As a shareholder, my concern is payback - if you are diluting the common, by issuing more stock to accommodate the transaction, the earnings have to be accretive. In this case it appears that the accretive nature is on the horizon. Legally, the broker (Redfin) must allow the customer to to choose their own lenders. If Rocket position themselves on price (they would have to), then the question is how many more mortgages do you have to write to make this transaction a breakeven proposition and how long will that take?
Great analysis. When I worked in real estate brokerages, agents knew the Redfin app was the most customer-friendly app. I've long believed that the employee agent model which was Redfin's differentiator, was also its biggest mistake. Redfin's system, from what I heard from agents, was really easy to use but once new agents realized they could make more money with a traditional brokerage they left. Redfin was never able to achieve a large market share and attempts to create a luxury division never got off the ground.
The part I'm thinking about is Rent.com. CoStar wanted it. Redfin got it. Zillow's building up its rental offering. How does the rental product fit into the Rocket universe or does it?
Not for Everyone. But maybe for you and your patrons?
Dear Nima,
I hope this finds you in a rare pocket of stillness.
We hold deep respect for what you've built here—and for how.
We’ve just opened the door to something we’ve been quietly handcrafting for years.
Not for mass markets. Not for scale. But for memory and reflection.
Not designed to perform. Designed to endure.
It’s called The Silent Treasury.
A sanctuary where truth, judgment, and consciousness are kept like firewood—dry, sacred, and meant for long winters.
Where trust, vision, patience, and stewardship are treated as capital—more rare, perhaps, than liquidity itself.
The two inaugural pieces speak to a quiet truth we've long engaged with:
1. Why we quietly crave for 'signal' from rare, niche sanctuaries—especially when judgment must be clear.
2. Why many modern investment ecosystems (PE, VC, Hedge, ALT, SPAC, rollups) fracture before they root.
These are not short, nor designed for virality.
They are multi-sensory, slow experiences—built to last.
If this speaks to something you've always felt but rarely seen expressed,
perhaps these works belong in your world.
Both publication links are enclosed, should you choose to enter.
https://tinyurl.com/The-Silent-Treasury-1
https://tinyurl.com/The-Silent-Treasury-2
Warmly,
The Silent Treasury
Sanctuary for strategy, judgment, and elevated consciousness.
As a shareholder, my concern is payback - if you are diluting the common, by issuing more stock to accommodate the transaction, the earnings have to be accretive. In this case it appears that the accretive nature is on the horizon. Legally, the broker (Redfin) must allow the customer to to choose their own lenders. If Rocket position themselves on price (they would have to), then the question is how many more mortgages do you have to write to make this transaction a breakeven proposition and how long will that take?
Great analysis. When I worked in real estate brokerages, agents knew the Redfin app was the most customer-friendly app. I've long believed that the employee agent model which was Redfin's differentiator, was also its biggest mistake. Redfin's system, from what I heard from agents, was really easy to use but once new agents realized they could make more money with a traditional brokerage they left. Redfin was never able to achieve a large market share and attempts to create a luxury division never got off the ground.
The part I'm thinking about is Rent.com. CoStar wanted it. Redfin got it. Zillow's building up its rental offering. How does the rental product fit into the Rocket universe or does it?