Realogy Holdings Corp., a full-service residential real estate services company, unveiled its AARP Real Estate Benefits from Realogy program
, tailored for close to 38 million AARP members.
With the program, members will be able to receive between $300 and $5,500 when purchasing or selling a home, through a participating agent, affiliated with one of Realogy's residential real estate brands, including Better Homes and Gardens Real Estate, Century 21, Coldwell Banker, Corcoran and ERA. The cash-back bonus is offered in most states. In some states a gift card or commission reduction at closing may be provided in lieu of the cash back bonus. The program is not available for employer-sponsored relocations or transactions in Iowa or outside the United States.
"Realogy is committed to delivering high-quality real estate services to our consumers during these difficult times," said Katrina Helmkamp, president and CEO of Realogy Leads Team and Cartus. "The AARP Real Estate Benefits from Realogy program, paired with technology used for virtual home showings, is empowering Americans 50 and older to choose how and where they live, but also allowing us to serve them with our expertise even in times of uncertainty."
John Larew, AARP Services president and CEO, said: "For many older Americans, relocating to a new home is part of a major life stage transition, such as retiring, downsizing or changing jobs. The real estate program from Realogy is designed to help AARP members successfully navigate an important milestone in their lives while saving money in the process. It is part of AARP's commitment to empowering people to choose how they live as they age."
Realogy also conducted a consumer survey of 1,106 American adults in May, to gauge how C0VID-19 has changed the home buying attitudes of Americans. In the survey, 82% of respondents 50 and older revealed that an average of $1,250 through a real estate cash benefits program would be somewhat meaningful.
"Americans 50 and older are more likely than Americans under 50 to say if they were to receive $1,250, the money would be put into an emergency savings fund (29% vs 22%)," according to a Realogy report
The survey also found that more than half (59%) of Americans say they would be comfortable putting their home on the market for sale virtually, and more than a quarter (27%) of the 50+ Generation are comfortable buying a home having seen it only virtually and not in person. The report states that virtual tours, virtual home inspections and detailed neighborhood information, along with high-quality photos, would help to ease the decision to purchase a home virtually.