“Alexa, give me $5,000 in free smart home products and find me an agent.”
Alexa might not answer (yet), but Amazon will. Finding a real estate agent and settling into a new home has now been streamlined into one process with Amazon’s new TurnKey program, which partners with Realogy Holdings Corp.—the largest full-service residential real estate services company in the U.S.—and its affiliated brands, such as Better Homes and Gardens Real Estate, Coldwell Banker, CENTURY 21, Sotheby’s International Realty and ERA Real Estate.
The initiative was announced earlier today and matches up potential homebuyers, using the Amazon portal, with a local Realogy agent, selected for their “exceptional customer service record and local market expertise.” If the consumer purchases a home with that agent, they receive up to $5,000 worth of Amazon Home Services (in gift card form) and smart home products (delivered directly to their new property).
How It Works
The Amazon rewards are categorized on a tiered system. For homes valued between $150,000 and $399,000, buyers receive a package valued at $1,000, with $450 in credits toward Amazon Home Services. Buyers for homes priced between $400,000 and $699,000 receive a larger package, valued at $2,500 with $1,000 toward services. The most impressive package, offered to homebuyers for properties over $700,000, is valued at $5,000, with $1,500 in credits toward services. All tiers provide buyers with a 10 percent coupon on up to $200 in eligible Amazon Move products.
Depending on the property’s sale price, buyers who purchase through the program are eligible to receive these products, along with installation services at no extra cost to them:
- Echo Dot
- Echo Show
- Ring Doorbell II
- Sonos Beam
- Eero WiFi
- Fire TV Cube Kasa Lightbulbs
- Smart Things Hub
- Wave Connect Camelot Deadbolt
- Doorbell Pro
Here’s an introductory video:
“Realogy and our brands are always looking for ways to give consumers an awesome home-buying experience with a terrific real estate agent, and today’s launch of TurnKey is a big part of that continued strategy,” said Ryan M. Schneider, Realogy’s chief executive officer and president, in a statement. “Realogy’s great affiliated agents serve their clients during one of the most important moments in their lives, and Amazon’s services and products can transform that moment to make it rewarding in a way no one ever has before.”
“Customers can be overwhelmed when moving, and we’re excited to be working with Realogy to offer homebuyers a simplified way to settle into a new home,” said Pat Bigatel, director of Amazon Home Services, in a statement. “The Amazon Move-In Benefit will enable homebuyers to adapt the offering to their needs—from help assembling furniture, to assisting with smart home device set up, to a deep clean, and more.”
Over the last several years, Amazon has been making moves that many predicted would inevitably land the mammoth online marketplace right in the center of real estate. An Alexa Skills capability for agents was one of the earliest appearances. In May 2018, Amazon further worked its way into homes, tying into the real estate process with experiential showrooms that capitalized on the smart home movement.
This recent partnership with Realogy is representative of an industry that has become ultra-competitive. Amid downcast shares since May, Realogy’s recent play to maintain an edge bumped stocks back up, increasing by over 25 percent in Tuesday’s premarket following the announcement.
Realogy is paying for the TurnKey benefits in return for leads generated through the program, accessible through www.amazon.com/turnkey. It is currently being offered in the following markets: San Francisco, Los Angeles and Sacramento, Calif.; Washington, D.C.; Chicago, Ill.; Dallas/Fort Worth and Houston, Texas; Seattle, Wash.; Phoenix, Ariz.; Atlanta, Ga.; Tampa and Orlando, Fla.; Minneapolis/St. Paul, Minn.; and Charlotte, N.C.
“When we designed TurnKey, we recognized that ‘closing’ on a home is really just the beginning of the home-buying journey,” said Eric Chesin, senior vice president and head of Strategy for Realogy, in a statement. “We are proud to team up with Amazon to extend the value we bring to buying a home beyond the moment you first unlock your new front door.”
Liz Dominguez is RISMedia’s associate content editor. Email her your real estate news ideas at email@example.com.
Comment This looks exciting if you are in inside but scary if you are not?
Maybe Amazon should consider partnering with smaller local boutique real estate firms as well. These firms also provide full-service residential real estate services and their agents work much harder to provide top notch service to sellers and buyers that eventually produces a streamline of referrals. That’s the kind of business Amazon would benefit from.
-Luciano Rios Property Group, New City, NY
Realogy and our brands??
Is Realogy an independent RE company?
There goes the neighborhood again. I question the legality of giving anything other than some flowers, etc to a buyer. Of course it depends on the state. SO how does Amazon make money from this? They cant take a loss — how do they get paid—which also may mean getting paid for licensed activity even though the transaction is handled by a licensed agent. So many questions come to mind.
