00:03Hello and welcome to today's program. I'm Brian Hardy with I Devices and I'll be your

00:07moderator for today's discussion.

00:09We are excited to be able to pull in experts from four of the leading smart home companies

00:14supplying the home building industry. Today.

00:16We'll be tackling the topic of making smart homework for homebuilders.

00:20For those of you that have questions during today's webinar,

00:23please feel free to enter them into the question box and if time allows,

00:27we'll get to these at the end.

00:29If not, I'll follow up afterwards with a reply with that.

00:32Let's meet our panel for today's discussion.

00:35I'm Brian Hardy, Director of Sales for I Devices.

00:39Hi, I'm Pete Hollenhorst and I work as the regional manager um for uh Euro.

00:45Hello, I'm Todd Towie National Account manager for Ring.

00:51Hello, my name is Bob Espero. I'm National builder manager for quick set door

00:54locks. Great. Thanks everybody.

00:58Uh Now for today's agenda, obviously, we're here to have a discussion about why and how

01:03builders should approach smart home implementation.

01:06We'll also delve a little deeper into platform strategies, Homebuyer experience and

01:11preferences as well as operations and implementation.

01:15But first, let's ask why build a smart home? What is a smart home?

01:19Uh where is the smart home industry going?

01:22And what are others doing?

01:23Uh Several prominent reports from companies like Berg Insight found nearly half the

01:29American housing market will be considered smart in the next three years.

01:33So essentially what we're seeing is smart home adoption rates are predicted to continue to

01:38climb rapidly reaching the 50% mark by 2024.

01:42And that's important because that's the entry point of maturity for an emerging industry for

01:48home building. Specifically, a farms growth group study

01:51revealed that 66% of homebuilders that are offering smart home technology offered as a

01:57standard. Another study showed that 40% of broadband

02:01households they move in ready home is one that has smart home technology already installed.

02:08So this is important when you're differentiating yourself from resale.

02:12So why build a smart home one? Your competitors are doing it.

02:16Secondly, homebuyers prefer it and expect it.

02:20Now, let's talk a little bit about platform strategy, which seems to be a stumbling block

02:24for some uh smart home uh companies that are and for some home builders that are

02:29implementing a smart home program. I'll start with a question for Pete.

02:32Uh when a builder is considering offering or updating a smart home program,

02:37what do they need to know about what home buyers are looking for?

02:42But you know, I I Brian, I appreciate uh you having us and,

02:45and welcome to all the attendees that are out there.

02:47You know, the, the slide in front of us talks quite a bit uh about what's going on you're

02:51seeing today that 64% of respondents say that, you know,

02:55they uh they want products or, you know, they're working with a smart speaker that they

02:59own even on the low side at 56%. You know, that you're finding that your

03:04customers that are looking at homes right now or potential homebuyers are working with many

03:08different types of smart products that are out there.

03:11Um You know, voice assistants really are the the center of the smart home um that come

03:17through. But at the end of the day, what powers all of

03:19this is, is that Wi Fi really becomes the central nervous system of the home.

03:25Customers come into a new home and, and expect that it uh expect it just to work,

03:29think back to your experiences, you know, not more than 60 days ago,

03:34you know, and, and compare it to what Wi Fi is what you're asking Wi Fi to do today inside

03:40your home. You know, at, at 60 days ago, we relied on Wi

03:45Fi for inner operability with, with smart speakers today.

03:50Um You know, my upload at least 10 hours a day. You know,

03:54my paycheck is determined by the upload in, in working from home.

03:58But if you take a look at the icons that are on screen, you know,

04:01so much of our, our lives, whether we're talking about a thermostat,

04:05whether we're talking about streaming capability, whether we're talking about Hh Vac,

04:10the list goes on and on um about that. And Wi Fi really becomes the central nervous

04:16system to the smart uh homebuilder experience that's out there without good Wi Fi,

04:21none of this is going to work, right? It kind of touches on that decentralized aspect

04:27of smart home technology, right. There are a lot of different devices that

04:31people are using for a part of that smart home experience.

04:34Uh It's also worth noting that, you know, to touch on your comment about interoperability,

04:40uh how devices work together is important and Apple, Google and Amazon are all teaming up to

04:46develop an open source uh standard that's meant to ensure that devices work together.

04:50So it's certainly important to consider all that.

04:54Uh as you're delving into smart home technology.

04:58Uh One important consideration for smart technology also is future proofing.

05:02We've seen some hub systems become obsolete or be replaced by newer ones.

