Home security systems make people entering houses immediately feel safer and that their well-being is a priority. With evolving technology, how important is it to have new security options through “smart homes?” With close to 5 million houses bought and sold in the U.S. each year, those with wireless home security and smart options definitely are beginning to stand out on the market.

A Coldwell Banker Real Estate Smart Home Marketplace Survey found that nearly half of consumers say smart home technology is important for their current home or their next home purchase. Some people also refer to it as “connected technology.”

Coldwell Banker leaders recently went so far as to offer an industry-wide definition of a smart home as:  “A home equipped with network-connected products  for controlling, automating and optimizing functions such as security, temperature, lighting, safety or entertainment, either remotely by a phone, tablet, computer or a separate system within the home itself.”

Smart products are connected through Wi-Fi, Bluetooth or similar protocols. Wireless systems use battery-operated sensors that wirelessly connect to a control panel. The control panels require a power cable most of the time but usually has battery backups.

Eighty-seven percent of Americans acknowledge the value of smart home technology, but only one in four has this technology in their homes, says Lindsey Turrentine, CNET magazine editor-in-chief and vice president. “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.”

To be truly categorized as a Coldwell Banker smart home, properties must have a smart security feature that either controls access or monitors the property or a smart temperature feature. Other precaution features being sought in homes include:

• Safety (smart fire / carbon monoxide detectors and nightlights)
• Outdoors (sensor-based landscape lighting, smart plant sensors and watering systems)
• Security (smart locks, smart alarm systems or networked security cameras)

A year ago, when real estate agents were assisting sellers in new steps to upgrade their homes to increase their attractiveness to buyers, sellers began using smart devices as selling points and ways to differentiate their homes from others on the market. Smart, connected home security features can impress buyers who are unacquainted with the technology, while reassuring those who are familiar with its advantages.

American home builders also indicated they were aware of how popular that smart home technology was becoming. The National Association Home Builders staffers even surveyed potential home buyers about their wants. They found that 54  percent of respondents expressed a desire to have a wireless home security system incorporated in their properties. A majority, or 51 percent, also wanted smart thermostats; many others included remote security cameras, lighting and energy management systems on their wish lists.

An economist at the association said the data definitely shows a preference for technology attributes in houses, especially among Millennials. For example, of homeowners in the Coldwell Banker survey who said they’d purchase or install smart home products, 65 percent would pay $1,500 or more and 40 percent would pay $3,000 or more to make their home smart. Of Millennial homeowners (ages 18 to 34) who would purchase or install smart home products, 72 percent would pay $1,500 or more and 44 percent would pay $3,000 or more to make their home smart.

The association even offers audio reports about the latest research regarding consumer interest in smart home technology and sustainability, including:  the products purchased and how satisfied consumers are with them, what consumers have said their barriers are to buying, as well as what they think the real barriers are to mass market adoption.

Before purchasing a house, buyers often examine factors such as the crime statistics of the nearby neighborhood. Realtors confide that a house with a wireless security system can be a deciding factor for most buyers, and that the safety points of homes can impact resale value. Combined with wireless keypads, automatic deadbolt locks, outdoor lighting and motion detection tools, these extra safety measures are true benefits.

It appears smart technology will be around for the near future, as well, in that 70 percent of people with smart home technology say buying their first smart home product made them more likely to buy another one.