While once only reserved for lofty dreams of aspiring to live like the ‘The Jetsons,’ the smart home is finally going mainstream.
In a time when cell phones can speak, cars can drive themselves, and 3D printing is no longer a thing of the future, it should come as no surprise that many homeowners have embraced the concept of smart home technology. The quest for home automation has transformed not only the way we live in our homes, but also determining homebuyers’ expectations, not to mention the way we buy and sell real estate.
Coldwell Banker® recently joined forces with CNET, the world’s largest and most trusted online source of consumer technology news and reviews, to conduct joint research that provided a comprehensive study of the smart home landscape. As part of that partnership, Coldwell Banker created a branded content page on the media site and served as the exclusive real estate sponsor of the CNET Smart Home in Louisville, KY. Further solidifying its role as the leading real estate expert in smart home technology, Coldwell Banker was additionally the official co-sponsor of the Smart Home Marketplace at the internationally renowned electronics and technology trade show, CES 2016 that took place in Las Vegas last month. This marked the first time that a real estate company sponsored the Marketplace, which has nearly doubled in size since 2015.
In advance of CES 2016, Coldwell Banker released the results of its Smart Home Marketplace Survey, which polled 4,000 U.S. adults and found that almost half (45%) of all Americans either own smart home technology or plan to invest in it in 2016. The survey also showed that of the people who do not currently have smart home technology, more than one in four (27%) say they will incorporate it into their lives in 2016. A whopping 70% of people with smart home technology said that buying their first smart home product made them more likely to buy another one, proving that buying smart home products is in one word, addicting. Which begs the question, can smart home technology help sell your home faster? More than half of homeowners thought so, as 54% responded by saying they would purchase or install smart home products if they were selling their homes and knew that by doing so it would make it sell faster. Of that group, 65% would pay $1,500 or more and 44% would pay $3,000 or more to make their home smart. That 65% increased to 72% when surveying Millennial homeowners. With data like this, it’s clear the home of the future is no longer a thing of the past.
Click here for the full survey results.
Through its premier partnerships with CNET and CES, Coldwell Banker continues to prove its position as an innovative real estate powerhouse by evaluating the latest technology trends influencing the real estate market.
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