05:07Uh Bob uh Quicks set has been a player in the smart deadbolt space for some time.

05:11What were some of the reasons behind the launch of your new Wi Fi based smart Deadbolts halo?

05:18Thanks Brian. A lot of it by Quick Set was because of really

05:21convenience and cost. You know, we've had Z Wave and Bluetooth

05:24products out there, but they always require some type,

05:27some type of back end of hub or a gateway of some sort to actually operate the lock remotely

05:32and help full functionality over it.

05:34I think with the wifi, it's the ease of use the connectivity piece of it.

05:37The homeowner only has to do is just download the app,

05:40connect it to their internet and then they have a smart lock up and running and then they can

05:44use it remotely as well.

05:46In the past, there was a lot of wires going to and from hubs and uh routers of those sorts.

05:50And then the cost piece of it, you no longer have a cost of the uh the added expense of

05:55having to have to make that communicate with wifi just makes it a lot easier to download the

06:00app connected to your internet. And like I said,

06:02you're full functional with the application uh with uh the quick set halo.

06:07Yeah. And sometimes you lose some of that

06:09functionality when you're going through a hub or an apple.

06:12It is uh uh maybe not from the actual manufacturer themselves.

06:16So, um I just take a little time to discuss the home buyer experience.

06:20Obviously, that's very important. Uh And uh you know,

06:24when you consider how they are using smart technology, why they're using smart technology

06:30and how much they're willing to pay for it.

06:32So, Todd, I've, I've got a question for you. You know,

06:35a lot of builders are convinced that the products they offer have to all be controlled

06:40in one app or on one product. Uh But what can we really tell about consumer

06:44usage data that tells us about how they value the importance of a one app solution or a one

06:50product solution. And what do we know about how home buyers

06:53control their smart home products today?

06:56Hey, thanks, Brian. Um Yeah, no, the consumers today are looking

06:59for a seamless integration uh throughout all of their smart home uh devices,

07:05right? So whether it's on their smartphone and,

07:07and and a single app and on the slide right here at 35%.

07:12Um looking for on a smart, a voice on a smartphone.

07:15Certainly uh as well as on the uh voice over for the smart speaker and with Ring and the our

07:22app, we can control all of that seamlessly whether it's in a,

07:25a speaker, um voice control uh with the Alexa platform or certainly within our app and the

07:32ability then to do a seamless integration with multiple ring devices within that app.

07:38So, doorbells and floodlight cameras, uh multiple ways of,

07:42you know, controlling ring is what customers are looking for.

07:47Yeah, absolutely. It's interesting to note that the use of smart

07:50speakers is actually doubled in the last couple of years.

07:53So certainly that trajectory is heading upwards and it shouldn't come as a shock.

07:58But the same survey we're looking at now also found that physically touching the device to

08:03control, it occurred less than voice or app control.

08:06So given our conversation about smart technology, I think that would be an obvious

08:11outcome. Uh Here's an interesting fact among smart

08:15devices owners, uh the number of devices owned doubled from 2016 to 2018.

08:21So for every Roomba or smart TV out there, we might also find a handful of smart egg trays or

08:28pet feeders. Uh Pete given this information,

08:31how important is it for a homebuilder to consider which smart products a home buyer

08:35might already own when creating or updating the smart home program?

08:40You know, Brian, it's a fantastic question. You know,

08:43one of the things that I I like to, to think about is just,

08:46you know, what do you already own?

08:48Um That's out there. I, I was incredibly amazed when we took a look

08:52at, at just voice assistant um ownership. You know,

08:55there's over right now, there's over 30 million different Roombas that are being sold.

09:01Um You take a look at at one of the more popular Alexa devices it's out in the market

09:06and this may blow you away. One of the more popular Alexa devices right now

09:09is the smart microwave. Um That's there and I,

09:12I can tell you on a Saturday night, if I'm watching a movie,

09:14the ability to, to have uh some popcorn ready to go for me is huge.

09:19Um That's out there, but you know, each home buyer at the end of the day is gonna have their

09:24own unique blend of products um that they wanna be able to use.

09:27Um, that's out there. So when we're thinking about Wi fi,

09:31when we're thinking about smart home, we want to embrace things that are agnostic or more

09:35importantly, that are open to a variety of the different needs that customers have um that are

09:40out, you know, whether it's a smart pet feeder like we're talking about or I think pretty much

09:44the Roomba is becoming ubiquitous throughout homes that are out there,

09:49right? And as you guys saw in the opening pictures,

09:52I don't have much need for that smart hairbrush, but certainly have a lot of other products.

