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

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

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.

One of the biggest mortgage lenders in the U.S. announced this week that it plans to buy a well-known real-estate brokerage — and the deal, once it goes through, could have major consequences for millions of home buyers.

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."