article thumbnail

Rocket-Redfin deal sparks uncertainty over Bay Equity’s future

Housing Wire

billion deal to acquire digital real estate brokerage firm Redfin , industry observers are still trying to understand the future of one key asset: Bay Equity Home Loans. While the companies remain quiet on their plans, some Bay Equity employees arent waiting for answerstheyre already looking for new jobs. billion in 2022, $4.2

article thumbnail

Splitero secures $350M in funding from Blue Owl Capital

Housing Wire

As consumer debt reaches all-time highs and the cost of living continues to escalate, home equity investment fintech Splitero on Thursday announced a purchase commitment from funds managed by asset manager Blue Owl Capital. trillion in equity, of which $11.2 At the end of third-quarter 2024, U.S. mortgage holders held $17.2

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Rocket lays off 2% of workforce after closing Redfin acquisition

Housing Wire

billion all-stock acquisition of real estate brokerage Redfin. Rocket is buying the digital real estate brokerage in an all-stock transaction valued at $1.75 billion in equity. The Seattle-based brokerage company laid off 46 employees. The cuts affected roughly 2% of the firm’s workforce.

article thumbnail

Survey shows buyers gaining leverage as real estate market slows

Housing Wire

The housing market continued to cool in May, with buyer leverage increasing across many regions of the country, according to a new survey from The Real Brokerage. Branding takes back seat to economics, culture Survey findings suggest that brand reputation plays a limited role in how agents choose a brokerage.

article thumbnail

What went wrong at Redfin?

Housing Wire

At the same time, agent counts at other publicly traded companies have exploded, with The Real Brokerage (+1,173%), Fathom Realty (+136.6%), Compass (+78.8%) and eXp Realty (+64.9%) leading the way. This dynamic makes many consumers willing to pay for a full-service brokerage, if for no other reason than to reduce their anxiety.

article thumbnail

Rocket Companies announces deal to acquire Redfin for $1.75 billion

Housing Wire

Today, Rocket Companies announced it has entered into an agreement to purchase digital real estate brokerage Redfin in an all-stock transaction valued at $1.75 billion in equity. The deal, which has been approved by the boards of directors of both Rocket Companies and Redfin, is expected to close in the second or third quarter of 2025.

article thumbnail

The Real Brokerage is banking on ‘pure tech innovation’

Housing Wire

While many brokerage leaders experiment with reimagined commission models and marginal tweaks, The Real Brokerage is playing a different game altogether. Only three years ago, The Real Brokerage was ranked for the first time on the RealTrends Verified Brokerage Rankings. Were going deep into pure tech innovation.