Technology has made the process of home buying and selling simpler, smarter and faster. As smart home and virtual reality (VR) technology continues to become more mainstream and sought after, consumers are now expecting high-tech experiences before even stepping foot in a prospective listing.
A new survey from Coldwell Banker Real Estate LLC, conducted online by Harris Poll among over 3,000 U.S. adults, suggests VR is poised to become the next big thing in real estate. Americans appear to be ready to embrace VR as a resource to visualize what is normally left to the home buyer's imagination. In fact, the desire for VR house tours is almost on par with traditional video tours. For those considering a home purchase in the future, 84 percent of respondents would like to see video footage, while 77 percent would like the ability to be able to take VR house tours before actually visiting prospective homes.
Furthermore, the survey found that if they were considering purchasing a new home in the future:
VR is just the beginning when it comes to being smart about technology and real estate. If there's anything the past few years have proven, it's that smart home technology is here to stay. The Coldwell Banker survey also asked consumers about their smart home preferences, with the following key takeaways:
"Our consumer findings underscore the need for industry-wide smart home education for real estate sales agents," said Charlie Young, president and CEO of Coldwell Banker Real Estate LLC. "As the smart home leader in real estate, Coldwell Banker is at the forefront of this trend. We were the first to offer a smart home certification and definition of a smart home which positions our network of brokers and agents to deliver a competitive advantage for their customers in an ever-changing market."
It's up to real estate professionals to counsel sellers on how to make their listings stand out by having pre-installed smart home technology in their home and provide insight on smart home technology's value to prospective buyers.