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REX Expands AI Powered Real Estate Brokerage To Orlando, Florida

Woodland Hills-based REX, an online real estate brokerage, says it has opened up for business in Orlando, Florida, and hopes to expand to additional Florida cities over the next few months. According to REX< which is led by co-foudner and CEO Jack Ryan, it uses artificial intelligence and big data techniques to enable its residential real estate brokerage, allowing it to offer a fixed, two percent commission covering both sides of a real estate transaction. REX is backed by Sun Microsystems' founder Scott McNealy, Best Buy founder Dick Schulze, Crate and Barrel founder Gordon Segal, Amit Singhal, former SVP search at Google, Diana Nelson, chair of Carlson, Jack Greenberg, former CEO of McDonalds and Muneer Satter, chairman of Satter Investment Management. The company recently raised a big $45M Series C funding round, and has raised $75M in total for its real estate brokerage efforts. The company now has operations in California, Colorado, Florida, New Jersey, New York, Oregon and Texas.