09:56You, you really can't look at this in a vacuum anymore and look at it as it relates to just

10:01what you're providing in that home as a home builder.

10:05Um You know, Todd, one of the biggest considerations as it relates to including smart

10:10technology as a homebuilder. It's a matter of what a home buyer is willing

10:14to pay. Uh Why do you think we're seeing a huge

10:16customer migration to stand alone products like ring as opposed to hub based or fee for service

10:22plans? And what does this mean for homebuilders as

10:27they consider what they should offer?

10:30No, that is a a real good question is what the uh the perceived value uh that all these smart

10:35devices uh bring to the to the great experience within the home.

10:40And I think that's something that Ring is certainly looked at as far as,

10:44uh you know, when we talk about integration with all the,

10:46you know, the various platforms in which we work with.

10:49Um But it, it does bring up an interesting uh an interesting point about millennials and how

10:54much they're willing to spend.

10:56And I just use our alarm as an example uh for that, uh We certainly want home builders to

11:02continue to offer their alarms that they, you know, currently do today.

11:05But I think Ring fits in that sense of um the ability to um to sort of

11:12maximize, you know, each monthly fee. Right?

11:16So our, you know, $3 a month per device or $30 a year and then you could do an uh whole alarm

11:23system for $10 a month or $100 a year, sort of that good,

11:27better and best mentality uh that people are looking for to give them options.

11:32And that's what home builders, you know, that's what Ring thinks with home builders is that uh

11:36given the give options, right? So let millennials or let the home consumer uh

11:42pick what's right for them.

11:44And I think that's what Rings tried to accomplish, right?

11:47And what's great about the Ring program is obviously, it starts at no cost and goes up

11:53from there. So you give a buyer options without obligating

11:56them to a monthly fee. Whenever an introductory period,

12:00uh might uh might expire.

12:02Um One of the topics we've often uh been asked about is which products should be offered.

12:08Uh, you know, which one should a builder put into their smart home program and which ones

12:13are most popular with prospective home buyers. So, you know,

12:16Bob, when you take a look at recent studies from NAHB and others,

12:21uh it, they indicate that convenience, security and energy efficiency are three of the top

12:27reasons homebuyers choose smart technology.

12:30So if you're a homebuilder, how can you create a program centered around those Homebuyer

12:35preferences? Uh I, I think with the, the package that you're

12:41talking about it, it's usually pretty, pretty simple when you're looking at,

12:44hey, you wanna be able to secure their house. So with the locks important and the lights and

12:48thermostats, those are all three things they're touch each and every day and like to manage.

12:52So I think once they get that first experience and then they can build upon other things,

12:57irrigation, uh garage door openers, things like that to really manage the entire ecosystem of

13:02their own home. But obviously it all starts with that first

13:05simple package and just getting them really acquainted with the,

13:09with the smart technology that they have in their home and then building from that,

13:14right? You know, a lot of uh a lot of the products

13:16that uh are represented on this uh webinar today, right?

13:20Uh provide convenience uh for those home buyers. Uh certainly security uh with Ring and,

13:26and Quicks set and even our products at I devices to some extent,

13:30uh you know, making sure you're coming into a well at home or uh enhancing automations that

13:36can make it look like somebody's home when uh you're away on vacation.

13:39But uh these are all uh important things and when you're looking at these categories,

13:44uh focus on what's important to the home buyers.

13:47Um You know, our friends at era always say a smart home is great as long as it doesn't

13:53sidetrack your core business.

13:55And what you're seeing in today's social distancing environment is that our technology

14:00can actually help facilitate how builders are able to maintain their core business,

14:05which is obviously selling building and closing homes.

14:09Uh Todd Ring has some great tools that can facilitate social distancing buyer access to

14:15model homes and interaction with sales agents. Uh Can you talk about that a little bit?

14:20Sure. So uh at Ring, uh we definitely uh start to see

14:24a trend towards uh people looking at homes and inventory homes or in their model homes,

14:30but specifically on the inventory homes where Ring would have a video doorbell that uh the

14:37potential home buyers would press that would then give access to a home builders,

14:43uh a sales associate, you know, hey, welcome. Uh They could welcome you through in and get

14:47you into the house. Then we with ring and our ability to interupt

14:52uh uh integrate with um with the Alexa devices, potentially an Alexa show or something of that

14:58nature where they then would be able to have a conversation with potential buyers.

