One of the biggest mortgage lenders in the U.S. said it would pay $1.75 billion to buy a well-known real-estate brokerage. The deal, once it goes through, could have major consequences for millions of home buyers.

Redfin is being acquired in an all-stock transaction that values the real estate listing platform at $1.75 billion.

Redfin CEO Glenn Kelman on the benefits of joining Rocket: "Homes.com is running a Super Bowl ad, and Redfin might not be able to afford that. At least not on our own, but Rocket ran a Super Bowl ad."

Dan Gilbert's Rocket Companies plans to buy the online real estate brokerage firm Redfin, a $1.75 billion deal that would expand Rocket's presence in all things residential real estate. The all-stock deal was announced Monday morning and, pending approval by Redfin shareholders, is expected to close in the second or third quarter.

U.S.-based fintech firm Rocket Companies (RKT) has positioned itself as a stronger competitor to Zillow (Z) in the online real estate market

Rocket Cos. said Monday it would pay $1.8 billion in stock for the online real-estate agency Redfin Corp. in an effort to make it easier for customers to buy property using their mobile devices.

Rocket Companies announced a $1.75 billion deal to acquire Redfin. The mortgage titan hopes to leverage Redfin to take market share.

Redfin CEO Glenn Kelman on the benefits of joining Rocket: "Homes.com is running a Super Bowl ad, and Redfin might not be able to afford that. At least not on our own, but Rocket ran a Super Bowl ad."