And looks just like Zillow and its ilk,including gobs of almost FSBO type websites that take info from our MLS’s then go into direct competition. Amazon does nothing for free. How does reaology pay for the extras? If they can afford that and make a commission that an be split with up to four licensees, the seller/buyer/both is/are paying too much. Is this also a way to recruit new agents into just those now covered by realogy? Will they start letting any broker sign up for a fee or a split of the commission? This warrants a very close look.
What will be the referral fee to Amazon? Will agents be allowed to charge whatever commission they choose?
How do I become one of your preferred agents, so that I can join in on the fun?
Comment Once again AMAZON makes a move that spits in the face of small business. How is this not steering? How is it legal?
So Amazon is looking to make it easier for them to sell you more and with your purchase information, what will they sell you then? Or maybe sell your information that is. A little too much like ‘Big Brother’ in my opinion
I am a Realtor with Century 21 Hardee Team in Magnolia/Tomball Texas. I would like more information on how to become one of the agents selected to work with potential buyers in my area.
Comment This comment will probably not be published but I want to say that with over 35 years as a broker in the real estate business I have found that people have made huge mistakes getting their information from web sites rather than contacting an experienced agent to help them through the buying and selling process. The majority of the people they get in contact with through the web are the ones that pay a fee to the host to get leads.
Amazon and Realogy’s marketing promotion reminds me of the real estate market downturn from 2007 -2011. Builders and agents were offering buyers just about everything to get them to buy a home, including appliances, tv’s, motorcycles, vacation, etc… Unfortunately, the money has to come out of somebody’s pocket. In the end, all of this is going to amount to how low of a commission is a real estate agent willing to work for.
Good morning Liz,
Great news❗️I’m a realtor with Compass in Marin County, California. I would like to know if I could be an agent for buyers in this program❓If yes, please let me know what I have to do. Thanks❗️
When we as agents offer $5000 rebates it’s called an illegal inducement to purchase..How can this be different and where is CAR when we need them!!!!!!!
So this is another way for Realogy to capture buyers and sell them back to Realtors as i am sure that in order to pay for these “gifts” for the consumer they will be taking the money out of the realtors pocket
I am a Realtor in the Cleveland, Ohio area. I have been voted by Cleveland Magazine as one of the areas Top Realtors. How can I become an agent with Turnkey? Please let me know. Thank you, Carol Herzing 440-759-3347 firstname.lastname@example.org
I can for see the end of agents that not able to become a part of this. I am a ReMax agent and fear we are seeing illegal promoting if this is in Colorado. I wish we had a ruling from the Colorado real estate Commission. I know you will not pursue this ave but i will
Thanks for reporting this
This should be reported and reviewed by HUD and State Commission Agency since it sounds like a kick-back and/or Anti-Trust tactic that they’re launching to take more control and power backing by Amazon’s vast resource of online marketing system to kill off little Real Estate firms/companies business.
This is a RESPA VIOLATION. It is also a violation of the national Association of realtors code of ethics. Help police the industry and shut them down.
Send a link to this article with your complaint to:
More disruption to the industry. I guess it’s time to improve my customer service even more. This will always be a relationship business no matter what Zillow, Redfin, amazon and others like them do. Like at purple bricks. Gone out the US.
So like all others, if not a large affiliate, how does a veteran boutique brokerage affiliate if at all?
Michael E. Cassello
email@example.com / 203-215-0169
If we expect that Amazon will consider the small Real Estate Companies, we are dreaming, Amazon is trying to take all sort of businesses out of business.I, like Ray Lindsey ask myself what is NRA and CAR are going to do, or are we going to let this giant take over our Industry without any fight.
I’m presuming the fee to give away such an inducement is probably too hefty for small independent brokers like me to participate. And it does bring into question certain legal issues, not the least of which could be restraint of trade. Where RESPA stands on this is another. I will bet that Amazon has done some homework on the loopholes, but this seems a bit out of compliance with ethical real estate transactions.
The challenge will be on how agents are selected and leads and representation are managed. It may be difficult for mid size and small agents to get lead recommendations.
In another article in Forbes
…”The offering—dubbed TurnKey—will allow homebuyers in 15 cities to instantly connect with a pre-vetted, high-rated real estate agent in their area. ”
“Here’s how it works: Homebuyers head to Amazon.com/TurnKey, enter four pieces of information—name, phone number, email address and city—and a TurnKey representative reaches out first by text, then by phone call, within just a few minutes. After a quick briefing, TurnKey then connects the buyer live on the call with a hand-selected agent in their area. The agent takes over from there, and the buyer proceeds with their home search with the Realogy agent in tow.
Comment i want in on how to be one of these agents with Coldwell Banker Tulsa metro area
Hello! I’m an agent with BERKSHIRE Hathaway in Chicago and would love to get some information about becoming a partner agent for Amazon and Realogy. Please contact me- janherron.realtor