Twenty years ago, a porch light timer might have been considered smart home technology. Today, as demand surges for thermostats that "learn" your desired temperature throughout the day and refrigerators that tell you when you need more milk, the definition of "smart" is coming under scrutiny. That is because sellers and their agents are using the term to boost sales and prices.
"There was a perception that if you had a smart home it would sell faster. One-third of our agents said that was happening," said Sean Blankenship, chief marketing officer of Coldwell Banker Real Estate, which is owned by Realogy. "We need to have some sort of standard in our industry about what a smart home is and what it means. How is it relevant?"