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:
- Indoor Air Quality Sensors
- 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 Twitter and Facebook and let us know.
As cities become more densely populated, getting around them takes on a new sense of urgency. One of the big reasons cities are interested in smart city technology is to help solve transportation problems. In this article, we’ll look at three technologies that help residents navigate their cities and identify what the value is to them and to the real estate practitioner.
Smart street lights help the city save money, energy and reduce light pollution
Cities like Chicago, LA, Barcelona, and Amsterdam are employing new lighting strategies to cut down on light pollution, reduce energy usage, and better serve their citizens. One company working on this problem, Tvilight, has developed a solution that will brighten when there are people around at night and dim when there aren’t. Tvilight has several deployments in large and small communities throughout Europe. Their lighting allows for city administrators to remotely set levels for lights, understand evening traffic patterns, and save energy. In some cases, these lights have helped reduce maintenance costs by up to 60% as well. For the real estate practitioner, communities using these lights could become a selling point. Reduced light pollution, yet retaining a safely lit environment is something that anyone would love.
Intelligent stop lights can help clear congestion and reduce accidents
In Sioux Falls, South Dakota, adaptive signal control technology is helping improve traffic flows and reduce accidents in the city. The smart stop lights have dropped traffic congestion by 5-11%. This means fewer idling cars, saving fuel and money for drivers. Another benefit is the technology has reduced the number of accidents. Because the technology can adapt, it means less of drivers trying to outrun a light change. Sioux Falls has seen a reduction in accidents from 1 accident every three days average to 1 accident every four days average. Over time, that adds up due to all the emergency services required during these times. This data can also help inform commute times and give you a real time sense of congestion, or if there are any accidents in the area, so you can adapt your route wherever you’re going.
Smart parking systems can let you know if there’s a space available anywhere
One of the biggest challenges to living in a large metropolitan area is finding parking. I live in a neighborhood that used to have plentiful street parking, but now, we can drive around for 15-30 minutes trying to find a space. Libelium is a company helping cities connect with citizens by providing real time parking space data. Using magnets, sensors and cameras, Libelium relays real time information about parking spaces in a community and can reduce the amount of time you are spending looking for a space. They could also provide historical information that can help city planners think about the parking issues in their city. This data will be extremely valuable in real estate for some time to come.
As you can see from the article, cities large and small are employing these techniques. Smart city technology is not an all or nothing proposition. You don’t need to have a myriad of smart solutions added right away. Communities are employing solutions to help them solve immediate problems, then adding to those solutions. Are you seeing solutions like these in your communities? Let us know in the comments below.
Detroit’s getting sensors provided by citizens. Read below about Sensors in a Shoebox.
- HomePod, Echo, Google Home: How secure are your speakers? (via C|NET)
There are a lot of questions around security and smart devices like the speakers. In fact, the audience at my presentation at the South Bay Association of REALTORS this past Monday were very concerned around security of smart speakers. This nice quick piece on the security of your data from Apple, Google and Amazon’s voice automation speakers. It seems like Apple has the advantage based on their encryption best practices. Even though they cost around $349, the HomePods secure your data the same way that Apple’s Messages and Siri applications do. Check it out and see if your security questions are answered.
- Toyota is exploring heart rate monitoring cars to help prevent accidents (via Wareable)
For me, these types of thoughts around smart technologies are very worthwhile. Nothing is imminent from Toyota, but they are exploring how to determine if a driver is incapacitated and what they can do to help them in case of emergency.
- Samsung challenges Google with Connect Home Wi-Fi mesh (via ReadWrite)
Mesh networking is becoming a big market and it’s being driven by IoT. Samsung joins Google, eero and several other companies in trying to scratch this itch. Follow the link to see what they are up to.
- Detroit Imagines a Citizen-Led Smart City (via CityLab)
This is the type of thing I love about smart city work. A community coming together to solve a problem. Detroit is a great innovation space due to its past economic downturn. The city is ripe for change and new ideas. Working with the University of Michigan, residents are deploying smart sensors. The project, called Sensors in a Shoebox, are providing a low-cost way for residents to understand their environment. Imagine if REALTORs could help deploy projects like this to improve quality of life. Pretty cool.
