Technology has infiltrated our homes, literally. With the constant innovation in technologies, somewhere along the line, we moved towards smart homes. These technologies have now become so common that even customers with low income can afford them. There are several instances of technology in real estate.
The proliferation of these new technologies and their newfound accessibility have changed customer preferences and mindsets. It makes sense that these technological changes will impact the real estate industry as well.
Technology in Real Estate: Smart Homes
With 47% of Millenials having a minimum of at least 1 smart device in their home, and more than 100 million smart home units shipped to the US in 2020, it’s common that smart amenities are becoming a common requirement. During the pandemic and the lockdown, the number of smart devices has increased significantly. Over 71% of all American homes had to build a remote workplace in their homes, thus requiring smart devices.
As the pandemic continues to spread, consumers are making smart homes a part of their lives. This includes devices for internet access, work from environments, and smart connected devices. Over the next few years, smart home devices will be present in every device.
How Real Estate Agents Can Take Advantage of Smart Homes?
If you’re a real estate agent trying to increase revenues, you should take note of this growing trend of smart homes. Customers that are looking to buy a home need to have all the smart amenities. As a real estate agent, you should invest a little bit by yourself to convert non-smart homes into smart homes.
You may need to put down some of your money, or you can get a loan. But if the industry trend suggests anything, it suggests that smart homes are the way for extra revenue. If you want to get the best return on your investment, then you should get started in investing money in homes you’re about to sell.
We’ve mentioned some of the best rest estate technology that can make any home a smart home. Some tools are simply high-tech improvements to existing customers, others are basic smart devices needed for day-to-day activities. Take a look at our list of best real-estate technologies and decide which ones you should be investing in to make more money.
List of Best Real Estate Technology
1. Energy-Star Appliances
While there’s little to nothing to know about energy-star appliances that can be connected to the internet of things, customers have started to love energy-star appliances over time. The reason behind that is simple, they help in saving money on utility bills. Plus, they help in making your home look more aesthetically pleasing.
Some of the most common energy-star appliances that you may want to consider installing:
- Washers and Dryers
- Air-Source Heat Pumps
- Smart Thermostats
Smart thermostats are some of the most common smart devices available in homes. They regulate the temperature of your home based on the time of the day, thus making sure that customers can save money on energy consumption. While energy-star certified appliances are a bit more expensive than other devices, they’re known as an investment that pays off over time.
2. Smart Security Systems
In the old days, installing a security system in a home was expensive and challenging. Customers would have to pay huge amounts to the technicians to come to their homes and install security systems. That was a reason why most customers couldn’t afford to get a security service for their homes.
Today, installing a security system is a task that takes up just a few minutes of your time. Get a smart doorbell, screw it into your doorframe, and then you have to link it to your smartphone. The smart doorbell provides you with a complete live stream of all the activities happening outside your home.
If you want, you can increase the level of security by combining these doorbells with the cameras around your home. These systems record all the activity, making it easy for you to share the information with the necessary authorities.
Most of the smart security systems also have IoT capabilities, thus allowing them to be paired with other smart devices in your home. You can control your whole home with a smartphone. Smart security systems are an incredible item that has revolutionized homes.
3. Multi-Function Hubs
Multi-functionality devices are also becoming incredibly common in the industry. Some common multi-function devices include:
- Amazon Alexa
- Google Home
- Google Nest
- Amazon Echo
- Hubitat Elevation
In addition to controlling other IoT devices of your home, these hubs can perform multiple functions that other IoT devices cannot. By using these hubs, you can do online shopping, conduct Google searches, play music, and do so much more.
Final Take: Best Technology in Real-Estate
If you’re going to make a smart home, then you need to have at least one of these devices In your home. As a real estate agent, you can boost your revenue by making sure that your homes are not ordinary residential places. These upgrades to the home can require significant investment, based on how many devices you want to install. Real estate agents need to get on this trend of smart homes as customers are willing to pay more for these amenities.