I completely forgot to share this back in May, but the rise of smart home technology is continue to grow and surprise me with how awesome the products have become. The smart home technology space it completely new to consumers and the real estate industry. It’s important for everyone to be able to communicate about these amazing products on a consistent basis by a consistent definition. Coldwell Banker together with CNET worked on defining “The Smart Home” for all consumers to be informed. Below is a copy of the press release on the definition, you can read the entire release here. The new definition creates a clear designation for real estate agents, home buyers and home sellers!
Coldwell Banker’s Press Release on Smart Home Definition
Coldwell Banker Real Estate LLC , the original Silicon Valley real estate start-up founded in 1906, in collaboration with CNET, the world’s largest and most trusted online source of consumer technology news and reviews, announced today a joint definition of the term “smart home.” The definition is the first of its kind in the real estate industry and will help sales associates, as well as home buyers and sellers, accurately identify smart homes. The definition will provide a clear and unified designation designed to keep up with rapidly evolving technology in the home. Property listings that meet the definition of a smart home will be identified with an icon on coldwellbanker.com, allowing prospective home buyers to easily search for smart homes on coldwellbanker.com.
“With close to 5 million homes bought and sold in the U.S. each year, it is imperative that there are standardized guidelines for identifying smart homes on the market,” said Sean Blankenship, chief marketing officer of Coldwell Banker Real Estate LLC. “The new smart home definition will allow our network of independent sales associates to educate their home buyers and sellers regarding what defines a smart home and how the technology is making our lives more comfortable and convenient. We worked with CNET and tapped into the findings of their smart home testing facility in order to create a definition that is easy to understand and representative of the best smart home technology.”
As demand for smart homes steadily increases, a consistent and clear definition is crucial. The technology experts from CNET and the real estate professionals from Coldwell Banker Real Estate worked together to create a definition that captures the complexities of the rapidly evolving technology landscape and provides clarity for a mass audience. This definition is part of the Coldwell Banker Real Estate initiative to embrace smart home technology through an agent education program, a dedicated online search tool to help home buyers find smart homes, research with CNET and sponsorship of the Smart Home Marketplace at CES.
“Eighty-seven (87) percent of Americans acknowledge the value of smart home technology, but only one in four has this technology in their homes. The term ‘smart home’ can be intimidating and overwhelming. We want to make it easy for everyone to better understand what a smart home is, in order to simplify the process in helping them choose the right devices for their homes,” said Lindsey Turrentine, Editor-in-Chief of CNET.com. “Smart home technology today is fragmented, much like the PC industry 15 years ago. An official smart home definition for consumers and realtors will provide clarity and credibility to the term.”
The full smart home definition is below:
Smart home: A home that is equipped with network-connected products (aka “smart products,” connected via Wi-Fi, Bluetooth or similar protocols) for controlling, automating and optimizing functions such as temperature, lighting, security, safety or entertainment, either remotely by a phone, tablet, computer or a separate system within the home itself.
In order to be categorized as a smart home, the property must have a smart security feature that either controls access or monitors the property or a smart temperature feature, in addition to a reliable Internet connection. It must also include at least two additional features from this list:
- Lighting (smart light bulbs and lighting systems)
- Safety (smart fire / carbon monoxide detectors and nightlights)
- Entertainment (smart TVs and TV streaming services)
- Appliances (smart refrigerators and smart washer / dryers)
- Heating / Cooling (smart HVAC system, smart fans or vents)
- Outdoors (smart plant sensors and watering systems)
- Security (smart locks, smart alarm systems or cameras)
- Temperature (smart thermostats)
||Cable, satellite or DSL
Must Have At Least Three
*One of the categories must be security or temperature
||Smart light bulbs, lighting systems
||Smart fire / carbon monoxide detectors, nightlights
||Smart TVs, TV streaming service
||Smart refrigerators, smart washer / dryers
|Heating / Cooling
||Smart HVAC system, smart fans or vents
||Smart Plant sensors, smart watering systems
||Smart locks, networked security cameras