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How Has Smart Home Technology Impacted Real Estate?

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Once a luxury only the wealthy could afford, smart homes and home automation have become available to the common man. What used to be a quirky industry is finally maturing into a full-blown consumer trend. More and of established tech organizations are launching new and innovative smart home products to consumers. The market for such products is estimated to grow to around $9.5 billion by 2015. By 2017, that number could rise to $44 billion. Much of the success of this technology could be attributed to smart phones and computer technology. Constant availability of Internet connections means one can configure myriad other electronic devices to one central command. It’s all about the Internet of Things. Any device in your home that uses electricity can be configured to follow your command through a central device like a smart phone or a computer. A command can be given by voice, remote control, tablet or a smart phone. Most applications relate to lighting, home security, home theatre and entertainment and thermostat regulation can be controlled by smart home technology. These days, home buyers look for certain features while choosing a home.  Smart home technology is one of the most popular features that have been catching on over the past several years and is very much in demand today. Smart home technology has had a huge impact on the real estate industry and have people lining up for homes empowered by smart home technologies.. Whenever you’re looking to buy or sell a home, it’s important you take into account how smart home technology has changed the real estate segment and also know which technologies are most popular amongst buyers.

Some startling facts about Smart Home Technology

One of the facts that which is most startling is that one in four Americans already own at least one smart home product, according to a joint survey between CNET and Coldwell Banker.

Some additional facts are

  • Almost half (47%) of millennial have a smart home product in their homes.
  • 76% of the smart home products are being controlled through smart phones.
  • 57% of Americans say that smart home technology products save them an average of 30 minutes per day.
  • 45% of Americans say that smart home products save them money at an average of $98.30 per month.
  • 91% of those who have smart home products would recommend a similar product to   others.
  • 81% of buyers indicate they’d prefer to buy a home if it was already fitted with a smart home product.

These are a few of the many statistics that were takeaways from the survey completed by CNET and Coldwell Banker and had some eye opening facts about smart home technology and its impact on the real estate industry.

 

Factors of how Smart Home Technology’s changed Real Estate

The real estate industry has adopted smart home technology in a big way over the past several years and continues to have a big impact on the industry.  Here are some of the ways smart home technology has changed the real estate industry over time.

Resale Values

Arguably, the biggest impact that smart home products have had on the real estate industry is the resale value of homes. Features and amenities of a home determine the market value of a home.  A home that has smart home technology products installed will have a higher value than a home that doesn’t have any.

Amount of Market Time

There are certainly factors that impact the amount of market time it takes for a home to sell, such as price, condition, features, and location.

A home that has smart home technology products typically will sell faster than a home that doesn’t have these products.  As mentioned above, 81% of home buyers would buy a home just because it already has smart home products installed.

Potential Buyers

Smart home technology also has the ability to attract a certain segment of buyers that are potentially interested in a smart home and many buyers are attracted to homes that have cutting edge technology.  Installing smart home products is a great way to improve the chances of attracting a potential home buyer. Since many of the smart home technology products save energy, it’s also one of the features which can attract potential buyers who are conscious about energy efficiency and the ecosystem.

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In The League Of Its Own? Transported Is Making Waves In The VR Property Marketing Segment

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Transported VR Real Estate

With the ease in which it could be played on most headsets, there is another player waiting in the wings in the property marketing segment.

Transported is a unique platform where the home tours could be created and customized in 3D.  The feasibility of the platform is such that it doesn’t take more than an hour to install it. It’s not browser specific and could run across various browsers and is also mobile optimized. Since VR technology is here to stay and is also one of the most engaging platforms, Transported has left no stone unturned with respect to optimizing its features. With Room Teleporting, no hardware upsell, crisp sound enhancements and easy website page embeds; it gives its customers the first-hand experience on the feel of their new home.

According to the company, Transported tours do not take much time to create, it can take as little as 24 minutes to make the scenario after finalizing the details. They can be built on any operating system ranging from Macs to PCs, and agents can showcase their tour collection of the room on their profile pages.

The potential customers can check the tours on VR instruments such as Google Cardboard, Oculus Rift, and the Samsung Gear VR. As far as non-immersive VR are concerned tours can be experienced on dedicated tour webpages and mobile devices.