15:02Hey, welcome. You know, this, this is home is,

15:04you know, two thou 2500 square feet, four bedrooms, three baths,

15:07go over the details of it and then actually have the um you know,

15:12have a, a self guided tour where no associates actually in the property with them.

15:17So it limits the contact there and then, um a, at the end kind of ensure that,

15:23uh you know, any questions that they could answer again,

15:26done all remotely. And then, uh as the camera leaves,

15:29they would set the motion off, you would be able to see the potential buyers then exit the

15:33property and leave again. It just gives uh the home builder a chance to

15:39show homes uh in sort of this contactless environment as well as then,

15:44you know, on through as well. If they don't have an associate,

15:48it gives them again, just the, the potential buyers to schedule times to see the home um at

15:53a more opportune times for the actual consumer.

15:57Yeah. Right. I mean, certainly, uh, everybody is struggling

16:00right now to maintain their, their business operations and being able to uh make

16:05prospective buyers feel comfortable uh and give them a way to enter those homes is important,

16:10uh, you know, Bob.

16:11Um you know, your smart dead bolts have been a pretty valuable tool for builders uh enabling

16:17them to continue showing and selling homes. Um You know,

16:21talk a little bit about how that's working. And could this become commonplace once normal

16:27life resumes? I I think it will become commonplace.

16:31You think about all the different applications, the features and benefits that are associated

16:35with it with the lock itself and just being able to manage and secure the,

16:39the model homes or, or inventory homes through wifi enabled product.

16:44Uh with internet connectivity, you can schedule times for the lock to unlock this.

16:49For certain people assign codes, uh manage those codes and at the same time getting real

16:53time updates as to when that lock has been locked or unlocked.

16:58So you can either manage it remotely or on site, but it definitely gives you a lot of leeway to

17:03be able to allow potential home buyers to visit our home without you having to be there.

17:09Right. And certainly there are a lot of people right

17:11now that uh uh either want to uh look at a model home when they can do so without a sales

17:17agent present. Uh they, they wanna do it when there aren't

17:20gonna be others uh present, uh you know, social distancing and sometimes it's just a matter of

17:26scheduling, right, uh working around their work schedules or when they have childcare and other

17:31things that make it important to be able to access those model homes uh or inventory homes

17:37uh outside of normal business hours. Um We're actually seeing some builders

17:42implement these sorts of strategies already like our partners over at Shea homes and our

17:47instinct product uh which is a smart light switch that has Alexa built in actually be

17:53programmed to deliver custom marketing uh content uh that is specific to that builders

17:58communities or floor plans. So it adds a wow factor.

18:01It enables social distancing and just as importantly, it can easily be removed since

18:07it's installed on the wall. So there are a lot of great tools out there

18:11today that can allow you to reach your buyers, allow them to tour your model homes and

18:16ultimately uh enable you to close sales.

18:19Um Of course, any sort of building material product comes with a cost and if implemented,

18:25well, uh smart technology will certainly have a considerable effect on home sales and home

18:30buyer satisfaction.

18:31Uh Pete, what are some of the components of cost that a builder should consider and how

18:37they impact both the home buyers and their brand?

18:41I Brian, it's something that we give a lot of thought to.

18:45Um you know, at, at EO and, and one of the big things should be,

18:49you know, that the platform should be agnostic. You've got a lot of different customers that

18:54are coming through. Um You know, we, we wanna make sure that um you

18:58know, the cost of entry is, you know what we call that barrier to entry.

19:02That the cost of entry is the focus, you know, from a builder perspective,

19:05you want to take a look at, at how much um this total investment for smart home is and,

19:10and where that money could be better applied. I think that's one of the great aspects when we

19:15talk about wi Fi and smart home.

19:17Um that's out there is is that you're getting that ease of implementation.

19:21Um We're talking about uh a very small SKU set that comes in.

19:25And more importantly, you're able to utilize the existing trades that the the builders are

19:30working with. You, you wanna offer either a very standard or,

19:35or more importantly, a simple installation and then from the home buyer,

19:39um you, you want products that are gonna maintain, you know,

19:42the stuff that is um that has a longer runway and a proven runway that's out there.

19:48Um As opposed to, you know, subscription based programs um that are out there,

19:53you know, the the trip to charge to update um that's out there and then the monthly fee,

19:58it's one of the reasons why I love um the value add that like a ring product gives um when

20:03combined with era, I mean, we both have a very simple setup um in,

20:08in terms of deployment um that goes on one password.

