Rocket Companies, the parent company of the nation’s biggest mortgage lender, has announced plans to get into the iBuyer and brokerage business with a large team expansion.
According to a company press release, Rocket Homes will bring together a comprehensive suite of services that includes: credit reporting, home search, on-staff real estate agents, iBuying services to provide a back-up offer to sellers—along with direct access to Rocket Mortgage and Amrock, a closing and settlement services provider.
The iBuyer program will facilitated through third-party partner companies, ensuring home owners are given the opportunity to receive a guaranteed offer on their house, eliminating the need for contingency offers altogether.
Rocket Homes agents will begin working with the public beginning in the fourth quarter of 2021, offering homeowners a lower commission of only 1.5 percent for the selling agent, as opposed to the traditional fee of 3 percent. The company notes this will amount to an average savings of $4,500 on a $300,000 home sale.
Rocket Homes’ on-staff real estate agents, its iBuyer program and additional forthcoming innovations will be released throughout the remainder of 2021 and into early 2022.