The New Real Estate Upsell? Smart Homes

Many homebuyers see purchasing as a life upgrade, and a desire for futuristic features can make a smart-home listing stand out from the crowd.
Source: Fox Business (10/22/19) Moore, Cortney


NEW YORK – “Smart home and smart features are becoming more prevalent in homes these days,” says Julie Gans, an agent at Compass Real Estate. “These are highly sought-after functions. They make living so much easier in the fast-paced world we live in today.”

According to a 2016 Smart Homes & Realtors report conducted by the National Association of Realtors® Research Department, clients seek housing that implements smart home technology or is at least compatible with smart home devices:

  • 22% said they were interested in whole-home technology
  • 42% were in smart home gadgets
  • 13% in smart home tech for specific rooms only
  • 41% weren’t interested in a smart home at all

People who want a more futuristic home gravitate toward security, privacy, cost and energy savings to help step things up a notch. Popular devices that survey takers believed were important included locks, lights and thermostats.

Another interesting finding: Demand for a smart home isn’t driven by millennials and Gen Z, as the median age of respondents was 54.

A report from analyzed the website’s open listings in 2016 and found that builders and sellers are implementing smart home components to contemporary homes. The report found that the top three markets for finding a smart home are Phoenix, Dallas and New York.

Smart homes aren’t exclusive to single-family houses either, with property managers of luxury condos and apartment complexes also recognizing the value of integrating smart home technology, according to a report from Propmodo.

SOURCE: Fox Business (10/22/19) Moore, Cortney

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