How well do homes equipped with smart features sell?

Ismiled as I awoke this morning to a message from my college student 1,000 miles away at the University of Alabama displayed on the screen of my refrigerator.

As smart- home technology becomes increasingly integrated into our everyday lives, it is quickly becoming the new reality and the standard and expectation of home buyers. Recent studies suggest that 44 percent of buyers surveyed expect smart- home technology to already be installed in the homes they preview. Eighty- one percent of buyers said they are more likely to purchase a home with smart- home technology.

You may ask what exactly is considered a smart home? While there is no official definition, to make things easier on our clients, Coldwell Banker teamed up with CNET to develop a standard for our listings to be advertised as smart homes. To be considered a smart home, the home must be equipped with products or tools that aid in controlling functions such as temperature, lighting, security, safety and entertainment either remotely via phone, tablet or computer or with a separate automated system within the home itself.

The term smart home was coined in 1984 but because of high costs associated with the technology, it was not widely used. Many smart home items have existed for years such as light dimmers, sprinkler systems and security systems.

Today we can program our lights to not only save money on electricity but also make our homes safer by making it look like you are home when you are away. Thermostats can be programmed to learn your behaviors, which helps with lower air conditioning and heating costs.

Using a virtual key, we can remotely lock and unlock our doors from miles away with the tap of our phone screens. Utilizing a video doorbell allows you to see who is at your door without getting up from the couch.

Implementing smart- home technology not only results in energy savings and added security, but also makes for faster home sales and added value.