Amazon enters the real estate business with Realogy partnership
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By partnering with Realogy, Amazon hopes to jump-start its smart home and home services businesses Amazon is finally getting into real estate.
The e-commerce giant announced on Tuesday a new partnership with Realogy, the nation?s largest real estate broker, called TurnKey that will provide the brokerage with exclusive leads on potential homebuyers while also boosting Amazon?s smart home division and Home Services, the company?s house cleaning, maintenance, and general handy man service. Homebuyers who purchase through TurnKey will receive up to $5,000 in free services from those divisions of Amazon.
The partnership will work like this: Prospective homebuyers will visit the TurnKey website and answer a few questions about where they live and what kind of house they?re looking to buy. Amazon will refer the lead to a Realogy agent, and if the homebuyer closes on a house through the Realogy agent, they get two coupons for Amazon services, courtesy of Realogy. One of the coupons will be $450 to $1,500 for Amazon Home Services, which provides services like furniture assembly, cleaning, and maintenance. The other will be a $500 to $3,500 coupon for Amazon smart home products. To get the maximum $5,000 benefit, the purchase home would have to be for $700,000 or more.
The partnership is a potential game changer for Realogy, which has endured a brutal year that saw its stock price drop by almost 80 percent because the housing market is cooling and the company is l...
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