5 ways smart-home tech affects real estate transactions

 In Business tips, Buyers, Sellers

Home automation and internet-connected gadgets are trending. Consider these aspects of smart-home technology when working with clients.

  1. Gadgets may not convey. A seller may want to take smart light bulbs, surveillance cameras, irrigation monitors, or other components to his next home. Specify in the contract what conveys, so that neither party is surprised.
  2. An “unintelligent” home shouldn’t dissuade buyers. A buyer shouldn’t discount a home without smart-tech if it meets his other criteria. Smart-home devices can be installed, even in older homes.
  3. Some gadgets may trigger disclosures. For example, a monitor could detect basement moisture that the homeowner wouldn’t have otherwise known about.
  4. Savings vary. Just because the existing homeowners cut their energy bill with a smart thermostat doesn’t mean a new owner will enjoy the same savings. As with traditional energy management, costs depend on the user’s preferences and settings.
  5. The data may be a selling point. Smart tech provides data that may appeal to buyers. Knowing how owners saved money or made their lives more convenient could show prospective buyers a home’s benefits. However, sharing some data poses security concerns, such as showing the pattern of when no one is at home.

This article was first published in the April 2017 issue of Texas REALTOR® magazine.

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