Realogy unveiled on Tuesday the first-ever real estate benefits program for AARP members, called “AARP Real Estate Benefits from Realogy.”
The benefits program will allow AARP members to receive $300 to $5,500 when buying or selling a home with one of Realogy’s residential real estate brands, including Better Homes and Gardens Real Estate, Century 21, Coldwell Banker, Corcoran and ERA. The program will help serve Americans who are 50 and older, one of the largest groups of homebuyers and sellers, as recently reported by the National Association of Realtors (NAR).
“Realogy is committed to delivering high quality real estate services to our consumers during these difficult times,” Katrina Helmkamp, president and CEO of Realogy Leads Team and Cartus, said in a statement. “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.”
The cash back bonus program will be available in most states, but in select states, it will be presented as a MasterCard Max gift card, or as a commission reduction at closing. Participating homebuyers and sellers will receive varying amounts, depending on the purchase or sale price of the home.
“For many older Americans, relocating to a new home is part of a major life stage transition, such as retiring, downsizing or changing jobs,” John Larew, president and CEO of AARP Services, said in a statement. “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.”
In conjunction with the release of the benefits program, Realogy conducted a survey of over 1,000 American adults, examining homebuyer sentiment in the wake of the COVID-19 pandemic. The survey found that 82 percent of Americans 50 and older said receiving about $1,250 through a real estate cash benefits program would be meaningful. Additionally, 29 percent of adults 50 and older said they would put the money into an emergency savings fund, whereas 22 percent of adults under 50 said they would put this cash benefit into a savings fund.