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Home Buying Goes High-tech

home-barcodeVirtual reality (VR) and smart technology are here to stay, when it comes to buying or selling a home according to the Coldwell Banker Real Estate Smart Home Marketplace Survey, published by real estate brokerage firm Coldwell Banker.

According to the online survey conducted by Harris Poll among 3,000 adults across the U.S., VR is poised to become the next big revolution in real estate with 77 percent of the respondents saying that they would like to take a VR house tour before actually visiting a prospective home. In fact, the desire for VR tours is almost on par with traditional video tours, with 84 percent agreeing that they would like to be able to see video footage of prospective homes before visiting.

One of the uses for a virtual tour for 68 percent of homebuyers was being able to see how their current furniture would fit into a prospective home. And that’s not all. Even when it came to choosing a real estate sales associate, 62 percent said they would prefer someone who offered virtual house tour capabilities that could be available on computer and smartphone, as a service for their clients.

If buyers are keen on virtual tours, sellers would like to get suggestions from their real estate agents on staging their homes with smart home products and technology to help them increase the value for their homes. Around 42 percent sellers agreed that they would look to their real estate agent to provide them with information about how smart technology or products could impact the sale of their homes while 32 percent agreed they would look to their real estate agent to provide them with information about smart home technology and how it would add value for buyers.

Speaking of technology, smart thermostats were the most wanted piece of tech for buyers with 77 percent saying they would want smart thermostats pre-installed in a home, followed by 75 percent saying they would like smart fire detectors pre-installed. Smart carbon monoxide detectors, smart camera, smart lock and smart lighting systems were some other gadgets that buyers would like pre-installed in a prospective home.

About Author: Radhika Ojha

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Radhika Ojha, Online Editor at the Five Star Institute, is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Dallas, Texas. She can be reached at [email protected]

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