The Growing Trend of Smart Homes
It’s a well-accepted reality that technology has embedded itself deeply into our existence. Our smartphone and computer have become bionic appendages that facilitate a huge array of tasks, and without them, we’d have a much harder time getting through our daily routine.
Smart home technology is now the emerging trend that further integrates convenience and automation into our lifestyles. Whether it’s remotely controlling the temperature of your home or conveniently ordering more laundry detergent with a few simple words, a smart home can provide time-saving luxury to a growing number of homeowners.
Realtor Mag’s article, Are Your Agents Ready to Sell Smart Homes points out, “As the price of technology comes down and gadgets become easier to use, the connected home tech industry is seeing explosive growth, increasing 32 percent in just the previous year, according to the Consumer Electronics Association.”
What is a Smart Home?
The emerging buzz word “smart home” could soon hold as much selling power as “green home,” and experienced agents know the varying ways to make a few tweaks to capitalize on the modern appeal. So what qualifies as a smart or connected home? It’s much more than Wifi.
Washington Post’s article Buyers say they’re willing to pay extra for ‘smart’ homes outlines the baseline requirements to quality as a smart home: “It’s got to have either a smart security feature that controls access or monitors the property, or a smart temperature feature. It should also have at least two features from this list: smart refrigerators/washers/dryers; smart TVs and streaming services; smart HVAC system, fans or vents; smart outdoor plant sensors and watering systems; smart fire/carbon monoxide detectors and night lights; smart security locks, alarm systems or cameras; smart thermostats,”
How Common is Smart Home Technology?
As evidenced by the popularity of the Amazon Echo this past holiday season, more and more people are considering how they can integrate tech into their homes. Expectation of smart-home technology capabilities is increasing as homeowners integrate it into their daily habits and flow of life.
“The latest in an ongoing series of research projects by Coldwell Banker Real Estate found that 71 percent of buyers in a sample of 1,250 American adults want a “move-in ready” house and that 57 percent of those buyers looking at older houses would consider them updated — and more appealing as move-in ready — if they have smart-home features already in place. Fifty-four percent say that if they had to choose between otherwise identical houses, one with smart technology, the other without, they’d buy the smart home. Sixty-one percent of millennials would favor smart-tech homes, as would 59 percent of parents with children living in the house,” said article Buyers say they’re willing to pay extra for ‘smart’ homes.
How Can Agents Best Showcase These Features?
To pique interest and curiosity, consider handing out printed materials that describe a system’s specific capabilities or strategically placing descriptions next to interesting gadgets. Also be sure to detail the system’s retail value and installation costs when applicable.
These features are important to add to marketing collateral as well as postcards, social media posts and videos. A short video can be recorded and shared online to help prospective buyers envision how they can save time with smart refrigerators or a smart outdoor watering systems.
Be specific when listing smart technology features in the home as buyers are likely looking for specific technologies. It’s important to appeal to the right buyer to get a good return on the seller’s investment. These details can help you sell the home faster and at a higher price point by giving the seller an edge over competition.
Sign up for a free real estate marketing account.
Did you find this article helpful? Share it with your agent team and on social media!