Compare Sold.com and Rocket Homes

Editor's Rating

Users' Rating

Editor's Rating

Users' Rating

For Sellers

Referred Agents
30%
Referral Fee
Sold.com does not provide real estate services to home sellers. Instead, this company matches consumers with various real estate agents in exchange for a 25% referral fee. Sold.com results suffer from pay-to-play bias because the network does not match consumers with agents unwilling to pay 25% of their commission to Sold.com.

For Sellers

Referred Agents
25%-40%
Referral Fee
Rocket Homes does not provide real estate services to home sellers. Instead, this company matches consumers with various real estate agents in exchange for an undisclosed referral fee; typically these fees are 25%-40% of the agent’s entire commission. Rocket Homes results suffer from pay-to-play bias because the network does not match consumers with agents unwilling to pay 25%-40% of their commission to Rocket Homes.

For Buyers

Not Applicable
0
No Rates
Sold.com does not match consumers with buyer’s agents.

For Buyers

Referred Agents
25%-40%
Referral Fee
Rocket Homes does not provide real estate services to home sellers. Instead, this company matches consumers with various real estate agents in exchange for an undisclosed referral fee; typically these fees are 25%-40% of the agent’s entire commission. Rocket Homes results suffer from pay-to-play bias because the network does not match consumers with agents unwilling to pay 25%-40% of their commission to Rocket Homes.
You are now comparing two different service models: Sold.com is a referral fee network that does not provide real estate services while Rocket Homes is a referral fee network that does not provide real estate services
Compare Sold.com and Rocket Homes for home buying and selling. HomeOpenly is an impartial and an open resource focused on trending real estate services, portals and start-ups.

First published: 02 April 2019
Last updated: 29 March 2020

Selling with Sold.com

Sold.com is a referral fee network designed to collect fees by matching consumers with local real estate agents willing to participate. Sold.com operates as a licensed real estate brokerage in California under BRE License #01937601, but it does not produce any services that are typically offered by real estate agents and does not represent consumers when selling real estate in any State.

When consumers submit information to Sold.com, this information is simply sold to real estate agents who are willing to pay for it with a 30% share of their commission.

Sold.com Pricing

Sold.com revenue comes from referral fees.

Listing Services

  • This Service Does Not Represent Sellers

Buyer's Agent Services

  • This Service Does Not Represent Buyers

Sold.com Editor's Review:

On paper, Sold.com seems to have a great idea – to provide its users with the best way to sell a home, but in reality, it is a referral network designed to steer consumers toward agents and other services willing to pay a cut of their commission back into the network.

Sold.com states that it is an “unbiased” and consumer-focused service, but the actual model turns out to be much less effective - Sold.com is a California licensed real estate broker that collects a 30% referral fee from all real estate agents that participate.

This fee makes it hardly a free service for anyone since referral fees are inevitably passed down to consumers. More importantly, Sold.com applies this pay-to-play bias towards all matching results, meaning, only real estate agents that have agreed to pay a referral fee are displayed in match results for consumers.

Sold.com 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.

Sold.com plays fees down to consumers - it states directly that the service is 100% free, but at the same time, it rigidly locks every participating real estate agent into 30% referral fee attached to the back-end of every contract. As a licensed real estate agent that doesn’t perform any real estate services or takes any responsibility for the transaction, it is not entirely clear how this process works under the Business and Professions Code and RESPA.

Clearly, real estate agents only sign-up with Sold.com because the price of the referral fee can be easily incorporated into their client's agreement with excessive commissions. Sold.com receives the second lowest score because this service is clearly biased and it claims to provide the complete opposite of what it actually does.

Sold.com Service Areas:

United States

Buying and Selling with Rocket Homes

Rocket Homes is a referral fee network designed to collect fees by matching consumers with local real estate agents willing to participate.

Rocket Homes operates as a licensed Michigan real estate brokerage Rocket Homes Real Estate LLC License 6505-346028, but it does not produce any services that are typically offered by real estate agents and does not represent consumers when buying or selling real estate in any State.

When consumers submit information to Rocket Homes, this information is simply sold to real estate agents who are willing to pay for it with 25%-40% share of their commission.

Rocket Homes Pricing

Rocket Homes revenue comes from referral fees and sale of user data.

Listing Services

  • This Service Does Not Represent Sellers

Buyer's Agent Services

  • This Service Does Not Represent Buyers

Rocket Homes Editor's Review:

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. This fee makes it hardly a free service for anyone since referral fees are inevitably passed down to consumers.

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.

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.

Rocket Homes further claims to match consumers with “top-rated professionals,” but there is absolutely no third-party evidence for this. Rocket Homes Terms of Service directly states that “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.”

The main qualification for real estate agents who participate with Rocket Homes is their willingness to pay a referral fee. Rocket Homes is an affiliated brokerage of Quicken Loans. Quicken Loans is unable to collect referral fees from real estate agents directly due to rigid RESPA regulations. Instead, Quicken Loans is using Rocket Homes’s license as a loophole to bypass RESPA provisions that were designed to protect consumers from illegal kickbacks between real estate agents and mortgage companies.

Rocket Homes suffers from an incredibly poor Privacy Policy. Company states: “we will share your personal information (such as your name, address, telephone number and e-mail) to allow third parties to contact you (even if you are previously listed on any state, federal or corporate do-not-call list) regarding their products or services that include mortgage, moving companies, telephone service providers, internet service providers, cable and satellite television service providers, and real estate agents.”

Rocket Homes plays hidden referral fees down to consumers, but it rigidly locks every participating real estate agent to the back-end of every contract. As a licensed real estate agent that doesn’t perform any real estate services or takes any responsibility for the transaction, it is not entirely clear how Rocket Homes works under the Business and Professions Code and RESPA.

Clearly, real estate agents only sign-up with Rocket Homes because the price of the referral fee can be easily incorporated into their client’s agreement with excessive commissions.

Rocket Homes receives the lowest score because it simply sells user information to third parties without any clear benefit to anyone other than itself. There are exactly zero benefits to consumers when using this referral fee network - the only effects consumers gain with Rocket Homes are hidden fees, privacy concerns and blind matches with agents willing to part with 25%-40% of their commission. This model incorporates in itself everything real estate process shouldn’t be. Rocket Homes must be well aware of these issues but continues to operate on pay-to-play methodology in order to collect fees that needlessly make home buying and selling more expensive.

Rocket Homes Service Areas:

Arizona, Florida, Illinois, Massachusetts, Michigan, North Carolina, Ohio, South Carolina, Tennessee, and Washington.