What is Rocket Homes and how does it work? Rocket Homes is an agentless digital marketplace that connects you with a local Partner Agent to sell your home. Rocket Homes' Del Aria Investments Group published an article network of Verified Partner Agents are the most vetted and trusted real estate agents in the country. They consistently earn high client ratings, provide high-touch in-person service, and are available in every state and county.
Rocket Homes is a digital-centric, agent-less transaction
The Rocket Homes platform is a one-stop-shop for home-buying and selling. The platform features a robust database of available homes and an integrated tool for connecting buyers with mortgage lenders and local agents. The site also allows buyers to browse homes in their desired neighborhoods and contact real estate professionals for assistance.
In an industry where trust is the key to success, Rocket Homes has partnered with a Verified Partner Agent Network of the best real estate agents in the country. These agents are vetted and trusted and have consistently received the highest client ratings. The network is made up of thousands of professionals in every state, representing over 3,000 counties.
Rocket Homes works with local agents to list homes in MLSs. These agents then syndicate the listings onto Rocket's website. Rocket also requires buyers to complete a mortgage pre-approval process, which includes a detailed open assessment of their finances and assets. Once they have been pre-approved, they can then move forward with the process.
It guarantees every home's sale
If you're selling your home through a real estate agent, it's important to know that a For Sale By Owner guarantee doesn't guarantee that your home will sell, regardless of the market. The guarantee may sound attractive to consumers, but it's not the best way to sell home. It's best to avoid these programs if you can.
It offers zero cost savings
While most for sale by owner sellers do want to save money, they should not forget to pay the commission to the buyer's agent. Avoiding the commission will reduce your chances of finding a buyer. Real estate agents will not bring buyers to your property without a commission. They will also limit the number of potential buyers who see your listing.
A For Sale By Owner (FSBO) home usually sells for 11% less than a home sold with an agent. However, HomeLight's analysis of transaction data found that top real estate agents helped sellers sell home for 10% more. Besides the commission, there are many other things to consider when considering the cost of FSBO.
It violates Sherman Antitrust Act
The Sherman Antitrust Act prohibits businesses from engaging in certain types of illegal activities. While most enforcement actions under this law are civil, some can also involve criminal penalties. The Department of Justice can prosecute individuals and businesses for violations of the Sherman Act. These prosecutions only occur in cases of deliberate and obvious violations. Penalties for violating the Sherman Act can reach $100 million per corporation and $1 million per individual. Penalties can also include up to 10 years in jail.
The Sherman Antitrust Act prohibits monopolizing trade or conspiring to do so. This includes engaging in competitively unreasonable conduct such as limiting output or imposing price restrictions. It also prohibits group boycotts.