5 ways smart-home tech affects real estate transactions

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04/24/2017 | Author: Editorial Staff

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.

Categories: Business tips, Buyers, Sellers
Tags: tech tips, smart technology for homes

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Legal disclaimer

The material provided here is for informational purposes only and is not intended and should not be considered as legal advice for your particular matter. You should contact your attorney to obtain advice with respect to any particular issue or problem. Applicability of the legal principles discussed in this material may differ substantially in individual situations.

While the Texas Association of REALTORS® has used reasonable efforts in collecting and preparing materials included here, due to the rapidly changing nature of the real estate marketplace and the law, and our reliance on information provided by outside sources, the Texas Association of REALTORS® makes no representation, warranty, or guarantee of the accuracy or reliability of any information provided here or elsewhere on texasrealestate.com. Any legal or other information found here, on texasrealestate.com, or at other sites to which we link, should be verified before it is relied upon.

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