Rocket Homes starting iBuyer program

Company to hire on-staff real estate agents to assist sellers remotely

Rocket Homes starting iBuyer program
Rocket Homes CEO Doug Seabolt (Rocket Homes)

As optimism for iBuying grows, Rocket Homes is not sitting on the sidelines.

The Rocket Companies subsidiary plans to launch its own iBuying program in the coming months. The company will hire on-staff real estate agents who will begin assisting sellers in the fourth quarter, according to Inman.

Rocket Companies already has a significant footprint in mortgage lending with its heavily advertised Rocket Mortgage. Rocket Homes is growing as well, serving as a licensed real estate broker in every state while owning a property-search site and an agent-referral network.

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Newly hired real estate agents will work remotely from a Detroit office beginning in the fourth quarter, providing services to sellers including facilitating photos, handling paperwork, advising on listing prices and negotiating offers. The agents’ commission rate will be 1.5 percent.

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Sellers will also be able to connect with local agents through the Rocket Homes Verified Partner Agent Network or skip agents altogether with ForSaleByOwner.com.

The iBuyer program will guarantee an offer for homeowners looking to sell their current property while looking for something new. The program will be run through third-party companies.

The iBuying sector has faced growing pains, but a recent survey showed a wide majority of homeowners responding positively to an iBuyer pitch. Additionally, iBuyers have been raising offers as the housing market has risen.

Leaders in the iBuyer space include Zillow, Opendoor and Offerpad.

[Inman] — Holden Walter-Warner