third party advertisers on their listing page.
Monetization Tools : Charge third parties to advertise on your listing page.
Profit from Your Knowledge : Are you good at putting together analytics? Create custom local reports and sell them to other users. The REX ecosystem is full of opportunities to turn your data and insights into real currency.

Firms:
Connect : By running a REX node, you store data locally. You can push and pull information as you see fit, for free. Choose from a wide selection of user curated reports by people who live in those markets.
Curate : Subscribe to custom spam, comparable property or other types of user curated feeds.
Interoperate : Create a global, interoperable data layer so your agents only have to enter listing data once.

How do I store my REX tokens?

REX has a built in wallet where users can store their REX tokens. Tokens can be transferred out of the user's REX wallet to any other Ethereum ERC-20 compatible wallet.

How can I trade REX tokens for other digital currencies?

The REX Token is an ERC-20 compliant token, and is available for trade on the following exchanges, with more added frequently:

Coinexchange: https://www.coinexchange.io/market/REX/ETH
EtherDelta: https://etherdelta.com/#REX-ETH
IDEX : https://idex.market

Where can I track REX Tokens?

CoinMarketCap.com
Blockfolio (app)
Coincap.io

What are Listing Rewards?

REX is built for the community and we believe users should be rewarded to using the network. The Listing Reward Contract distributes REX tokens for every non-flagged property entered into the system.

What is Spam Curation and Flagging?

Each listing entered onto the portal has a 7 day period in which other users can flag the listing as spam. To flag a listing, the flagger is required to pay REX tokens. The listing then enters a three day arbitration period. During this time, other REX users can vote, blindly and with REX tokens, whether they agree with the listor (not spam) or the flagger (spam). At the end of the voting period, all votes are revealed. If the majority of votes are with the listor, the listor receives the Listing Reward and the voting pool that voted for the listor will win the REX of the losing pool that voted in agreement with the flagger. If the majority of votes are with the Flagger, then the Flagger will earn the Listing Reward and the users that voted for the Flagger will earn the REX tokens from the pool that voted with the listor.

What is the REX Marketplace?

Do you compose market reports that have a one client life cycle? Not anymore. The REX Marketplace provides a trustless environment where users can buy, sell and license real estate data. Sellers now have access to a global pool of buyers and buyers have a large variety of suppliers to purchase from.

What are Data Escrow Contracts?

REX’s Data Escrow Contracts give users the ability to exchange transaction data in a trustless environment.

Rex will never store the documents or funds that travel through its Escrow Contracts. Instead, the data and transaction records will be encrypted and sent via IPFS (a peer to peer data distribution protocol). The uploading participants will have control and ownership of the document, including when the viewing will expire and who will have access to it. When regulation permits, the Data Escrow Contract will also have the ability to track deposits, payments, and allowances via the REX Token or cryptocurrency of the transaction participants choosing.

What is a REX Node and why would I want to run one?

REX Node’s are a combination of the RexIndexer, IPFS and Ethereum nodes.
Firms and individuals can run a REX node to store their information locally and cut down on latency.

Benefits include:

  1. Local Data storage.
  2. Ability to download and store any participating market in the network.
  3. Decentralization of the ecosystem.
  4. Single point of data entry (brokers upload their listing data to one location instead of multiple portals).

How can I contact REX?

Have questions, comments or feedback? Please contact us: support@rexmls.com