The types of features that buyers look for in homes in the real estate industry are always changing and are influenced by current lifestyles and interests in society. Home automation is one of the latest trends that buyers desire in residential properties due to the convenience and functionality that it provides on a consistent basis. Here are some reasons why home automation is becoming the new real estate standard and how it has affected real estate agents.
Demand is Skyrocketing
As technology continues to become more advanced, more people are incorporating smart home features and gadgets into their homes due to the convenience that it offers. According to AMP Smart, at the beginning of 2019, 33.2 percent of U.S. households adopted home automation in some capacity. As more people begin to enjoy the advantages that smart home tools provide, it has caused demand to skyrocket. Residential properties that include smart home automation are often worth more and increase in value with each gadget that is installed. Convenience is a major selling point for buyers who are looking to live in a house that is easy to use and navigate each day.
Real estate agents who are selling homes on the market are often pushing smart homes harder than traditional properties because they’re easier to sell. According to Mashvisor, smart homes spend less time sitting on the market because buyers want to take advantage of the perks that they offer, such as added security and saving time, energy, and money. Bidding wars also occur over smart homes, which means buyers make higher offers and real estate agents earn a higher commission once the house sells.
Real estate agents can sell homes quicker if they include smart home automation, which is appealing to both sellers and agents because it means spending less time on open houses and finding buyers. Real estate agents are taking the necessary steps to learn the technology to ensure they can explain it to buyers, especially millennials, who are interested in owning a smart home. By explaining the tech features included, it can be easier to make a quick sale and show off the appeal of the property.
Home automation has begun to make an impact on the real estate industry and is changing the way that properties are valued and how easily or quickly they sell. By understanding how much the technology in demand among buyers, it can allow sellers to begin integrating the features and gadgets into their home before they’re ready to list it.