Redfin announced the deal is expected to close in the second or third quarter of 2025, and will see Redfin operate as a Rocket-owned business.
Redfin CEO Glenn Kelman highlighted Rocket’s extensive experience in digital home loans and its shared mission to make homeownership more accessible.
“This deal is based on shrewd financial calculations but also on an instinct to go all out on the big thing: making the American Dream more accessible and affordable,” Mr Kelman said in an internal email.
The acquisition is set to enhance Redfin’s technology, expand its customer reach, and integrate lending and brokerage services more seamlessly.
Rocket and Redfin aim to create a one-stop digital platform where buyers can schedule a home tour, determine affordability, and secure pre-qualification for a mortgage in minutes.
Mr Kelman reassured employees that Redfin will continue to operate as usual until the deal closes.
However, once finalised, Redfin agents will remain central to Rocket’s real estate strategy, and Rocket has pledged to deepen its investment in Redfin’s agents, loan officers, and overall company culture.
“Rocket is committed to our agents and loan officers as Redfin’s primary source of revenue,” he wrote.
“For 21 years in a row, Rocket has ranked in the top 30 of Fortune’s list of the best companies to work for.”
Rocket has also expressed its intent to broaden Redfin’s site reach beyond its current 50 million monthly visitors.
The Redfin brand, known for its data-driven real estate insights, will remain intact, continuing as a trusted market disruptor.
Mr Kelman acknowledged that while there will be many questions in the coming months, Redfin and Rocket will work together to ensure a smooth transition.
“The only way we’ll win is together. Redfin has lived in its own world for a long time, and so it’ll be natural for us to think of Redfin as ‘we’ and Rocket as ‘them.’ But Rocket people will soon be my people, your people, our people.”
For now, Redfin will continue operations independently, with further updates expected as the deal moves through regulatory and shareholder approval processes.
