About 3 weeks ago I wrote about how traditional real estate brokerages, personified by the likes of Realogy, were essentially doomed. Then on Tuesday
How will Amazon’s partnership with Realogy affect the real estate industry?
TURNKEY aka Amazon & Realogy are aiming to streamline the buying/selling process and running a service that helps you find a real estate agent.
My understanding is that Turnkey’s website will have some questions – once answered a Realogy rep will call, vet, and send the client to an agent…(think Zillow Premier Agent type system)
They’re supposedly going to offer up to $5000 if a client closes to use on Amazon Home Services (not shocking) as Amazon is focused on getting more ad revenue through search and its gadgets into our homes
Realogy on the other hand owns Century 21, Coldwell Banker and other brands but lost some 80% of its stock price over the past year so the union makes sense.
As for realtors not on Amazon/Realogy/Turnkey list – and where that list comes from – no one knows so it’s going to be an interesting journey.