Real Estate Hour

Amazon enters real estate market, collabs with Realogy

Amazon reportedly partnered with America’s biggest residential real estate broker Realogy, making its entrance in the real estate market. 

Under the Turnkey program, Amazon will refer its customers to a Realogy real estate agent, upon closing the deal, the customers can use up to $5,000 in Amazon services.

Based upon the deal amount, Amazon stated that it will provide the buyers in between $1,000 and $5,000 in Amazon products and home services after the costumer purchases a home.

Under the benefit, Amazon could sponsor services like installing shelves or mounting a TV, or as well as “curated suite of smart home products”, or deep cleaning by professionals.

The US Real estate market is shaken by Zillow, Redfin and Opendoor with their ‘instant buying’ schemes. Realogy got hard hit by the expansion of these three companies. 

The deal is sought to help both the companies mutually. Ailing Realogy, trying to cope up with its disrupted legacy is looking to boost up its business by using Amazon’s giant costumer base.

 Amazon is looking to set its foot in the real estate market through this deal. The deal will also push its smart products and home services. An experiment for Amazon, the deal will help in expanding and stabilizing its market, whereas, it is a lifeline for Realogy.

Turnkey, a popular real estate search engine, is all set to launch 3,000 real estate agents in several major cities across the US including Washington, Chicago and San Francisco. It serves as a lead-generation program for Realogy.

Amazon also stated that the benefits are tied to the home prices. The smallest deal will include at least two Echo smart speakers with Alexa home assistant capabilities, a ring door camera and home services of at least $450.

Amazon stated that the customers can reap full $5,000 worth benefits, if they close their home deal worth $700,000.

The deal is creating a buzz amongst the people in the US and around the world. It will be interesting to see how this collaboration between an e-commerce giant Amazon and real estate giant Realogy works out.


Recent Posts

Navigating Cyclical Trends: Challenges and Opportunities in Nifty Metal Index

The Nifty Metal Index comprises a dynamic group of metal-related companies listed on India's National…

1 week ago

Katchatheevu to Coco Islands, The Story of India’s Giveaways

The Katchatheevu island issue is back in the limelight after PM Modi mentioned it in…

2 weeks ago

Bengaluru’s Worsening Water Crisis Should be the Wake-Up Call for India and The World

Bengaluru is facing an acute shortage of 500 million litres of water every day, which…

2 weeks ago

The Aam Admi Party Conundrum: Will Kejriwal Run The Delhi Government From Prison?

Delhi's Chief Minister, Arvind Kejriwal, has been arrested by the Enforcement Directorate (ED) and will…

2 weeks ago

Planning to vote for Modi This Year? Wait! Give it a Read to Become an Informed Voter First

The Indian growth story has been famously dubbed the 'Amrit Kaal' by leaders and ministers…

3 weeks ago

Key Takeaways From Kovind Panel’s Report on One Nation One Election

The report highlights a two-step process in conducting nationwide simultaneous elections that needs many constitutional…

4 weeks ago