You’re thinking of selling your home in Texas in the coming months. It's likely you've heard of a few new options which promise to make home selling simpler and cheaper for you. You’ve heard of Jovio and you’ve likely heard of REX. While we welcome the change that REX is bringing, we don’t believe their model best serves all home sellers. We want to provide transparency (on both services!) so you can make the best decision to reach your goals. Below we’ll dive into key tactics of home selling and where Jovio and REX differ.
Jovio leverages modern marketing to ensure your property reaches and stays top of mind with the right potential buyers. Jovio leverages practices such as custom online audience curation, remarketing campaigns, AI, and other secret sauces to ensure your property reaches and continues to follow prospective buyers. REX claims to use similar modern tactics, though we’re unable to confirm this, and it is one of their main selling points. After all, 51% of buyers have found the home they purchased through the Internet. Modern tactics make sense but there’s more to the puzzle…
Where Jovio differs from REX is in leveraging more “Traditional” marketing tactics to supplement the more modern approaches. For example, all Jovio properties are listed on Realtor.com, AustinHomeSearch.com, Redfin.com and many other websites that home buyers in the Austin area use in their home search. REX does not advertise its properties as “for sale” on these networks. In fact, a home that’s for sale with REX may even be listed as “Off Market” - yikes! Even if a homeowner asks to have their house listed on these sites, REX will be unable to do so because many of their Texas-based agents are not Realtors®.
Jovio is a proud member of the National Association of Realtors®, Texas Association of Realtors®, and both Austin Board of Realtors® and San Antonio Board of Realtors®. Membership yields many benefits to our clients which we’ve listed below:
At the end of the day, what it will cost is an important piece for you, right? In the spirit of transparency, let’s take this head to head:
Jovio’s low listing fee of 1% includes everything! From professional photography to a dedicated listing agent and access to a team of experts – Jovio’s clients never pay Jovio a penny more – we promise! Often a cooperating agent (the Buyer’s agent) is involved in a transaction and they will need to be compensated for their time and efforts. It is common for home sellers to cover this cost by offering a 2 to 3% cooperating agent commission, which is reflected in a higher listing and sale price. This is preferred by buyers because it means they don’t have any additional out-of-pocket costs (i.e. paying a $10,000 commission to their agent).
With REX, the buyer will be responsible for paying their agent’s commission which affects the amount of money they have for the down payment and closing costs. This will render many prospective homebuyers unqualified and yield a less favorable and lower sales price for homeowners selling with REX. Also, 87% of buyers typically purchase their home through an agent. You really don’t want to deter 87% of the potential buyers from seeing your home, do you? REX’s pricing model is translucent at best and is more of a left-pocket vs. right-pocket game, which doesn’t benefit homebuyers or home sellers. But we’ll give them credit – it does attract attention from a marketing standpoint!
REX is an LA-based company looking to expand into hot markets like Texas. Since you live in Texas, you know this is not LA. Real Estate is hyperlocal and different in every geography of the United States.
Having a local expert that understands the market is extremely important. Jovio only hires agents with a strong track record and understanding of markets in Texas. Jovio understands Texas and the importance of cooperating with the community of brokerages and agents in town to ensure your property sells quicker and for more money.
From Supercharged Digital and Traditional Marketing to local market expertise, these advantages empower Jovio to sell their client’s homes 4x faster on average compared to our competitors. Often, we have properties under contract while they are still “coming soon”. But don’t take our word, hear from these friendly Texans who sold with Jovio to pursue their retirement dreams in Panama.
Now let's turn it over to you. What do you think? Would you sell with a non-traditional agency like REX or Jovio? Why or why not? We want to hear from you! Plus, here's a little more info on how Jovio compares.