REX User Benefit Map - A Critic & Questions

rex_user_benefit_map.md

The text below has been transcribed from a video produced by REX MLS. For certain bullets, I broke out lines where there were two ideas on one line.

1. BROKER

• List for $0.10 - $0.20/per listing
• Global Listing Exposure
• Data Ownership
• Earn REX for listing
• Monetize listings via ads/market reports
• Earn REX Merits based on reputation
• Predictable commission payouts (Phase 3)

1.1 Who (or what) sets the listing fee?

1.2 Why is the listing fee shown with an approximate range, but the amount you can 'earn' with a REX listing not illustrated?

1.3 What stores the reputation? What technology handles this? Is it a block-chain, or database?

1.4 What currency is the commissions paid-in? How does that work?

2. FIRM

• Global data interoperability
• Build Custom analytics/tools
• REX/IPFS/ETHEREUM node (run internal MLS)
• Reduced tx time/costs (Phase 3)
• Predictable commission payouts

2.1 Can you expand on what you mean by 'data interoperability', maybe with an example?

2.2 Is the REX/IPFS/ETHERUM node going to be open source?

2.3 Does anything in this list require a currency transaction other than "Predictable commission payouts"?

3. LANDLORD/LESSOR

• List for $0.10 - $0.20/per listing
• Global Listing Exposure
• Data ownership
• build custom tools and analytics/tools
• Decrease time/cost through tx based smart contracts
• Global title search
• Tokenize Property (Phase 4)

3.1 Isn't Tokenizing properties going to have massive regulatory hurdles? How do you plan to mitigate this? If part of your architecture is centralized, and you're not anonymous, they will come after you. How is REX going to possibly afford to work against every state-backed agency?

3.2 How far out is the Global title search? How does this work? Where is this stored, if the full nodes have a 90-day cliff?

4. BUYER/LESSOR

• Free Search
• Search global experts through REX merit system
• Purchase market/property/appraisal reports
• Global title search
• Reduced tx fees

4.1 Can you approximate what tx fees will be in this REX-powered world? Will Brokers be working for a materially less amount of money? Please state assumptions with any reply.

4.2 There are very big projects, dedicated directly at creating a distributed markets for buying/selling digital (and physical) goods. See OpenBazaar, for instance. Is REX trying to solve this same problem? Or are we just talking about a website that is centralized, selling stuff for rex tokens?

4.3 What is the REX merit system? The word merit doesn't appear in the white paper.

5. GENERAL USER

• Search Free
• List third party properties, earn REX
• Curation Feeds: Create and monetize spam/comparable property feeds

5.1 How many of these do you envision?

5.2 How will territories be handled?

5.3 Will feeds be transferable? ie. can somebody setup a feed, get it humming with a following, then sell it to somebody with deep pockets?

6. REAL ESTATE RESEARCHER

• Search free + purchase property reports
• Global title queries

6.1 Are these somehow different than people who are curious and in another bin?

7. AI

• Utilize REX Database for models, prediction analytics

8. SOFTWARE DEVELOPER

• Build custom tools and analytics

8.1 & 7.1 How is 'AI' different from 'SOFTWARE DEVELOPER'? These feel like the same types of people. Maybe it should be merged with 6, and just changed to 'Analyst'.

9. CRM'S [sic]

• Provide Global Listing Exposure
• Access to REX's database/tx Software

9.1 Is this just a competing front-end app?

10. REAL ESTATE DEVELOPER

• Search Free
• Global Title Search
• Tokenize ownership/project financing

10.1 The tokenization process, as explained in other documents, seems to require trust and mirror the legacy system's model but instead of fiat and regulation rex uses's their Dapp, rex tokens and trust. I'm highly skeptical that this will materialize. Can you zoom in on the architecture of this specific piece, and explain how it will work?

11. LENDERS

• Crypto Lending
• Save time/paperwork through REXtx [sic?] Software
• Global lead pool

11.1 There are entire other projects dedicated to just lending. Can you zoom in on the architecture of this specific piece, and explain how it will work?

12. SELLER

• List for $0.10-$0.20/per listing
• Global Exposure
• Data ownership
• Earn REX listing rewards

12.1 Has anybody modelled the number of sellers that will list their property on REX MLS, over time? Are we looking at 1K listings in the first year, or 10M? Please state assumptions.