An Australian real estate agent is fostering greater collaboration in the industry with a new app that acts as a shared database of buyers’ key criteria.
Set to launch on April 12, the REXY app enables agents to input a buyer’s preferences at events like open homes. A push notification is then sent to other agents with suitable properties, while the buyer receives a calendar date of upcoming inspections for relevant open homes.
Founder Prash Nayar of Harcourts Integrity in Mt Lawley, Perth, explained REXY was designed to foster an environment of ‘conjunction’ sales and information sharing, in a bid to create successful sales transactions.
“REXY will shift the mindset on conjunction sales and celebrate the concept of shared economy,” he said. “This ultimately allows real estate agents to interact with each other and share buyers, while continuing to provide the best service for their respective clients.”
Mr Nayar came up with the idea while conducting an open home on a weekend.
“The buyer didn’t like that particular property so I was looking at realestate.com.au on their behalf and making calls to other agents. I started thinking, ‘What is a quick way to facilitate this through a conjunct platform to make this transaction easier?’”
He realised there was no existing platform or proper means available to efficiently document transactions between buyers and available properties from other agents. So he began working on REXY, which stands for Real Estate DNA (XY).
The app will also work to create a seamless legal paper trail between agents, and Mr Nayar has a 10-year vision for REXY to evolve one day into an Artificial Intelligence (AI) shared network.
For the venture, Mr Nayar joined forces with Alistair Henrisson of Realworx Marketing, who has other app creations under his belt. REXY is his second venture into the real estate industry.
“The attention to buyers is often overlooked, especially for its potential for it to be a shared resource,” Mr Henrisson said.
REXY has completed its beta testing phase, and Mr Nayar said there was already interest from franchises and real estate industry bodies alike.
The app will officially launch at the Platform Perth on April 12, and will then be available at the App Store and Google Play.
