“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:
Ring Doorbell II
Fire TV Cube Kasa Lightbulbs
Smart Things Hub
Wave Connect Camelot Deadbolt
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 firstname.lastname@example.org.