Amazon Will Give You a $5K Credit If You Buy a House (From Them)

They've teamed with Realogy to launch a real estate venture called Turnkey

The entrance of the Amazon logistics center in Amiens. (DENIS CHARLET/AFP/Getty)
The entrance of the Amazon logistics center in Amiens. (DENIS CHARLET/AFP/Getty)
By Evan Bleier / July 25, 2019 12:40 pm

Prime Day was more than a week ago, but Amazon isn’t done offering up deals.

This week, Amazon announced it was partnering with Realogy, the owner of Century 21 and Coldwell Banker, on a new real estate venture called Turnkey.

A service which will help pair potential buyers with real estate agents, Turnkey asks users to answer four questions about who they are and where they live. Once the questions are in, a Realogy representative will call them to hear what sort of house they want and how serious they are about moving.

If the users end up closing on a new home via a Realogy agent, they’ll get a coupon for $450-$1,500 to use on tasks such as unpacking and furniture assembly from Amazon Home Services. In addition to that, they’ll also receive $500-$3,500 to use on smart-home products. To get the maximum available benefit of $5,000 in equipment and services, a buyer would have to spend $700,000 or more on a home.

“Neither us nor Amazon envision this as a way to give cash back to people,” Ryan Schneider, Realogy’s chief executive, told The New York Times. “We took a different lens, thinking, ‘What could we do together that would just make it much easier to move into a house?’ People want the stress release of getting someone to clean the house or getting someone to put the furniture together.”

Following news of the partnership between Amazon and Realogy earlier this week, the real estate giant’s stock price and market cap shot up by 19 percent.

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