Amazon real estate partnership TurnKey boosts Realogy shares

By Real EstateFOXBusiness

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Amazon is offering homebuyers free services and smart home products through a new partnership with real estate services provider Realogy.

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Realogy’s shares jumped more than 25 percent in premarket trading on the news Tuesday.

TickerSecurityLastChange%Chg
RLGYREALOGY HOLDINGS CORP6.02-0.11-1.79%
AMZNAMAZON.COM INC.1,813.60-2.52-0.14%

The TurnKey program matches homebuyers in 15 U.S. cities with local real estate agents from brands like Better Homes and Gardens Real Estate, Century 21, Coldwell Banker, ERA and Sotheby’s International Realty, the companies announced Tuesday.

After closing, those homeowners will receive credit toward services like unpacking, cleaning and furniture assembly through Amazon Home Services, which matches them with vetted professionals, the companies said. The homeowners also receive a variety of Amazon’s smart home products like the Echo and Ring doorbell installed for free, as well as a coupon for Amazon Move.

“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. “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.”

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The exact amount of freebies offered depends on the home purchase price, according to Amazon. Homebuyers who spend between $150,000 and $399,000 get $450 in Amazon Home Services credit, an Echo Dot, Echo Show and Ring Doorbell II, as well as a coupon for 10 percent off up to $200 of eligible goods from Amazon Move.

A home purchase price between $400,000 and $699,000 will bring the new owners $1,000 in credit for Amazon Home Services, two Echo Spots, an Echo Show, Ring Doorbell II, Sonos Beam and eero Wifi, as well as the same coupon for Amazon Move.

Spending $700,000 or more on a home will get a homeowner $1,500 in Amazon Home Services credit, four Echo Spots, two Echo Shows, a Ring Doorbell Pro, Z-Wave Connect Camelot Deadbolt, two Fire TV Cubes, two Sonos Beams, 12 Kasa lightbulbs, an eero Wifi and Smart Things Hub, as well as the same Amazon Move coupon.

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TurnKey is currently available only in these metro areas: San Francisco, Washington, D.C., Chicago, Dallas/Fort Worth, Seattle, Phoenix, Houston, Atlanta, Denver, Tampa, Orlando, Minneapolis/St. Paul, Charlotte, N.C., Los Angeles and Sacramento.