From a decline in Smart Home Technology, to the expansion of the innovative startup Alula, to home security cameras influencing the way we buy and sell our homes; this weeks news headlines prove that the Home Security Industry impacts our every day lives in more ways than we can imagine.
Are we less interested in Smart Home Tech than we used to be?
For several years, smart home technology was all the rage. From controlling the thermostat, to your sprinkler system to your security, to dimming the lights to smart home tech seemed to be the easy (and cool!) solution to handling electronics at home. However, Amazon sales rank data collected over the past few years has indicated that consumers seem to be losing interest.
A recent article from Media noted several examples of this decline in Smart Home Tech. In 2016, the popular Google Nest was a top 20 product. However, last winter the Nest dropped down to a top 100 product, and does not make the list at all midway through 2019. In a similar vein, the Phillips Hue lighting product that allows you to control the lighting of your home with an app on your phone fell from 15.8 average sales ranking to high eighties; nearly falling off the top 100 list all together.
So are consumers no longer interested in smart home technology? Probably not. However, with many more entrants into the market, the big players may not see as much market share as they used to. Furthermore, Smart Home Tech that is cost effective and easy to use may be the way of the future, and not necessarily the apps that promote the glitz and glam.
Alula, Smart Security Start Up, Plans to Grow
Security startup Alula has expanded to St. Paul, Minnesota and plans significant growth in the region. The Minnesota Department of Employment and Economic Development predicts the company will create 135 jobs in the area within the next three years, according to MinneInno.
Alula’s CEO, Brian McLaughlin, he states, ““We were looking at our growth plan last year and realized very quickly that if we wanted to achieve our growth aspiration, which is quite aggressive, we needed to be part of a fast-paced community.”
Alula focuses not only on physical security, but also cyber security. The innovative company is hoping to integrate artificial intelligence into their video systems within the next few years. The hope is that this artificial intelligence will ultimately start recognizing faces and scenery, and can notice suspicious activity more quickly.
McLaughlin takes pride in Alula’s “startup mentality,” and although they plan to add 50-75 news positions between the new St. Paul office and the Houston office, Alula plans to maintain it’s innovation and hustle.
How are Home Security Cameras Changing the Way We Buy and Sell our Homes?
With the increase in security cameras in houses, the way people are buying and selling a home is being affected. Based on a trends analysis from Fox News, individuals who are selling their home may be watching potential buyers tour their houses…and taking notes.
At first glance, this may not seem like it would have have a big impact on the buyer/seller relationship, however, buyers are experiencing otherwise. For example, when individuals walk into a home they clearly love or their “dream home,” their facial expressions often portray how they feel about the home, or whether or not they would be willing to put in an offer. When a seller is watching for reactions of the buyers, it can be more difficult for the buyer to negotiate the price. (It is easier to hold fast to a price point when they have seen that you love the house!)
This isn’t the only way that these cameras are influencing sales. Real estate agents have noted that the sellers have watched tours, and later called and asked why an individual had their shoes on, or why certain details of tour occurred. This can cause anxiety, not only for the agent, but for the buyer as well.
So what should be done in regards to this new trend? For home buyers, it is suggested that you ask the realtor if the house has a security camera. If they do, don’t worry, but maintaining a poker face may be the best move if you want to talk your dream house down to a lower price.