Realogy RLGY Stock News

Realogy Holdings Corp (NYSE: RLGY) is making a run for the top early on in the trading session this morning, with gains of more than 23% early on. The gains come after the company announced that it has entered into a partnership with Amazon.com, Inc. (NASDAQ: AMZN). Here’s what’s going on:

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RLGY Stock Gains On AMZN Partnership

Realogy Holdings said that it has entered into a collaboration with Amazon this morning, sending the stock running for the top. In the press release, the company said that the partnership surrounds the launch of a new service known as TurnKey.

TurnKey is a homebuying program that was designed to simplify the processof finding and settling into a new home. The program combines the real estate expertise across various well-known brands from RLGY with the convenience offered by Amazon’s Home Services and smart home products.

Ultimately, TurnKey was designed to make the homebuying experience easier and more rewarding, simplifying a time-consuming event that many see as stressful.

Upon the luanch, TurnKey will offer select RLGY affiliagted brokers and agents in 15 major United States markets. These markets include but are not limited to Atlanta, Seattle, Chicago and San Francisco.

To get started, consumers simply visit www.amazon.com/tunrkey and enjoy the various services and benefits associated with the service.

Interestingly, those who use the TurnKey solution will receive a free Amazon move in benefit. This connects the homebuyer with services and experts in their area that will help to turn a house into a home. Customers will also recieve between $1,000 and $5,000 in complimentary products and Amazon Home Services, courtesy of Realogy.

In a statement, Ryan M. Schneider, CEO and President at RLGY, had the following to offer:

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’s chief executive officer and president. “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.

The above statement was followed up by Pat Bigatel, Director at Amazon Home Services. Here’s what Pat had to offer:

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. 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.

Finally, Eric Chesin, SVP and head of strategy at RLGY, had the following to offer:

When we designed TurnKey, we recognized that ‘closing’ on a home is really just the beginning of the homebuying journey. We are proud to team up with Amazon to extend the value we bring to buying a home beyond the moment you first unlock your new front door.

This Is A Very Big Deal!

Realogy is no stranger to real estate. In fact, the company owns top real estate brands like Century 21 and several others. However, Amazon is reshaping how we shop, and while shopping for a house is a big process, this interruption could bleed into real estate.

Considering this, Realogy will benefit greatly by being the partner that helps push Amazon into the real estate space. Moreover, Amazon’s vast audience is likely to increase the awareness of RLGY brands. All in all, this is a huge move for the company and its investors!

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