20:11Once you're working with Euro, one password would ring or any Amazon devices automatically

20:16populates, but that monthly fee structure from Ring um,

20:19makes a big, big difference. Um That's out there,

20:22you know, for 100 bucks a year, you know, we're able to do quite a bit and then the,

20:26the bigger question that I have and, and it's actually very personal to me is what does that

20:31do for your brand as a builder? Um If you lose remote access,

20:36we came into a house and, you know, three years later, the alarm company that they had

20:41installed no longer service, the panel no longer offered any,

20:45any additional services um that were out there. What, you know,

20:48what happens if you choose to stop paying monthly fees?

20:51What happens if the initial, you know, after the initial introductory period that's out

20:56there, it leaves with a uh a negative experience, but the biggest thing just across

21:01is just, you know, the, the platform should be agnostic and we should focus on the cost of

21:06entry. Um That's out there.

21:08I think those are the primary deals, right? And not just the cost of entry for the

21:13homebuilder, but also those costs for the home buyer at the end of the day.

21:18Um Thank you. Thank you.

21:20Uh And with that, uh I want to sincerely thank all of you that joined us today?

21:25Uh Andrew, uh How are we on time?

21:29We've got a few minutes to actually take a couple questions.

21:32Um We have a great question from Mark with Walter's Wholesale Electric.

21:38He asks, will there be a single interface app that can control all smart devices?

21:44And will there be a limitation on how many devices it can control?

21:49Well, that's a great question. I think that you've got a number of options

21:54when it comes to a single app solution.

21:58And what we talk about often at audio devices is utilizing the app that is controlling your

22:04voice system. Uh Obviously, uh most smart products have uh

22:09either an Alexa Skill or a Google assistant skill.

22:12Most of them have both.

22:14And that's a great aggregator for a lot of the smart technology that's out there and can give

22:20you remote access to those products as well as voice control over those products.

22:25Ultimately, it's all about uh allowing those buyers to interact with the products that they

22:31own, using what they want, right? Uh Either either Alexa Siri or Google assistant

22:37fans. Uh and much like you wouldn't want to take an

22:40iphone user and try to convince them to use an Android or vice versa.

22:44I think that people uh have uh alliances to their technology for,

22:49for obvious reasons, right?

22:51Um I use itunes, so I've used a lot of Apple products because all my music and all my movies

22:56are there. Uh Amazon Prime is certainly a very popular uh

23:01service as well for both music and uh entertainment.

23:04So uh looking down the road, uh we all know that uh you know,

23:09Amazon Google and Apple are all working on an open source um solution for this.

23:16So I think that over time it'll be easier to tie a lot of these uh very different

23:21technologies together. Great. And then uh we have another question from

23:26another mark. Thanks for this question mark.

23:29Do you see an increase in interest or actual utilization in the multifamily housing industry,

23:35either through renovation or new build?

23:40Oh, absolutely. Absolutely. Uh As a matter of fact,

23:44that's one of our fastest growing uh segments right now.

23:47Um Just like single family homebuilders are trying to differentiate themselves from others.

23:53Um I think that multifamily properties are obviously trying to achieve the same thing and

23:59uh it's crazy in some cases, you can have a five year old property,

24:02which certainly isn't that old, but if you're competing with a newer asset,

24:06um that's down the street and offers some of these things,

24:09how can you update your property uh to allow it to come from a technology standpoint?

24:16So, uh I think that what's great about a lot of the products that we're talking about on this

24:20webinar today is you can do it as you go, you don't have to make a huge investment in that

24:25tech technology up front.

24:27You can do this without obligating uh your um uh residents to uh pay monthly

24:34fees or, or to charge monthly fees. And um I think uh overall when you take a look

24:40at the RO I and no, I on adding these sorts of smart products to multifamily.

24:46It's an absolute no brainer with a payoff period of often less than 12 months.

24:53Great. And then we have a couple of comments from

24:56Scott and Dixie saying great presentation, great session.

24:59Uh We have another comment or question from Tommy or this is specific for Euro and Ring.

25:05Do you have any large builders that have issues with how to get the product to the homeowner

25:10without being stolen?

25:12Uh, he says Ring won't have internet hooked up, which means it can be stolen easily.

25:16Same with Euro without needing internet. How do builders put this in or distribute it

25:20safely? Yeah, on the ring side, uh, I'll jump in.

25:27Um, that is, uh, you know, that is a concern of ours and we have,

25:31uh, work with our large builders and other builders as well is to try and,

25:36you know, set the schedule to have the, the actual ring product installed,

25:41uh, just before the, the homeowner moves in.

