![]() Quicken Loans is unable to collect referral fees from real estate agents directly due to rigid RESPA regulations. Rocket Homes is an affiliated brokerage of Quicken Loans. The main qualification for real estate agents who participate with Rocket Homes is their willingness to pay a referral fee. “it does not guarantee or warrant the products or services of other product or service providers to whom it may refer you, including, but not limited to, real estate brokers/agents, lenders and escrow/settlement companies.” Rocket Homes Terms of Service directly states that Rocket Homes further claims to match consumers with “top-rated professionals,” but there is absolutely no third-party evidence for this. Rocket Homes audits all transactions because it needs to find out how much money real estate agents receive in commissions, inevitably collecting private details of consumer’s agreement for home purchase or sale. More importantly, Rocket Homes is a real estate agent that “does not engage in actual real estate broker services.” Rocket Homes systematically applies pay-to-play bias towards all matching results, meaning, only real estate agents that have agreed to pay a referral fee are matched with consumers. ![]() This fee makes it hardly a free service for anyone since referral fees are inevitably passed down to consumers. ![]() ![]() Rocket Homes is a Michigan real estate broker that collects an undisclosed referral fee (estimated at 25%-40% of agent’s commission) from all real estate agents that participate. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |