REX Homes, which has claimed that a conspiracy between the National Association of Realtors and brokerages prevents true competition in real estate, is perhaps adding evidence to its own legal analysis.
Last Friday, the brokerage that lets home sellers pay less than the 5-6% of the typical home sale price commission, announced over Zoom that the vast majority of its 180 workers would be laid off, according to phone interviews with half-a-dozen current or recently let go employees.
Also, REX announced that its physical offices in Austin, Texas, and Woodland Hills, California, would shut down immediately, according to these employees.
Workers agreed to talk on the condition their names would not be published. Messages left with a REX spokesperson as well as CEO and Co-founder Jack Ryan and Chief Operating Officer and Co-founder Lynley Sides went unreturned.