What to Know About Smart Home Technology: 10 Resources for REALTORS & Their Clients

Smart home technology is definitely here to stay. According to a recent report on consumer adoption of smart home technology, 79% said they own some type of smart home tech. Those that owned it said they would purchase more. Ninety-seven percent of consumers now know what smart devices are. This is up from 67% in 2015. Because of market awareness, there are several opportunities for you to discuss these devices with your clients. They may:

  • have interest in adding value to a home before selling it
  • be wondering if they should leave devices with the home
  • want to outfit their new home with devices
  • be curious about simply learning more

As more and more of these devices hit the market, consumers will ask you about the benefits and their needs. Below, we’ve compiled a list of resources for you to use to educate yourself and your clients on smart home technology.

Here are 10 resources that you can use in improving your understanding of smart home technology:

1. Smart Home Glossary and Smart Home/Internet of Things FAQ

The glossary and FAQ are good places to start. They give you all the terms that relate to smart home devices. From how these devices connect to what IoT is. It’s a compendium of the most asked questions we’ve received with respect to these devices. Help clients get ahead of the curve by sharing the links with them.

2. The Insecurity of Things: Understanding Security Issues Around the Internet of Things

Last fall, when the denial of service attack happened and most of the internet wouldn’t work, I wrote a 3-part series on the security issues around the internet of things. I looked at what you as a user of these devices can do to protect yourself as well as what manufacturers need to do to protect you. Security is paramount for these devices and this series gives some insights on what to do to make sure you understand the risks and how to mitigate them.

3. Smart Home Simplified 1-Pagers

Our Smart Home Simplified series of 1-pagers is meant to give you a high level overview of the different device classes in the smart home space. These 1-pagers are great tools for educating yourself, other agents, or consumers. You are able to share them with whomever you’d like. Add a link in your newsletter or other informational posts. Each sheet talks about the pros and cons of these devices, how they work and why consumers are interested in them. The 10 classes of devices we cover are:

  • Thermostats
  • Locks
  • Doorbells
  • Cameras
  • Indoor Air Quality Sensors
  • Lights
  • Hubs
  • Voice Activated Speakers
  • Water Leak Detectors
  • Smoke/CO Detectors

Each page will also provide you with a link to a resources page for that class of devices. Think we need to add another class of devices? Let us know.

4. CRT’s Smart Home Report

Last year, we did our first smart home report with our Research Group at NAR. This will be an ongoing annual report for the next few years. We are working to better understand your knowledge of the space and that of the consumer market. Use it to understand what devices are important to consumers and where there are opportunities to help support clients in their quest to understand this market.

5. Educate Yourself & Consumers on Incentives from Utilities & Insurance Companies

I recently wrote a piece on the value of understanding what rebates and incentives are being offered by your utilities and insurance companies. These incentives may or may not be known by your clients, but knowing about what is available in your area is of tremendous value to them. It also shows that you’re looking out for ways to improve their experience.

6. CRT Labs’ Things Thursday

On a semi-regular basis, we put together a round-up on the internet of things and talk about the implications for real estate. We look at the way in the future tech as well as stuff that you can take advantage of today. It’s a great list of links you can share with your team, other agents or clients.

7. CRT Labs’ Office Hours Every Friday

Our Facebook page is a great place to find resources. Every Friday, we hold Office Hours on emerging technology. They start at 3p Eastern and run for about 20 minutes. We love receiving questions and comments during the Office Hours so we can discuss with you and have active conversation on these topics. Like the page and be notified immediately of any live videos we are doing.

8. Smart Home Checklist App

Have you sold a home that had smart home devices in it already? If so, did you have those devices reset by the seller before transferring ownership? If not, the seller may still have access to the smart devices. To help with this problem, we created a web app called the Smart Home Checklist. This simple app will allow you to identify the devices in the home, aggregate them on a list and share that list with whomever you want.

9. Smart Home DB

The Smart Home DB is a great resource to find out more about specific devices. They have nearly 1,200 devices listed in this community-curated database. They also have user-generated plans for hooking up different devices and some how-tos. We are actually feeding the backend of our Smart Home Checklist from this repository.

10. IoT Podcast from Stacey Higginbotham

Stacey is an IoT industry expert and she has a great podcast on the topic of smart homes, smart cities and industrial IoT. She has vendors and industry experts talk about the market now and what’s coming.She’s even covered CRT’s work in the past on her podcast. Stacey’s expertise comes from years of covering technology for a number of news sites, including Fortune and GigaOm. Sign up for her newsletter and find out what’s coming next.

BONUS: This blog & CRT Labs

You might have noticed a lot of the resources I posted linked back to this blog. There’s a reason for that. CRT is one of the few resources thinking about the impact of emerging technology on your business. We talk to members about it, as well as speaking to industry experts, vendors, security groups, universities, government and research laboratories about you and your business. They see you as a valuable resource and are very interested in your feedback and work. So, use us as a resource. We do webinars, presentations and all sorts of educational outreach. Drop us a line if you’d like us to present to your group.

That’s it for this roundup. Are there any resources you’d like from us that aren’t listed above? Follow us on Twitterand Facebook and let us know.

Hurricane Preparedness

ready-virginiaHurricane Matthew has a potential for life-threatening rain, wind and storm surge. Those in potentially affected areas should be familiar with evacuation routes, have a communications plan, and prepare resources necessary to weather the storm.

Virginia REALTORS® are encouraging everyone in the potential path to be prepared. Learn more about resources from the Virginia Department of Emergency Management to prepare for tropical storms or hurricanes: http://bit.ly/2cT2Jpf

Preparedness Month

emergency-preparedness-month

In recognition of September as National Preparedness Month, Virginia REALTORS® are encouraging people to ready themselves by making plans for how to stay safe and communicate during an emergency. Preparedness Month reminds us all to collect supplies and make and share a plan for the protection of our families, homes, and communities. Since natural disasters and other emergencies can inhibit channels of communication, the first step to safety planning is to inform close contacts about the course of action in case of an emergency. Consider transportation routes and property safeguards, as well as the needs of elderly family members and pets. To assist Virginians with disaster preparedness, the Virginia Department of Emergency Management offers www.ReadyVirginia.gov  as resource that includes checklists of essential supplies, step-by-step guides for staying safe in emergency conditions, and instructions to stay informed of critical updates.

DEDUCTR – New VPAR REALTOR® Benefit Helps You Lower Your Taxes !

deductr logoVPAR is always looking for ways to help its members increase their bottom line.

We recently partnered with a company that has developed a product to help real estate professionals reduce their tax liability and put hundreds, even thousands, more commission dollars in their pockets.

70% of agents overpay their taxes each year and real estate professionals are 3 times more likely to be selected for a tax audit than W2 employees.

Our new partner, Deductr, is hosting a FREE informational webinar to give you a demonstration, important tax strategies, and little known tax deductions you can apply this year.  The webinar is less than 30 minutes. You select the day and time most convenient. There is no obligation to attend.

We’ve negotiated a 50% reduction in the price of the product for any member who chooses to try it for their real estate business.  They also offer a 100% satisfaction guarantee or a full refund.

Register Here, these webinars fill up quickly.

If text links do not work cut and paste this web address into your web browser:

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