44 Percent of Americans Who Want Move-In Ready Say Smart Home Technology is a Must

MADISON, N.J., Aug. 10, 2016 /PRNewswire/ -- Out with the old and in with the high-tech. A new survey from Coldwell Banker Real Estate LLC and Parks Associates found that Americans are thinking differently about "move-in ready" homes; they now want it to be "smart ready" too.

According to the survey of 1,250 U.S. adults who have broadband Internet access at home, 71 percent of Americans want a move-in ready home.  But the poll uncovered an interesting twist. Of the respondents who opted for a move-in ready home, 44 percent said that smart home technology should already be installed. Another 57 percent would consider an older home updated if it had smart home technology.

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QUOTES:

"We have entered a realm where home buyers are demanding smart homes. This is a shift from the previous thinking about what constitutes a move-in ready home. It's a defining moment for real estate."   

• Sean Blankenship, chief marketing officer for Coldwell Banker Real Estate LLC

"At the beginning of my real estate career, home buyers were willing to purchase fixer-uppers that needed tender love and care. But over the years, there has been a clear shift toward move-in ready homes that don't require any updates or renovations. Most recently I've seen that the term move-in ready is evolving still to include the convenience and comfort that smart home technology provides."

• Angel Piontek, sales associate affiliated with Coldwell Banker Elite in Fredericksburg, Va.

Additional Findings:

Of the 71% Who Want "Move-In" Ready:

• 44 percent agree that a move-in ready home has smart home technology installed
• 45 percent agree that a move-in ready home is new construction
• 74 percent agree that a move-in ready home has new appliances
• 83 percent agree that a move-in ready home has updated kitchen and bathrooms
• 85 percent agree that a move-in ready home has updated heating/cooling

So Who Wants to Buy a Smart Home?

Below is the demographic breakdown of Americans who would want a smart home:

• 61 percent of Millennials
• 52 percent of Gen Xers
• 50 percent of Boomers
• 59 percent of parents

More details on the survey can be found here.

Methodology

This survey was conducted by Parks Associates on behalf of the Coldwell Banker brand within the United States between June 6-9, 2016 through a third party via an online omnibus product.  The survey was conducted among 1,250 adults (ages 18 and over) among whom 801 own at least one smart home product.  For the purposes of the survey, "smart home technology/products" were defined as products or tools that aid in controlling a home's functions such as lighting, temperature, security, safety, and entertainment, either remotely by a phone, tablet, computer or with a separate automatic system within the home itself.  Survey sample was demographically targeted to be representative of the U.S. general population.

All sample surveys and polls, whether or not they use probability sampling, are subject to multiple sources of error which are most often not possible to quantify or estimate, including sampling error, coverage error, error associated with nonresponse, error associated with question wording and response options, and post-survey weighting and adjustments. Therefore, the words "margin of error" are avoided as they are misleading. All that can be calculated are different possible sampling errors with different probabilities for pure, unweighted, random samples with 100% response rates. These are only theoretical because no published polls come close to this ideal.

Respondents for this survey were selected from among those who have agreed to participate in surveys for Research Now.

About Coldwell Banker Real Estate LLC 

Since 1906, the Coldwell Banker^® organization has been a premier provider of full-service residential and commercial real estate brokerage services. Coldwell Banker Real Estate is the oldest national real estate brand and franchisor in the United States, and today has a global network of approximately 3,000 independently owned and operated franchised broker offices in 47 countries and territories with almost 85,000 affiliated sales professionals. The Coldwell Banker brand is known for creating innovative consumer services as recently seen by taking a leadership role in the smart home space, being the first national real estate brand with an iPad app, the first to augment its website www.coldwellbanker.com for smart phones, the first to create an iPhone application with international listings, the first to develop an iPad application (CBx) to easily bring big data into home listing presentations, and the first to fully harness the power of video in real estate listings, news and information through its Coldwell Banker On Location^SM YouTube channel. Coldwell Banker is a leader in niche markets such as resort, new homes and luxury properties through its Coldwell Banker Previews International^® marketing program delivering exceptional experiences for all consumers served.

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SOURCE Coldwell Banker Real Estate LLC

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