Amazon and Realogy Real Estate Partnership | TurnKey

Amazon and Realogy Real Estate Partnership | TurnKey

Today, Amazon and Realogy announced a new partnership called TurnKey. TurnKey will connect home buyers with real estate agents.

What Do Home Buyers Get?

Home buyers will get up to $5,000 to spend on certain Amazon home services and smart-home gear after they close.  The amount of the benefit will depend on the purchase price of the home.

What Does Realogy Get?

Realogy gets leads from Amazon’s platform.

What Does Amazon Get?

Presumably, Realogy will pay Amazon for every lead TurnKey generates.  Additionally, this partnership will encourage people to buy Amazon products.

What Does This Mean for Digs?

In effect, Digs may soon be competing with Realogy as a new player in the rebate brokerage market.  Realogy owns large brokerages in the New York market like Corcoran, Sotheby’s and Century 21.  TurnKey is not yet available in the New York metropolitan area, but my guess is it will be soon.  While there is no competing with Amazon, we still believe the Digs rebate model is more attractive.  Ryan Schneider, Realogy’s chief executive acknowledged that “Neither us nor Amazon envision this as a way to give cash back to people.”  But why not?  Isn’t that what every buyer would want if they could have it?

  • We are a boutique shop with the best agents, where high quality service is required. Your Digs’ agent will not disappoint you.
  • Cash is king – would you prefer a cash rebate to spend or save how you choose, or $5,000 to spend on select items at Amazon? $1,500 in Amazon Home Services may be useful – I have no idea how to assemble furniture! However, personally, I have no interest in $3,500 of Amazon smart-home products.  I prefer my Sonos and keeping Amazon out of my personal space to the extent possible.  On the other hand, I would never turn down cash with no strings!
  • Your rebate with Digs is much larger than your rebate with TurnKey. TurnKey will give you a maximum of $5,000 to spend at Amazon.  Digs has given some of its clients over $80,000 in cash rebates.

Please tell us what you think about this new partnership.  What seems like the better value proposition to you?  Knowing about both Digs and TurnKey, which would you prefer to have on your side?

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