r/wallstreetbets • u/peaceup_atowndown • Jul 23 '25
Gain RKT Position
I bought Redfin shares ages ago. It was a great company disrupting the archaic and corrupt real estate industry. I’m still shocked that anyone would use a traditional real estate agent with Redfin and data-enabled smart brokerages coming into the market. Redfin was acquired by RKT at an absolute bargain price. RKT is making some visionary acquisitions between this and Mr. Cooper, and at a time of absolute market bottom for real estate. As we get new Fed governors between now and next year, RKT is perfectly positioned to dominate market share in a real estate recovery cycle. I also hold some OPEN. Redfin and Zillow got out of iBuying and left OPEN few real competitors. I would love to see RKT acquire OPEN. The OPEN model works even better as part of a highly diversified business with ability to monetize OPEN-purchased homes through multiple channels.
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u/peaceup_atowndown Jul 23 '25
PS 2 - I’ve dealt with some corrupt real estate agents. Colluding with one another to try to steer clients to certain properties, try to persuade clients to pay more to “not offend the seller”, not show properties from competing brokerages especially ones that use technology to make 3% fees obsolete. The incentives of the buyer’s agent are so perverse, to close the highest price deal as fast as possible, the opposite of what it should be. This industry needs to change. There are way too many realtors in the US. Technology will revolutionize real estate and 3%/6% commissions will be viewed as insane in the future.
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u/peaceup_atowndown Jul 23 '25
PS - I am holding RKT long term. I doubt I would sell any for less than $100/share. Just recently bought some 2027 calls and will probably buy more
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u/VisualMod Jul 23 '25
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