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Agent | Broker Reset Filters to Default Back to ListSmart Home Technology and Opportunities for Real Estate Agents
April 25 2023
Smart home technology has become an increasingly popular trend in recent years, and it is changing the way people live in their homes.
This technology has also had a significant impact on the real estate market, providing a wealth of opportunities for agents to differentiate themselves from their competition and provide added value to their clients.
In article, we'll be examining the impact that smart home technology has on the market, as well as potential opportunities for real estate agents — read on!
Increased demand
The increased demand for homes with these technologies is one of the biggest effects of smart home technology on the real estate market. Homeowners who are looking for ways to improve their quality of life will find smart home technology more appealing as it becomes more accessible and affordable. For instance, smart thermostats like Nest and ecobee enable homeowners to remotely control the temperature of their homes, change settings based on their schedule, and even gradually learn their preferred settings. In addition to lowering energy costs for homeowners, this technology also makes daily life more convenient.
Other smart home technologies, such as security systems, lighting, and entertainment systems are also in high demand in addition to smart thermostats. Due to the increased safety, convenience, and entertainment options these technologies offer, homeowners are seeking out homes with them.
Real estate agents who are able to recognize and market homes fitted with these technologies have a competitive advantage as a result of the rise in demand for smart homes. Agents can set themselves apart from other agents who are not emphasizing this aspect of the home by highlighting the smart home features of a property. Faster sales and higher commissions may follow from this.
Added value
The potential for agents to offer their clients additional value is another way that smart home technology is changing the real estate market. Agents can offer a higher level of service to their clients by enlightening them on the advantages of smart home technology and assisting them in spotting homes with these features. As a result, there may be an uptick in customer satisfaction and loyalty as well as recommendations for new customers.
An agent might, for instance, assist a client in finding a house equipped with a smart security system. The agent may also provide instruction on how to use the system and modify it to suit the client's requirements. This added level of service can be a major selling point for clients, who may be more likely to refer the agent to their friends and family.
Streamlined home processes
One final impact of smart home technology on the real estate market is the potential for agents to use this technology to streamline their own business operations. For instance, a variety of smart home gadgets, such as security cameras and smart locks, can be used to remotely monitor a property. These technologies allow real estate agents to keep an eye on their listings from a distance, ensuring that the property is safe and secure for prospective buyers.
Smart home technologies can also be used to make virtual tours of a house so that potential buyers can see it from a distance. By eliminating the need for open houses and physical showings, this can save agents time and money. Clients may find the convenience of being able to view a property from the comfort of their home appealing, making virtual tours another important selling point.
In conclusion, smart home technology has had a significant impact on the real estate market, providing opportunities for agents to differentiate themselves from their competition and provide added value to their clients. By focusing on smart home features when marketing properties, agents can increase their chances of making a sale and earn higher commissions. Additionally, by educating their clients on the benefits of smart home technology and helping them identify homes with these features, agents can provide a higher level of service and increase client satisfaction and loyalty. As smart home technology continues to evolve, it will be interesting to see how it further impacts the real estate market.
To view the original article, visit the Transactly blog.