Rocket Homes has plans to start iBuying – and discount real estate.
The Detroit-based company – and no. 1 mortgage lender in the U.S. by volume – fired off a 1,490-word press release Tuesday declaring its intention to “combine every aspect of home selling and buying into one simple, customizable platform.”
Such are the ambitions of an array of companies today including Zillow and real estate brokerage Compass. But Rocket’s announcement provides a couple of specific ways it wants to cut into the real estate market and challenge traditional agents.
Foremost is the ability for a home seller to work with an in-house Rocket real estate agent who is in “downtown Detroit” and will receive a commission of 1.5% of the sales price.
This remote agent would do many functions of a physically present salesperson, including “advising clients on the best list price, facilitate professional photos, list the house on the multiple…