TAKE ADVANTAGE OF CHANGE

Change is still the only constant in our lives and now it’s hitting closer to home. Most of the new cars have a wide variety of technology, from automatic braking to driving that steers itself between lines on a highway. I, for one, am still having trouble figuring how all that “stuff” works in my car. At this point, at least in cars, all that technology is nice but not necessary.

What will impact most of us is the coming of the “Smart Home”. The National Association of Realtors just published a statistic stating that 46% of consumers want their current or next home to have smart home technology.

In a recent documented case, the buyers spent under $1500 on smart home technology and sold their home in record time and at a record price for the neighborhood.

The National Association of Realtors managing director of the Center of Realtor Technology projects that a $1,500 smart home investment could return a 5% increase in sales price. (On a $300,000 home that 5% is $15,000.) At a cost of $1500 the return is $13,500 plus a faster sale.

I see this as a great opportunity in a variety of different ways. First, there are very few people that are packaging smart technology even though most home owners can afford it. The additional security benefits of this technology will be one of the main driving forces in its growth.

Right behind security is the number of consumers that want this technology because it can help them cut energy costs.

The options in smart home technology are just beginning. I predict that there will be a lot of new business startups or additions to existing businesses that will cash in on this trend.

Remember, you want to lead change, not follow it. Take a few minutes and Google Smart Home technologies and see how you can incorporate it in your business. I just received a gift, Virtual Realty glasses, which I think I can eventually use in my consulting business. 

No, you are not the only one that knows about this coming change, but you could become a pioneer in adapting it to your business.