{"id":57191,"date":"2021-07-03T16:38:36","date_gmt":"2021-07-03T23:38:36","guid":{"rendered":"https:\/\/drduru.com\/onetwentytwo\/?p=57191"},"modified":"2021-07-03T22:29:40","modified_gmt":"2021-07-04T05:29:40","slug":"realogy-bids-to-add-to-housing-outperformance","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2021\/07\/03\/realogy-bids-to-add-to-housing-outperformance\/","title":{"rendered":"Near Breaking Out, Realogy Bids to Add to Housing Outperformance"},"content":{"rendered":"\n

Turnkey<\/strong><\/h2>\n\n\n\n

Two years ago I wrote a somewhat snarky article about a partnership between Realogy Holdings (RLGY) and Amazon.com (AMZN) titled “Realogy and Amazon.com Partner Up But Does It Matter?<\/a>” Real estate services company Realogy (RLGY) worked out a deal to increase order flow by hooking into Amazon.com (AMZN) smart products for the home. They called the partnership “Turnkey”. At the time, RLGY was sinking fast. The deal looked like a desperate move to stay relevant in an increasingly crowded space, with companies bringing innovative technological solutions for buying and selling homes. The episode contrasts with today’s Realogy outperformance. <\/p>\n\n\n\n

Less than a year later, the pandemic brought the partnership to a rapid end. Realogy did not provide an announcement. Instead, the company took down all the marketing materials and only mentioned the end of the Turnkey project in response to an analyst question in the Q2 2020 earnings conference call on May 9th. From the Seeking Alpha Transcript<\/a>:<\/p>\n\n\n\n

“And then the TurnKey program, the value proposition of the TurnKey program which we piloted with Amazon in 15 cities, the value proposition of that is all built around in-home services and in-home installation. And so we together kind of made the joint decision that we were going to suspend that because we think helping people with smart home products get their own services that require people being in someone’s home just doesn’t work in a COVID kind of social-distancing world.<\/p>

So we really like the TurnKey pilot program but we ran into this thing that really just cut the core proposition kind of off at the path. And we and Amazon, we had a decision point on the next phase of what we’re going to do that was in April. And in a COVID world bluntly it didn’t make much sense to continue that pilot. So we’re going to keep being creative on lead-generation opportunities like AARP, et cetera, but you’re not going to hear that much of us about TurnKey given COVID because of the way it kind of eviscerated the value proposition that the thing was built on.”<\/p><\/blockquote>\n\n\n\n