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Rocket’s Roll
The latest massive merger
#81
WELCOME
There’s no place like (Judy Garland’s) home.
Ever wonder what it’s like to sell a home with Hollywood history built into the walls? In a recent interview, Josh Flagg shared his experience representing Judy Garland’s Bel-Air estate—a meticulously restored Wallace Neff masterpiece built for the star in 1938 while she was filming The Wizard of Oz. At just 16, she lived in the residence with her mother and grandmother until she married composer David Rose. Today, the famous custom estate—which was later home to Quincy Jones and Marvin Gaye—is worth over $11M.
What makes luxury real estate so different from traditional buying and selling? Is it the buyers? The properties? The deal sizes or contract clauses? According to high-performance agents James Harris and David Parnes, it all comes down to lifestyle. When you learn how to communicate the luxury lifestyle each unique property offers—positioning the product not just as a property but as a way of living—selling high-end real estate becomes almost easy. Tap to hear more of James and David’s best advice for breaking into luxury real estate in the latest Q&A-style episode of Rise Above the Ranks.
TRACK THE MARKET: Rocket’s on a Roll
Just weeks after announcing its $1.75 billion acquisition of Redfin, Rocket Companies is back in the headlines—this time with a $9 billion deal to acquire mortgage servicing giant Mr. Cooper. It’s a strategic swing meant to solidify Rocket’s vision of a fully integrated real estate and mortgage ecosystem: where clients search with Redfin, take out a loan with Rocket, pay their mortgage through Mr. Cooper, and eventually refinance—all without ever leaving Rocket’s orbit.
The merger move also reveals an interesting trend happening in the mortgage industry. As banks pull back from the sector, non-bank players like Rocket are leaning in—turning mortgage servicing into a powerful retention engine. According to Axios, Rocket has an industry-leading 83% loan recapture rate, meaning the majority of their clients return to Rocket for future loans. Mr. Cooper sits at 50%, but with Rocket’s tools behind it, that number could climb quickly.
In today’s market, one defined by high interest rates and few refinances, retention offers the best chance of growth. And while other players support pieces of the real estate sales cycle, Rocket wants to own it all.
DIVE IN
The Friday Five
📖 Financial footing. Why homeowners are spending less of their income on mortgage payments.
👀 The Blue’s Clues Casa. This home-tastrophe chose one theme and stuck with it.
👀 Clipper’s condo. See inside Ben Simmons’ fully custom NYC apartment, now listed for $17M.
💡 New NAR. Big changes are coming—including 61 position cuts and a full restructuring.
💡 Hold your judgments. Why the wealthiest clients may not look like it.
LAST WEEK IN ESTATE ELITE
Josh Flagg took members behind the curtain on one of the biggest decisions an agent can make: choosing the right brokerage. From evaluating support systems to turning your move into a business opportunity, he shared the same playbook he used to build his own brand.
If you missed the session—or any of the past live Q&As with Glennda Baker, Tracy Tutor, James Harris, and David Parnes, there’s still time to catch every replay and explore more inside Estate Elite—with 14 days on us. Tap here to activate your free trial pass.
WHAT’S NEW FROM ESTATE MEDIA
Freeing Fannie and Freddie
The vast majority of home loans today are backed by the government—and most government mortgages are run through Fannie Mae and Freddie Mac, which have been under a government conservatorship since the 2008 housing crisis. But that may change soon.
Many policymakers are calling for looser government control of Fannie and Freddie, or even taking the government-sponsored enterprises fully private—two outcomes that could have a massive impact on the lending industry, mortgage rates, and homeownership.
In the latest episode of The Breakdown with Beverly Hills’ Super Realtor and cast member of Buying Beverly Hills Ben Belack, Ben explains exactly what privatization means for the market, rates, and your current clients. With real-time commentary on the story making mortgage headlines, Ben cuts the jargon to give agents simple insights and smart talking points you can share with your clients and team.
FEATURED LUXURY LISTING
TIPS & TAKEAWAYS
Play Nice in the Sandbox
Clients come and go, but you’ll work with the agents in your community again, and again, and again. Take Glennda’s advice: No matter how heated negotiations can get—or how much of the deal you have to carry—keep calm and make it to the closing table. Don’t burn your professional bridges, especially in a small town.
HANGS & HAPPENINGS
REALTOR Broker Summit | Louisville, KY | April 8-9. Get leadership and marketing insights tailored to brokers, real estate leaders, and teams ready to refine their strategies and jump ahead of the competition. Register for two days packed with workshops, presentations, meet-and-greets, and more.
Inman Connect | San Diego, CA | July 30 - August 1. Sharpen your real estate game with immersive discussions, interactive workshops, top-tier networking, and more, alongside some of the biggest players in real estate, proptech, and lending.
Before we go…
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