Roger Pettingell has been selling homes of all shapes and sizes in Florida for more than thirty years. He is Coldwell Banker’s number 1 Real Estate agent in the Sunshine State and one of the top five in the nation. Having seen many trends come and go during his time in the business, he offers insight into the next big thing in real estate.
A growing number of buyers are actively looking for “smart homes”; that is, homes with modern technology that boosts one’s quality of life, conserves energy, boosts home security, and more. A recent luxury home report by Pettingell’s employer Coldwell Banker found that more than 80% of agents said luxury home buyers are looking for smart homes. The technology they expect to find in their homes includes voice-activated locks and devices, smart security systems, electric car docking stations, and roofs that generate their own energy. At the same time, the trend isn’t limited to high-end homes. Another survey found that apartment tenants were willing to pay additional rent for apartments that incorporated smart technology. In fact, tenants preferred smart security-enhancing technology, and the ability to pay the rent electronically was more valued than traditionally coveted amenities such as a pool or covered parking.
Roger Pettingell points out that security-enhancing and power-saving features aren’t the only smart tech amenities homeowners will want in their homes in the near future. He notes that the growing use of smartphones had led many to expect homes that allow for all home functions to be controlled via an app. Homeowners in the future will want to be able to adjust the home temperature, turn lights and music on and off, open and lock doors, check on the arrival of an Amazon package, and more from a smartphone app. Furthermore, Pettingell notes, that buyers want smart technology that is not only user-friendly but also aesthetic. To this end, manufacturers are creating devices that blend in well with the home’s style of decor to ensure a smart home is not just technologically advanced but also pleasing to the eye.
Roger Pettingell has long put a premium on not only staying abreast of his trade but also learning about technology and how it impacts his work as a real estate agent. He has found that, in his area’s highly competitive real estate market, buyers are willing to trade certain desired amenities for those that are most important to them. Smart home technology is fast becoming the trend that will dominate the market for the foreseeable future, and it’s not hard to see why.
As Roger Pettingell reports, individuals have become increasingly reliant on high-tech devices and services, so it stands to reason that they would expect their homes to offer high-tech features to enable them to improve their quality of life without putting a strain on their budget. Smart homes are indeed the next big thing in real estate and real estate agents who want to be successful in their field would do well to follow Pettingell’s example and get to know the technology that will, in the future, be a defining feature in homes sold throughout the nation.