Transported is an effective entry into VR home tour market segment. The software that it uses are very easy to operate and very interactive in nature. It does give sci-fi interface from the get-go, which allows its users to select distinct properties tour by “tapping” information cards in the headset display.

It’s an ideal feature that makes Transported such a good buy for static showrooms and retail offices and also offers various listings to the buyers.

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Aparna Construction Excels The Market With Its Digital Makeover

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Aparna Construction

A leading real estate developer from Hyderabad, Aparna Constructions & Estates started its operations in 1996. Since then it is known for completing and delivering 36 projects comprising of fully-integrated gated community villas, residential plot projects, premium apartments, commercial projects, spread across 18 million square feet.

Aparna Constructions started its new website as the focal point of its renewed digital strategy. Aparna Constructions has joined hands with Hyderabad’s leading digital marketing firm, GenY Medium. This revamping of brand’s web property has recorded at least twice the amount of organic traffic since then and a steeper spike in the number of digital enquiries.

Putting the customers first, has always been the thought and vision of Aparna Constructions, which has been kept well in alignment with this digital initiative. Nowadays, a website has a critical role in establishing the brand’s identity as well as generating leads, and this could be very fruitful in the real estate sector. As the website is a digital interface, which can become an important touch point with the consumers. An efficient use of the website can enable the organic customer acquisition in a way that it becomes a key channel for lead generation, hence GenY Medium’s holistic approach towards digital marketing, cements the core strengths in consumer understanding and technology.

Being a technology enabled digital marketing company, GenY Medium operates out of Delhi, Bangalore and Hyderabad. Since its inception in 2012, the company has grown into a 100+ people company and has created proprietary technologies that revolutionize digital marketing.

On their collaboration with the GenY Medium, Aparna Constructions elaborates on the need of a digital platform for its multiple projects in different cities and locations. This website provide the users with a wide range of choices, in a mobile friendly way, by providing each user with a personalized web experience.

A deep research exercise was conducted by the Aparna Constructions’ business teams and the GenY Medium’s team, to understand the unique consumers’ mind-set and adopting to the most suitable technology. With its ability to personalize content, supplemented with marketing automation tools, the Oracle platform along with its suite of products, turned out to be an optimum choice.

Aparna Constructions believes that with this kind of technological interventions, their website has set a high standard in real estate segment. Each user is provided with a customized web experience based on geographical mapping by the implementation of Oracle Maxymizer. The next step in line is the integration of an automation tools like Eloqua, which is perfect for lead nurturing through emails. Eventually resulting into a more immersive, personalized web experience. The effect of this new venture has already started happening as the mobile users are spending more time on the website.

Aparna Constructions aims to carry forward the momentum gained from the new website to all other aspects of digital platform, with an aim of reaching the right consumer and communicating in a personalized and engaging manner.

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Insomniacs Gives A New Approach To ‘Approach One’

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Insomniacs Give A New Approach To Approach One

The online media is known for wittiest lines and brilliant campaigns. The Approach One’s new campaign once again proves that agencies love this medium and they let their creative juices flow. The real estate lead management system and marketing software company introduced a quirky and refreshing campaign.

In tune with the company’s theme, a series of bright yellow creatives with bold white text definitely caught people’s attention on social and digital platforms. One copy read – ‘Mr. Garden nahi Mr. Gordon! Stop apologizing. Start improvising. Introducing new age lead management system’. It presses the nerves of the customer calling executives as well as the customers who never want to be addressed incorrectly, leave alone getting their name incorrect.

Approach One

The copy also includes old Bollywood songs and some cult dialogues which not only make you smile but drive the message home. Ads like ‘Tumhare haath mein pura CRM system ho…saari jannatein tumhare pass ho’ or ‘Data ne tumhe chaaron taraf se gher lia hai’.

The ads have been conceptualized by the awarding winning digital agency Insomniacs. Explaining the objective of the campaign, Montu Achoriwala, Creative Head at Insomniacs said, “The idea was to introduce people to this marketing software and inform them of everything that it can do; all the while keeping it fun and interesting. The software has been built by real estate industry experts and so the customers need to understand how their daily hassles can be nullified with Approach One”.

He added, “We convinced the client to take an adventurous step and do this campaign. Software marketing is a serious business with serious promotion but Approach One saw how this campaign would give them the desired attention”.

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