What happened
Shares of Realogy Holdings (RLGY +0.00%) have soared today, up by 13% as of 11:15 a.m. EDT, after the company announced a new partnership with e-commerce giant Amazon.com (AMZN 1.47%). Pre-market gains had been as high as 58%.
So what
The companies are launching a homebuying program called TurnKey that matches homebuyers with participating real estate agents in 15 markets. Realogy's brands include prominent names like Coldwell Banker, Century 21, and Sotheby's International Realty. TurnKey will match consumers with agents based on the homebuyer's profile.
Image source: Getty Images.
"Realogy and our brands are always looking for ways to give consumers an awesome homebuying experience with a terrific real estate agent, and today's launch of TurnKey is a big part of that continued strategy," Realogy CEO Ryan M. Schneider said 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."
Now what
Amazon is pitching in a Move-In Benefit, where the company will connect the buyer with local service providers that can help buyers get settled or install smart home products. Home services could include things like deep cleaning or furniture assembly, among others. Upon closing, the e-commerce giant will provide a package worth anywhere from $1,000 to $5,000, depending on the purchase price of the home.
|
Home Purchase Price |
Package Value |
|---|---|
|
$150,000 to $399,000 |
$1,000 |
|
$400,000 to $699,000 |
$2,500 |
|
$700,000 and above |
$5,000 |
Data source: Amazon.
It does not appear that consumers need to be Prime members to receive the Move-In Benefit.
