What Real Estate Pros Should Know About Smart Home TechnologyPDH Staff
Technology has led us to a point where innovations seem a common occurrence. What started as the clapper, a device that allows you to turn on the lights without even getting out of bed, has now evolved into the smart home.
Real estate agents are beginning to see these smart homes hit the market, and professionals are discovering that they still have a lot still to learn. Is real estate CE progressing fast enough? What do real estate agents need to know about smart home tech?
What Is a Smart Home?
Nearly half of homeowners either owned some type of smart home technology or intended to invest in it as of 2016. A smart home contains a variety of electronics connected to the Internet. Devices may include thermostats, entertainment systems, security cameras, motion sensors, appliances, sprinklers, locks, and even garage doors. Most people feel that having simply one type of smart tech does not mean you have a smart home.
Buyers are willing to pay more for certain smart home technology in their homes, especially when the buyers are millennials. One thing to keep in mind is that technology changes quickly. Smart tech today may be old news in just a few years.
What Do Real Estate Agents Need to Know about Smart Homes?
Approximately 81 percent of buyers have stated that they would likely purchase a smart home, but real estate agents need to know more about smart home tech than where devices are in the home to land the sale. Sales agents may need to point out different features associated with smart technology as well as how to use them.
First, always check with sellers to first ensure which technology will be staying in the home. Sometimes sellers want to take certain items with them. Include details about which devices are staying in the sales contract. Otherwise, you may promise something to the buyer that cannot come to fruition.
Real estate agents should also be knowledgeable about how smart home technology can reduce costs. For instance, how much money on a heating or cooling bill will a smart thermostat save? What savings are available for individuals who use a smart pool cleaner or filter? Buyers want these details up front.
Next time you host an open house, consider including cards with detailed information about the smart tech near each device. Professional cards with information allow clients to better understand the gadgets, and many will be impressed when you can show them how the devices work. Clients looking at a home may become frustrated if they cannot figure out how to use the technology.
Finally, consider pursuing additional real estate CE. Continuing education may involve receiving a smart home certification you can use to show buyers and sellers that you know exactly what you are talking about. Are you ready to learn more about smart home tech? Start your training today!