That’s all for Things Thursday this week. Have questions? Want us to cover something? Let us know. You can follow us on Twitter @crtlabs or Facebook
NOTE: At this year’s REALTOR® Legislative Meetings, I was talking about our work with Andrew Sims, CEO of Dayton Area Board of REALTORS®. I shared with him things we talk to REALTORS® about in our presentations, and at one point, he said, ‘That should be written down somewhere.’ I realized immediately he was right. So, I’ll start by doing that in this post.
When we speak at associations and brokerages, our standard presentation includes a lot of information about why REALTORS® should care about smart homes. The biggest reason is because other industries that touch the housing market are getting involved. Utilities and insurance companies are creating rebates and programs around smart home technology. Smart home devices will allow you to do things like:
- monitor and save energy
- keep your home secure
- prevent extensive damage to your property
Knowing what is available and who is offering it is a great information for you and your clients. We will include links to more information in this article.
I realized immediately smart devices would mean big things for how consumers use energy when I first saw the Nest Thermostat in 2012. These devices help consumers save 10-15% in energy costs. As I traveled and spoke, however, members weren’t too keen on its $249 price tag at that time. But around 2014, REALTORS® began sharing stories of rebates from utilities and energy savings for their clients. They were even sharing stories of how the thermostats were paying for themselves in a short amount of time. These programs have only grown.
ComEd, Chicago’s largest electric utility, is offering $100 rebates on certain smart thermostats. They’ve even extended rebates (amounts vary) toward the purchases of light bulbs, power strips and security cameras, and has a site dedicated to selling smart home devices with instant rebates included. Check with your local electric and gas companies to see what rebates they may be offering on these devices.
In the insurance industry, smart home devices are being offered as ways to reduce premiums and risk. Specific smart device types that can be up for discounts are:
- Water leak detectors
- Smoke/CO alarms
One such insurer is Liberty Mutual, an NAR REALTOR Benefits® partner. They are giving away a Nest Protect smoke and CO detector and up to 5% off of insurance premiums. You can find all the life safety and security products included in Liberty Mutual’s program by searching the Liberty Mutual site.
Another insurance company with an interesting offering is State Farm. They are working with camera company Canary to provide discounts on burglar alarm insurance.
Educate Yourself So You Can Educate Clients
These are just a few examples of smart home promotions you can find outside our industry and share with your clients. Companies like Nest and Ecobee have rebates and rewards websites you can use to check and see what’s offered in your area. This is very fertile ground and there are a lot of opportunities for you to connect with your clients by educating them on these discounts and programs. Search your local area for opportunities for clients and make sure they know what’s out there.
Security cameras are ubiquitous. Are the intended audiences the only ones observing through these? Check out the post below from Cujo.
In this Things Thursday, we look at security for now and for the future, and how technology will impact the aging population.
- Watch a video of how a camera gets hacked (via Cujo)
The link above comes from an internet firewall vendor, but it’s relevant to security and what’s happening with the internet of things. Because of the rush to scale security systems years ago, there are tons of systems that are susceptible to programs like Mirai. Watch the video to see how easy it can be to hack a camera. As the post says, only buy cameras from companies that are adhering to security practices. One example for you to look at is Canary.
- How will IoT change the lives of our aging population? (via ReadWrite)
At CRT, we’ve been discussing this exact use case since we started the labs. What will the internet of things mean for accessibility for the aging and disabled populations? K4Communications is working on this problem, as they believe there is value in smart building tech beyond the flashy. We agree. We will be watching the work of this company.
- Thinking of using voice authentication? Think again! (via Embedded)
Voice as a tool for authentication holds promise. There are challenges to it, however. Enter Lyrebird…a software platform intended to synthesize any voice and change intonation to make it sound more natural. The article looks at a biometric company called TrulySecure and the challenges around using voice for authentication. It’s definitely a good read.
That’s all for Things Thursday this week. Have questions? Want us to cover something? Let us know. You can follow us on Twitter @crtlabs or Facebook