Smart homes keep getting smarter – Miami Herald

Long before the first home was listed online, people have been searching for the perfect home: one that’s comfortable, efficient and safe. As this high-tech world we live in continues to bring new advancements to the market, more and more home buyers are also searching for a home that is smart.

I had the opportunity to serve on a panel at the 2016 CES Conference in Las Vegas, where it was confirmed that smart-home technology is quickly becoming mainstream. In fact, it’s happening even faster than many predicted.

A recent study by Coldwell Banker Real Estate, the Smart Home Marketplace Survey, revealed that almost half of all Americans either own smart-home technology or plan to purchase it this year. The survey, which polled more than 4,000 adults, also showed that more than one in four people who do not currently have smart-home technology say they will incorporate it into their lives in 2016.

In the luxury market, smart home technology has become expected. However, as affordability, consumer demand and advances in technology continue to converge, new opportunities and market segments open.

It’s fascinating to see how rapidly people are adopting technology, and from all demographics. The typical smart-home consumer used to be young and affluent. Now, the technology is becoming much more accessible and desirable to people of all ages, with a broad spectrum of lifestyles and incomes.

As technology continues to advance, new devices with better capabilities continue to transform the way we run our homes. According to the Smart Home Marketplace Survey, the most popular type of smart-home technology is smart entertainment, such as smart TVs and speaker systems. Forty-four percent of people with smart-home technology own a smart entertainment product.

Lindsey Turrentine, editor-in-chief of CNET, recently stated that the next major step in smart-home technology will be the utilization of the hub platform to control multiple devices with seamless voice activation, making it easier to do much more than ever before.

It’s fascinating to see how rapidly people are adopting technology, and from all demographics. The typical smart-home consumer used to be young and affluent. Now, the technology is becoming much more accessible and desirable to people of all ages, with a broad spectrum of lifestyles and incomes.

The CES conference demonstrated that people are very excited about new developments in the smart home sector. However, it’s hard to define exactly what a smart home is these days, or predict what smart-home technology will look like in the next five years as this industry has moved faster than anyone could have expected. As Michael Smith from Lutron Electronics pointed out during our CES panel discussion, “The Jetsons are here. They’re your next-door neighbor.”

The reality is that the technological revolution in the housing sector is just beginning and smart homes are here to stay. And that’s a good thing as smart-home technology will greatly benefit both buyers and sellers.

Danny Hertzberg is a luxury real estate sales associate with Coldwell Banker Residential Real Estate’s The Jills® and is based in Miami Beach. Hertzberg completed a joint JD/MBA at the University of Miami. He can be reached at danny@thejills.com, www.dannyhertzberg.com

2016 is the year smart home technology will be mainstream

The year 2020 has long been a benchmark for when the smart home will finally be mainstream, but according to the results of the Smart Home Marketplace Survey from Coldwell Banker Real Estate, that time may come sooner than we originally thought. The survey polled more than 4,000 U.S. adults in advance of CES 2016, revealing that homeowners are willing to pay extra to “smart stage” their home as well as what Americans think when they hear “smart home.”

The smart home is going mainstream fast — and the technology is addicting.

• Almost half (45 percent) of all Americans either own smart home technology or plan to invest in it in 2016.

• Of people who do not currently have smart home technology, more than one in four (27 percent) say they will incorporate it into their lives in 2016.

• Of people who either have smart home technology or plan to buy it in 2016, more than one in three (36 percent) don’t consider themselves early adopters of technology.

• Seventy (70) percent of people with smart home technology said buying their first smart home product made them more likely to buy another one.

Smart home technology is no longer just for the young, affluent and educated.

• Older generations are adopting certain types of smart home technology faster than younger ones. For instance,

40 percent of those over 65 who own smart home products currently have smart temperature products, compared to only 25 percent of Millennials (ages 18 to 34).

• Americans with a household income of $50k to $75k and those with a household income of $75k to $100k are adopting smart home technology at nearly identical paces: 25 percent adoption for those in the $50k to $75k range and

26 percent adoption for those in the $75k to $100k cohort.

• The same is true for people with only some college education and people who graduated from college: 26 percent versus 27 percent.

Home buyers are most attracted to smart security and temperature.

• When asked about the types of pre-installed smart home technology that would be most appealing if they were buying a home, most Americans said smart security (58 percent) and temperature (56 percent).

This survey was conducted online within the United States between Oct. 22-26, 2015 by Harris Poll on behalf of the Coldwell Banker brand via its Quick Query omnibus product. The survey was conducted among 4,065 adults (ages 18 and over) among whom 1,009 own at least one smart home product.

Got a Broker’s View?

Realtors may submit columns for Broker’s View of 700 words to to rclarke@MiamiHerald.com. This feature is intended primarily for residential brokers, who will be given preference, but pieces about commercial real estate will also be accepted as space allows.

Comments

Write a Reply or Comment:

You must be logged in to post a comment.