Rocket buys Redfin
In a major move that could reshape real estate and home lending, Rocket Companies — the parent company of Rocket Mortgage — agreed to acquire digital brokerage Redfin for $1.75 billion.
The deal aims to create a seamless home buying and selling experience for Rocket by marrying its mortgage services with Redfin’s listing platform.
Find your lowest rate. Start hereDetails of the Rocket-Redfin deal
Rocket Companies announced on March 10, 2025 that it will buy Redfin in an all-stock transaction valued at $1.75 billion.
The acquisition aims to create a more streamlined, technology-driven home buying and selling experience by combining Rocket’s mortgage platform with Redfin’s popular real estate services. The deal is expected to be finalized in the second or third quarter of 2025, once it receives regulatory and Redfin shareholder approval.
“Together, we will improve the experience by connecting traditionally disparate steps of the search and financing process with leading technology that removes friction, reduces costs and increases value to American homebuyers,” said Varun Krishna, CEO of Rocket Companies.
Rocket estimates the merger will save $140 million in costs and create $60 million in revenue by 2027. Redfin’s stock soared by nearly 70% in the immediate aftermath of the announcement, while Rocket’s fell as much as 10%.
“Rocket and Redfin’s approaches to lending and brokerage service have always been two halves of one vision to make the whole home-buying process magical,” said Glenn Kelman, CEO of Redfin.
“We want a customer to be able to check her phone to find out what she can afford, see which homes are just right for her, schedule a tour with a local, expert Redfin agent, and get pre-qualified for a loan, all in a matter of minutes. Varun and I see how much better real estate could be when AI guides customers not just through that first step in their search, but all the way home, through the sale, the loan and then a lifetime of accumulating equity and wealth.”
Time to make a move? Let us find the right mortgage for youThe bottom line for home buyers
Lenders, real estate professionals, home buyers and sellers alike will pay attention to how the Rocket-Redfin deal plays out.
If successful in creating an improved end-to-end borrower experience, it could dominate the industries. It may even set off a domino effect, inspiring more companies to follow suit and claim market share by offering seamless, one-stop-shops.
