Smart Homes: What you need to know

“smart-home-phone-app"I’m constantly amazed by new technology, particularly the growing list of products that make our busy lives easier and more fun. While I may not run out and buy the latest model (I still have iPhone 6), I pay attention enough to keep up with personal technology.

But I’m stepping up my game when it comes to the innovative technology in “Smart Homes.” I’ve made it a priority to learn everything I can about this developing housing niche – from what it means to own or sell a Smart Home to the cool gadgets that make these houses so “smart.”

Smart Home products are delivering new levels of convenience, energy efficiency and luxury, not to mention value, to homeowners across the U.S. There are smart devices that turn on your lights and close your curtains on command, and automated thermostats that know when you pull in the garage.

It’s imperative to learn more. Not only do I think you’ll be as fascinated as I am, you owe it to your buyers and sellers to stay ahead of the burgeoning Smart Homes market.
I put together a three-point “Know This Now” checklist to get you started:

  1. Smart Homes’ impact on home sales will be huge. The Smart Homes market is predicted to reach $121 billion by 2022, at a CAGR of 14.07 % between 2016 and 2022, according to Markets and Markets. And, 81 percent of the respondents in a CNET survey said they’d be more likely to buy a home if it already has Smart Home tech installed.
  2. So what is a Smart Home? Think of a Smart Home as having at least three “smart” features that use connectivity technology remotely (Wi-Fi, Bluetooth, etc.) or a separate system in the home itself to control, automate or optimize functions such as security, temperatures, lights, and appliances.
  3. Smart Home products are becoming easier to install, more cost-effective and can increase the value of a house. More companies are realizing the potential revenue in the Smart Homes market, working to develop and deliver the best state-of-the-art products to consumers.

Learn about Smart Homes. Be ready with informed answers when your clients and potential clients want to know more. It could be your point of differentiation.

Written by Gregg Davidson
Managing Broker
ReeceNichols Real Estate, Southgate