Smart Home Staging
A recent Caldwell Banker survey found that:
Roughly half of millennials and 42-percent of U.S. broadband households surveyed would "smart stage" their home to attract buyers. The survey also found that more than 1/3 of Americans now associate smart home technology with a move-in ready home - something that 71-percent of Americans would want if buying a house today.
Whether you believe this research is statistically relevant or methodologically sound, the trend is clearly there. Coldwell has anecdotal evidence from 85,000 agents in 3,000 offices that “the smart home world is leaving the luxury-only sector and entering into the more mainstream world,” Coldwell VP and spokesperson David Siroty told CE Pro. “We’re in the home. We see what’s happening every single day.”
As a realtor, this is anecdotal evidence you can sink your teeth into.
“We found out a segment of society was way ahead of our agents,” Siroty says. “If our agents are selling homes featuring smarthome technology, we need to become more aware … know what questions are coming from clients.”
“Smarthome technology is catching on because it is literally changing the way we live in our homes,” said Sean Blankenship, chief marketing officer for Coldwell Banker Real Estate LLC. “Not only is it shifting the financial perception of the home, but it’s also transforming our emotional connection to our homes. We have entered a transformative era. We believe that in three to five years, home buyers will expect smart home technology—it will become the new norm.”
Blankenship pointed to the fact that of those surveyed currently using smart home technology, 81 percent said they would be more likely to buy a home if smart technology, such as connected lighting, thermostats, remote-access security and smart locks, was already installed. For Americans who currently don’t own smart home products, this provides an opportunity to make the move and adopt the technology. The trend will only grow as millennials start to represent a larger share of homeowners.
According to the survey, Americans are adopting and strongly valuing smarthome technology. In fact, 91-percent of those who currently own smarthome products would recommend the technology. Other findings include:
- 87-percent say the technology makes their lives easier.
- More than half (57-percent) of Americans who own smarthome products say the technology saves them time and at an average of almost 30 minutes per day.
- The technology is saving owners of smarthome products money. 45-percent of Americans say that, on average, their smarthome technology saves them over $1,100 a year.
- 72 percent say smarthome products provide them with peace of mind when it comes to home security.
- Parents with children under age 18 are almost twice as likely to have smart home products (42-percent of those with children vs. 23-percent of those with no children).
Parents were also more likely to have made their home “smart” when they moved in (68-percent of those with children vs. 50-percent of those with no children).
Security is top of mind for those with kids. 78-percent of parents say smarthome products provide peace of mind, while only 68-percent of those without children agreed with the statement.
Among all respondents, 59-percent of parents said they would be willing to pay more for a home with smarthome technology installed. This is significantly higher than the 47-percent of those without children.
Other key survey findings:
- The smartphone is the remote control for your smart home. 76-percent of those with smart home products control them with a mobile device.
- The living room is the “smartest.” When asked which rooms benefit from smarthome technology, over half (51-percent) cited the living room, followed by the bedroom (45-percent), family/rec room (35-percent), kitchen (30-percent) and dining room (21-percent).
- Cost and savings are key to smarthome purchasing decisions. Of those who do not have smarthome products, 44-percent said they would consider purchasing the technology if it cost less, while 42-percent said they would consider purchasing if it would save them at least $500 yearly on utility bills and household expenses.
“Today’s buyers are expecting smarthome technology. It’s no longer just an add-in,” said Danny Hertzberg, sales associate affiliated with Coldwell Banker Residential Real Estate in Miami, Fla. “I’m seeing firsthand how homebuyers are requesting and favoring homes with smart features, such as automated lighting and temperature control. Smarthome technology is also influencing the home selling process. In addition to de-cluttering a home, sellers are upgrading to smarthome technology to attract modern buyers. Consumers are truly seeing the convenience and benefits of these products, understanding how smarthome technology makes the home more comfortable, convenient and energy-efficient.”
This is one of the first in-depth surveys performed and presented by CE Pro. Refresh Smart Home would like to offer our knowledge in helping you improve the value of your clients' homes. Please feel free to contact us at firstname.lastname@example.org or 914-670-8080 if you have any questions about smart home technology. Thank you.