The online retailer just announced a new partnership with Realogy Holdings, umbrella company of leading real estate brands including Coldwell Banker, ERA, Sotheby’s International Realty, Better Homes and Gardens Real Estate, and Century 21. Called TurnKey, the new program “seamlessly connects buying a house with making it home,” said Amazon.
“Realogy Holdings Corp. (NYSE: RLGY), the largest full-service residential real estate services company in the United States, today announced in collaboration with Amazon the launch of TurnKey, a new homebuying program that simplifies the process of finding and settling into a new home,” the company said in a release.
To be specific, “Amazon is not getting into real estate—we are leaving that up to Realogy ,’’ an Amazon spokeswoman said on Barrons. “We simply work with industry leaders, including Realogy, to help customers enjoy all the benefits smart home products and home services provide.’’
The program will operate according to a three-step process, said Amazon:
• “Get matched with a hand-selected, local real estate agent
• Find and purchase your new dream home with your agent’s help
• Get thousands back in Amazon move-in benefits”
It's that third bullet that has homebuyers really excited. How it works is this: Once the home closes escrow, buyers will receive between $1,000–5,000 in fully installed Amazon smart home products and Amazon home services. The amount is determined by the purchase price of the home.
“The benefits could include deep cleaning or a handyman who will install shelving or mount a TV, for instance, as well as a ‘curated suite of smart home products’ installed by a professional vetted by Amazon,” said CBS News. “Not everyone will receive the $5,000 in Amazon devices and services,” “The top amount will only be given to buyers who purchase a home that costs at least $700,000.”
TurnKey has kicked off in 15 major U.S. markets: Los Angeles; San Francisco; Sacramento; Seattle; Phoenix; Dallas/Fort Worth; Charlotte, NC; Chicago; Atlanta; Minneapolis/St. Paul, MN; Denver; Tampa., FL.; Orlando, FL; and Washington D.C.
