Turn Smart Homes into a Real Estate Goldmine

As homes become smarter, so can you.

By 2020, the global home automation market will be worth over $121.73 billion.1 The reality is, technology is here to stay. But as homes get smarter with time, so can you.

Smart homes present new opportunities and an expansion of services potentially offered to your clients. Home automation can make everyday life more convenient for the occupants, and let’s face it, more lavish and desirable, too.

In fact, 42% of clients surveyed in the National Association of REALTORS 2016 Report expressed interest in smart home devices.2 That’s almost half of your target clientele.

But new, fancy devices and elaborate automation come with a learning curve. Not just for your clients, but for you as well. Before your clients get settled into their high-tech, trendy home, they’ll first need someone to sell it to them.

That’s where you come in.

How you portray a home can impact your client’s ultimate decision. So, here are some tips for turning smart homes into your very own real estate goldmine.

Learn the Lingo

There are a few key terms for this technology movement, and understanding these will allow you to better explain the devices and systems to your clients. Verse yourself in the meanings of words such as the Internet of Things, home automation, ZigBee, and AirPlay. Refer to this glossary guide for an inclusive list of terms and definitions.

See What’s Out There

From increasing home efficiency to providing advanced security, there are hundreds of devices out there. Knowing what’s in the market and being able to explain how the devices work will give your clients awareness of the gadgets they have at their disposal. Plus, there are often compatible devices for currently installed systems. Making your clients aware of further advancements will help them see the full potential of their future home.

Know How to Operate

Before the showing, do some research on how to seamlessly operate the system. If you know about the system beforehand, you can do some research online to learn how to effectively run the devices. There are various step-by-step guides or tutorials on the internet that’ll help guide you as you learn.

Showcase the Features

During the showing, work your magic. Display how the devices work, and then give your clients a try. Allowing them to get a feel for how the technology performs will help them envision how it’ll incorporate into their everyday lives.

Highlight the Benefits

Your clients may already be daydreaming about the convenience and ease-of-life a smart home can offer, but play into those emotions and help them see what makes it stand out. As you’re showcasing the devices, explain the benefits.

For example, say you’re showing a home that has a Nest thermostat and a Nest security cam. You should explain that the Nest thermostat adapts to their desired temperature and will program itself to change with the seasons and their preferences depending on the time of day; while the security cam offers advanced safety with intruder alerts and clear, 24/7 footage.3

These two devices offer ease-of-use, convenience, and security, and they also communicate and work together to provide tailored service. The products will sense when your clients left for work, and the thermostat will set itself to eco mode, saving energy and, as a result, money on their next bill. Explaining what makes these devices so special will help your clients see the benefits of owning a smart home.

Have you sold a smart home? What challenges did you face and how did you overcome them? Share your insights in the comments!

This article is for informational purposes only.

CITATIONS

1“Global Home Automation Market is Expected to Reach USD 21.67 billion in 2020.” Nasdaq, GlobeNewswire. Transparency Market Research. 16 Jan. 2016. Web 14 July 2017.

2“Smart Homes and REALTORS.” National Association of REALTORS. National Association of REALTORS. 30 Nov. 2016. Web. 17 July 2017.

3“Learn how Nest products work together.” Nest. Nest. N.d. Web. 17 July 2017.

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