Keller Williams Realty International’s Senior Technology Research Analyst Adi Pavlovic asks, “Are you smarter than your home?” At Mega Camp 2016, he presented trends in smart-home technology and encouraged real estate agents to stay current with them so they can better meet their clients’ needs.
“Real estate agents are the gatekeepers to the home purchase experience and I want to make you an expert on smart homes,” Pavlovic said to the audience.
Most people have heard about smart homes, but do they know what they mean to home buyers? To start, smart homes are defined as homes equipped with lighting, heating and electronic devices that can be controlled remotely by phone or by computer. This includes things such as remote window control, door locks, climate control, and even security and family management.
Here are the smart-home numbers Pavlovic wants you to know!
13 percent of homes with a broadband connection have at least one smart-home device.
25 percent of consumers are willing to adopt smart-home technology when moving into a new house.
43 percent of consumers are willing to adopt smart-home technology when making renovations or upgrades to the house.
Barriers to Smart-Home Adoption
Pavlovic explained the three most common barriers to homeowners adopting smart-home technology are cost, integration and privacy/security.
Cost – 37 percent of respondents indicated that high prices for smart-home technology was their top concern.
Integration – People want to have smart-home technologies integrated so they all speak a single language and are easy to use with a single device. “Unfortunately, multiple wireless protocols such as Thread, ZigBee, Z-Wave, Insteon, and many others make it difficult for devices to integrate and cooperation has been slow,” he said.
Privacy/Security - The No.1 concern for consumers is the fear that their personal information can be stolen from smart-home applications.
While this area is still developing, technology experts agree that there is great opportunity for homeowners interested in smart home technology. Aside from helping to simplify life, smart-home gadgets have the potential to increase homes’ value and make them more attractive to buyers who desire this technology.