Real estate agents are always looking for that next big thing that will help them buy and sell houses. Recently, the trend has been to suggest that homeowners planning to sell should consider investing in home automation technology as a means of attracting a larger number of potential buyers. But is that advice wise, or is it just another marketing tactic?
Evidence suggests that the real estate industry may be onto something. According to a survey commissioned by Coldwell Banker Real Estate, about half of U.S. homeowners either already have some home automation equipment in their homes or are planning to add it in the near future. Some 70% said that purchasing one piece of equipment made it much more likely that they would buy more.
There is little argument that the home automation market is expanding at a very robust rate. From specialist retailers like Uxari to big-box operations such as Amazon, it seems that everyone has home automation devices for sale.
With all that being said, here are three reasons a smart home may be more marketable:
1. First-Time Buyers Tend to Be Younger
One of the stark realities of the real estate business is that first-time buyers are likely to be younger people. Even those looking to take the next step up the property ladder are likely to be no older than middle-aged. What does this have to do with home automation? Young people are all about technology.
The current generation of young adults was raised on home computers, video game systems, and smartphones. Technology is as natural to them as paper and pen were to their parents. They now expect technology to be part of nearly everything they do. That means they are more likely to prefer a smart home over one that is not smart.
2. Smart Homes Are More Efficient
Common sense dictates that smart homes are more efficient because they make better use of energy consuming devices like lighting, heating and air-conditioning, and appliances. The new generation of home buyers considers this very important in the era of renewable energy and sustainability.
Presenting a home buyer with the choice between a modern smart home and an outdated home from the 1950s will almost always result in the buyer choosing the former. They know the 1950s home is likely to be more expensive in the long run because it is less energy-efficient.
3. Home Automation Provides Greater Control
One of the results of so much technology is that it has given the individual consumer more control over a lot more things. The best way to describe the phenomenon is in one simple phrase: there is an app for that. The universe of apps is now so vast that you can use your smartphone to see a doctor, file an insurance claim, and even lock your car doors remotely if you leave town and forget to lock them.
The smart home is one that can be accessed and controlled remotely with an easy-to-use app. Consumers in the digital age love that sort of thing. So whether a homeowner purchases a system from Uxari or creates a mix-and-match system by shopping from Amazon, the result is the same: more power and control over the home at all times.
It could be that recommending smart home technology is just another marketing angle being used by real estate agents. But common sense and observation dictate that it is more than that. Adding home automation equipment to an existing home makes it more desirable for buyers. It is as simple as that.