Jul 17

Is Amazon Getting Into Real Estate?

Is Amazon Getting Into Real Estate?

 

Is Amazon Getting Into Real Estate?

Is Amazon Getting Into Real Estate?

Online shoppers may have been too busy sorting through the deals on Amazon Prime Day this week to notice a “Hire a REALTOR®” page launched within the site. The web page was tucked within Amazon’s Home and Business Services section, where visitors can receive quotes from professionals on services like setting up new technology or assembling new purchases.

The page has since been taken down, but it did not go unnoticed by many real estate organizations, including the National Association of REALTORS®.

The website didn’t offer much more information other than a generic title of “Hire a REALTOR®,” a place to enter a ZIP code, and a “Coming Soon” banner. Amazon has not commented publicly about the page.

Some competitors may already be getting spooked if Amazon does decide to enter the real estate referral business. “When reports of the Amazon page surfaced, Zillow’s stock price slumped from $46.15 a share to $44.54 as of Wednesday morning, showing just how closely investors are watching the Seattle retailer,” reported an article in GeekWire.

NAR confirmed to HousingWire this week that Amazon did not receive permission from the association to use the word “REALTOR®” on its site. The term is trademarked by the association and certain guidelines must be followed to use it.

The page was removed by Amazon on July 12, a day after it first appeared.

Source: “Amazon Quietly Reveals Possible Expansion Into Real Estate,” HousingWire (July 13, 2017) and “Zillow Shares Slump as Amazon Webpage Hints at Expansion Into Real Estate Referrals,” GeekWire.com (July 12, 2017)

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