Partnerships / Acquisitions

Amazon Offers $5K Credit To Real Estate Giant Realogy Home Buyers

With Amazon Offerings, Realogy Eyes Automated Homes

Amid the slew of real estate startups coming to market, with any number of approaches in changing the way real estate transactions are made, there are also new initiatives to change the way homes function.

And there are a few marquee names at work here, as reported by The Seattle Times: Publicly traded real estate firm Realogy is leveraging Amazon services and products to bolster residential technology and automation – and boost home sales.

The Amazon offerings reportedly span security, surveillance and automation products, as well as move-in services for buyers who transact with Realogy to buy homes, leveraged across the real estate company’s TurnKey program (in 15 markets). For Amazon, the move represents a deeper push into real estate.

Amazon’s interest in real estate may have been presaged two years ago, when the eCommerce giant posted a web page that seemed to hint the company would get involved with lead generation. That page was subsequently taken down.

This time around, the effort seems to have a bit more foundation (pun intended). The TurnKey program is indeed a lead generation service that functions for agents who work under Realogy brands such as Coldwell Banker. Amazon will have a dedicated landing page that will also take customers to Realogy sites if they move forward with Realogy’s real estate agents.

By way of example, if a customer buys a home through TurnKey, Realogy will offer promotions for bundled Amazon services and products, such as cleaning and furniture assembly. The bundles also feature Echo devices and a Ring doorbell camera. Altogether, the bundles are estimated to be worth as much as $5,000, according to The New York Times.

Realogy Senior Vice President Eric Chesin told The Seattle Times that the offerings from Amazon are bundled and selected in a way that helps people who have just moved into new homes.

In response to the news, Realogy’s stock was up 25 percent in intraday trading Tuesday morning (July 23).

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