Rocket to Acquire Redfin: What It Means for Homebuyers, Real Estate Industry

The deal is expected to close in the second or third quarter of this year.
Rocket to Acquire Redfin: What It Means for Homebuyers, Real Estate Industry
A Redfin real estate yard sign is pictured in front of a house in Seattle on Oct. 31, 2017. Stephen Brashear/Getty Images for Redfin
Mary Prenon
Mary Prenon
Freelance Reporter
|Updated:
0:00
Financial technology firm Rocket Cos. recently announced that it has entered into an agreement to acquire Redfin, one of America’s leading digital real estate brokerages with a reported 50 million monthly visitors, for $1.75 billion.

The deal would create a “one-stop shop,” as some real estate professionals have called it, but could also introduce unexpected costs for homebuyers and affect smaller real estate service providers, they said.

Mary Prenon
Mary Prenon
Freelance Reporter
Mary T. Prenon covers real estate and business. She has been a writer and reporter for over 25 years with various print and broadcast media in New York.