Rocket Homes Review: What It Is, Benefits And More
With many home buyers going online to search real estate listings, it can be challenging to decide which digital platform best suits their needs.
Rocket HomesSM makes it easy to find and buy your next dream home, whether you’re searching for listings online, looking to get in touch with a real estate agent, or working to get your mortgage preapproval.
This review will dive into what Rocket Homes is, how it works, and the benefits of leveraging their digital platform.
What Is Rocket Homes?
Rocket Homes is a company that specializes in helping people find the perfect home online. They offer personalized help and support, making the process easy and stress-free.
Rocket Homes has a robust website where home buyers and sellers can search for a wide range of properties, contact an agent and get preapproved for a mortgage all in one place.
Houses for sale can be found through Rocket Homes in all 50 states, so no matter where you’re located, they’ll have home listings available for you.
Here are a few other fast facts about Rocket Homes:
- They have assisted nearly 1 million clients
- They’re currently partnered with America's largest mortgage lender, Rocket Mortgage®
- They offer a network of verified partner agents that spans across 3,000 counties in all 50 states in the U.S.
How Does Rocket Homes Work?
Rocket Homes is a comprehensive platform that helps home buyers and sellers in every step of the process. They have a wide variety of housing properties available on their website, and offer connections with verified real estate agents across the country.
Buyers can get preaproved for a mortgage through Rocket Homes, which can be extremely helpful in speeding up the buying process.
Sellers can use Rocket Homes to list their houses quickly and easily. All you need to do is provide some basic information about your property, and Rocket Homes will take care of the rest.
Houses are listed on Rocket Homes for free, and there are no hidden fees or commissions.
How Houses Are Listed On Their Website
Rocket Homes allows sellers to list their house for sale on the platform. If you sell a property with a Rocket Homes Verified Partner Agent, you generally pay an industry-standard commission of 5% – 6% of the home's selling price.
If you're a seller, you'll contact Rocket Homes, who connects you with a local agent. Your home is syndicated to the Rocket Homes website as soon as your local MLS is published.
Listing brokers and agents must follow several rules for MLS compliance, which include:
- Submitting property information, including photos, to the service for publication and dissemination to those authorized by the MLS
- Acting as an agent for the sellers
- Abiding by the rules of the service
- Providing timely notice of status changes of the listing to the service
- Publishing sales information after the final closing of a sales transaction in accordance with the MLS Rules (10.2).
Finding A Verified Partner Agent
Finding an agent with Rocket Homes is easy. To contact a partner agent, you can start on the company's website or by calling (855) 411-0505.
Rocket Homes connects you with one of their Verified Partner Agents within 1 business day, depending on your requirements and location, who will assist in determining your financial situation and applying for financing.
Verified Partner Agents who work with Rocket Homes must meet the following criteria to be in their network:
- They must work for an eligible real estate brokerage.
- They must have been a full-time real estate agent for at least 2 years
- There’s a transaction minimum – agents must have closed eight transactions in the previous 12 months.
- Once an agent becomes a Rocket Homes Verified Partner Agent, they must maintain a rating of 4.5 stars out of a possible 5 stars within the Rocket Homes network.
The Rocket Homes Verified Partner Agent Network is composed of experienced and top-rated real estate agents that meet the criteria listed above. Their team identifies, engages and leverages brokers across the country to ensure that clients are provided the best real estate experience with the right agent.
Leveraging Rocket Homes To Buy A House
If you're looking to buy, the first thing you'll do when contacting Rocket Homes is go through the mortgage preapproval process. That involves an initial evaluation of your finances and assets, followed by a letter providing preapproval for a house loan of a specific amount.
Then you'll be referred to a Rocket Homes Verified Partner Agent, who assists in finding the right house for you. Once you've chosen a home, your preapproval gives you more serious attention from the seller and speeds up the home buying process.
Like we mentioned earlier, Rocket Homes offers a simple and convenient way to find, buy and enjoy a home that fits your unique lifestyle and finances. They offer a cutting-edge mobile app for Android and Apple that helps users create a plan to get into the home of their dreams.
Benefits Of Using Rocket Homes
Below are some of the benefits of using Rocket Homes to buy or sell your next house:
- Rocket Homes is partnered with America's largest mortgage lender, Rocket Mortgage
- They have assisted nearly 1 million clients
- They offer a network of verified partner agents that spans across 3,000 counties in all 50 states
- Buyers can get preapproved for a mortgage through Rocket Homes; this is extremely helpful in speeding up the buying process and strengthening purchase offers
- Sellers can use Rocket Homes to list their homes quickly and easily. All you need to do is provide some basic information about your property, and they will take care of the rest
- Properties are listed on Rocket Homes for free, and there are no hidden fees or commissions
- Buyers can use Rocket Homes to finance their next house, even if they don't use Rocket Mortgage
- Rocket Homes offers credit reporting and home affordability solutions.
Frequently Asked Questions About Rocket Homes:
Below are other frequently asked questions about Rocket Homes:
Is Rocket Homes Affiliated With Rocket Mortgage?
Rocket Homes and Rocket Mortgage are both entities of Rocket Companies, a Detroit-based holding company consisting of personal finance, mortgage and consumer service brands.
Can FSBO Sellers List On Rocket Homes?
Only licensed real estate brokers have access to the MLS. As a result, homeowners can't list their properties on the MLS directly.
However, FSBO sellers can leverage the industry-leading ForSaleByOwner.com platform that provides sellers all the tools they need to go through the process on their own.
How Do Real Estate Agents Partner With Rocket Homes?
To become a partner with Rocket Homes, real estate agents must meet the following criteria to be a Verified Partner Agent:
- Must work for an eligible brokerage
- Must have a minimum of 24 months' experience working as a full-time agent
- Must have closed a minimum of eight transactions in the last 12 months
- Must complete the Verified Partner Agent training program
Where Does Rocket Homes Operate?
Rocket Homes has expanded its operations across the United States and is currently operating in all 50 states within 3,000 counties.
Rocket Homes is a revolutionary platform that allows you to find, buy and enjoy the home of your dreams. If you're serious about buying or selling your next house, then it's worth considering Rocket Homes as an option for finding and listing property online.
Rocket Homes Review
About Rocket Homes
Rocket Homes gives you a seamless home buying or selling experience. Whether you’re searching for the right home, looking for a real estate agent that best fits your home buying or selling needs, or need to get a mortgage, Rocket Homes can help. They’ll be with you every step of the way, so you can be confident throughout your real estate journey.