Blog

3 Tips for Realtors Selling Smart Homes

07 Mar, 2018

Imagine a home that identifies family members using biometrics like heartbeat, body temperature and fingerprint to customize lighting, temperature, and music preferences. It seems like science fiction, but as it turns out these features could be right around the corner.

Great strides have already been made in smart home technology, although most systems rely on a tablet or control panel to function. The eventual goal is to remove the user experience (buttons, tablets, remote controls) and make the smart home experience nearly invisible.

Selling Smart Homes

Let’s flash back to December 2017. Smart homes are already on the market and selling. Smart security systems are locking and unlocking doors without need for keys. Energy monitoring devices are giving owners real time data on their energy consumption, which translates to real time savings. Smart thermostats are cooling and heating the rooms people are in as opposed to the entire home.

If these devices haven’t already, they’re coming to a market near you soon. And for good reason. Around 75 percent of millennials are willing to pay up to $1,500 extra for homes with smart features.

As a real estate agent, you must:

Be aware of issues related to smart home technology

It is very important you are aware of, and clearly state to the prospective buyer, what smart home gadgets are going to stay with the home after it is sold. The contract must specify exactly which items are staying and which are going

Help buyers see the advantages of smart home technology

Effectively showcasing smart home features can lead to a higher sale price and a faster sale. Have the seller clearly mark each smart home device in the home and explain how it works and what its advantages are. Work smart home devices into your staging plans so that the prospective buyer can see how it would simplify their lives. Some sellers even develop guides to their smart home devices so buyers are excited rather than overwhelmed.

And don’t forget about the data! Smart home devices run on data collection, so put it to good use! There’s no need to take the seller’s word for it. For example, smart thermostats reduce heating costs an average of 10 to 15 percent. If the seller says the smart thermostat saved them an average of $15 dollars a month during the winter, generate a report from the device and show the prospective buyer.

Alleviate prospective buyers’ security and privacy concerns  

A more connected world is a more convenient world, but it’s also a world more prone to hacks, infiltration and data breaches. As a real estate agent, you must be able to calm any concerns the buyer might have about smart devices’ impact on security and privacy. Changing ownership of smart home devices means removing old accounts and setting new accounts up. To maximize buyers’ and sellers’ security—and to ensure you have all your bases covered, complete this Smart Home Checklist prior to closing.

About Velocity Title

Velocity Title supports realtors with a comprehensive line of technology-driven title services that add value to each and every transaction. To learn more about how we can serve you and your clients, visit our homepage or contact us today!

ENTER YOUR EMAIL TO Download This Have Millennials Met Their Match? Why Boomers are Winning in Home Buying

[contact-form-7 404 "Not Found"]