Market Overview

Smart Home Popular Among New Generation of Home Buyers



Technology is driving new generation of home buyers to prefer “Smart Homes.” According to Forbes, one of the things that home buyers want is home automation systems, opting to build or purchase homes using the latest technology.

A recent Market Watch report stated that smart homes market in Americas is expected to grow to $224 billion revenue by year 2020. From 2013 to 2020, the compounded annual growth rate is at 17.62 percent, it added.

The United States is leading the market share with more and more homeowners who want to transform their homes into a “smart home.”

Park Associates, a market research company, stated early this month that that 43 percent of the U.S. broadband households would want a smart home package which includes automation systems for home management, safety or security features. It said that the smart home market is booming.

“There is clearly strong demand for smart home devices—particularly those that provide added safety and security to the home. Consumers will naturally expect high reliability from these devices, and support services will therefore play a key role in adoption and usage trends,” John Barrett, Director, Consumer Analytics, Parks Associates was quoted as saying.

The new generation of home purchases today uses online tools for house hunting. Smart Phone apps are is another tool used in searching for homes. Buyers utilize the social media to gather tips on the best way to buy a home. Buyers watch virtual tours or YouTube videos before they look for a realtor.

Home buyers today reach out to real estate brokers through the Internet, one company that can help  millennial homebuyers  in making purchase of smart homes is RealBiz Media Group, Inc. (OTC:RBIZ).

According to its web site, its client base includes more than 60,000 real estate agents and brokers It is a real estate digital media and technology company.

“The company enjoys access to the nation’s largest real estate companies with numerous approved vendors and national contracts, both key to its future development programs. When completed, the company is targeting distribution of its digital video network to more than 70 million households and an agent-driven MicroVideo App program,” stated in the company’s web site

In a video message, Bill Kerby, chairman and CEO of RealBiz, said it is "a platform that allows the agent to go out and customize and create home solutions, home events, what's happening in their neighborhoods, home listings that they can target to individual, to consumers, through emails, to social media platforms like Facebook.”

The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.


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