Detroit’s big family of companies just keeps getting bigger.
What Happened
In-House Realty, a subsidiary of Rock Holdings Inc., bought tronc Inc TRNC 1.55%’s ForSaleByOwner.com, according to a Wednesday press release. The 19-year-old website is Rock’s fourth fintech acquisition in less than 18 months.
Why It’s Important
ForSaleByOwner.com provides a niche online service in marketing the 10 percent of U.S. homes sold directly by owners. It essentially secures for Rock the part of the real estate market In-House Realty hasn’t touched with its platform matching buyers and sellers with real estate agents.
“In-House Realty sees natural synergies between the ForSaleByOwner.com platform and their existing business working hand-in-hand with its partner agent network,” the announcement said.
With its more complete portfolio, In-House Realty now better complements the services of its sister company Quicken Loans, which issues home mortgages.
“We are in relentless pursuit of eliminating the complexities and stress that can sometimes accompany buying or selling a home,” In-House Realty CEO Doug Seabolt said in the press release.
What’s Next
In-House Realty plans to roll out an integrated platform in the coming months combining its sites’ real estate search and agent-match functions with Quicken’s home services.
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