25:45Um, the more that the house sits, uh, sort of empty without,

25:51um, you know, empty without having, you know, sort of security into it.

25:55Uh The more likelihood that that is a possibility, um Ring does have a,

26:00uh, you know, a program that is a lifetime protection of theft product.

26:05So, if indeed a product is ever stolen, um, we're able to replace that at no charge,

26:11uh, if you work with your local police department to have a police report,

26:15uh, we then will replace that at no charge. Having said that we have a plan,

26:19but the reality is as a homeowner. Do you really wanna move in and wait a minute?

26:23My doorbell just got stolen.

26:24So we want the experience. We're trying to explain in the standard

26:27operating procedures that we've been, uh, you know, communicating is trying to have that,

26:32uh, the, the device, the ring device installed as close to the,

26:36um, when the homeowners moving in as possible. But a good question

26:44and I think that, you know, to kind of touch on what Todd said,

26:47uh, that's not unique to ring. You know, I think you look at the popularity of

26:51video doorbells today. Um, there's got to be a solution whether it's a

26:55ring product or others. Uh, uh, that's, that issue isn't necessarily

27:00unique to, to the ring brand.

27:05We have, uh, I think we have time for one more question here guys.

27:08Uh, do you believe this is from John?

27:11Do you believe Zigbee and, or Z Wave have a future in the residential smart home?

27:19Um, you know, I think, uh, when you take a look at, you know,

27:23existing products that are out there, uh, they can certainly have,

27:27uh, a future. Um, those products have been around for a long

27:30time. You know, I think one of the important things,

27:33uh, no matter what the sort of communication or radio within that device is,

27:39is you've got to find a way to uh make it agnostic.

27:42So I think a lot of the developments that are uh forthcoming from uh the likes of Apple and,

27:49and uh Amazon and Google will certainly be exciting.

27:53Uh Ultimately, what you want to look for is something that's agnostic and gives you the

27:58ability to offer a solution to home buyers that allows them to use whatever they want

28:04to, to control their smart products, right? Whether that's a smartphone,

28:08uh whether that's a voice assistant or whether that's an app and um that uh you know,

28:14gives you that sort of flexibility and often uh by eliminating though that zig B or Z wave

28:21hub, uh you're also giving a solution that uh as a home builder gives you a lower cost of

28:27entry while still providing that flexibility that the home buyer is gonna want at the end of

28:32the day, right? And then we had one more, I think question I

28:38just wanted to point out um Glenn asked for the webinar be sent out or be able to share later.

28:45Um And, and I can just say that's a quick yes, but Brian,

28:48if you want to elaborate.

28:50Yeah, absolutely. Um We'll have a recording of the webinar uh And

28:54it can be found. Uh I think we'll have that posted on the

28:57linkedin pages for each of our respective companies.

29:00Uh And I know that I devices, we'll have that on our website as well and I suspect the others

29:05will too. So uh there will be a way to get a recording of

29:09this and have it available. And obviously, if you'd like to learn more from

29:12any one of us, uh our contact information is displayed on the screen right now.

29:17So, uh with that, uh thank you all for attending today.

29:21Uh I'll uh enclosing and each of our panelists for a comment about why homebuilders should be

29:27invested in smart home technology and I'll get it started with a comment from a guy I've known

29:32for a long time and I respect immensely and that's Dan Bridle from KB Home.

29:37He said we no longer question whether technology will add value to a home sale price

29:43or whether it is profitable, but how these technologies can evolve to meet the needs of

29:48home buyers. Uh And I thought that summed things up

29:50perfectly, Pete.

29:54You know, I, we continue to think that uh right now Wi Fi becomes the central nervous system of

30:01the home at Eero. Um Part of that's because we do Wi Fi,

30:04but part of it is because, you know, you look at the panelists that have been on this.

30:08You know, the great products for my device is Quicks set ring,

30:11all depend on really good Wi Fi and it's a good partnership.

30:14All the brands that you see here are brands that work well together.

30:18We're just happy to provide a, a platform that, that makes and ties all these great products

30:23together. But I'd, I'd encourage you strongly if you're

30:26not doing smart home or you're not working with one of the partners that you see here on the

30:31call. Um There's huge opportunities here.

30:33There's a lot of runway with, with all brands, Bob.

30:40I could agree with you more. You think about the convenience factor behind

30:43everything, all these products, it just makes your life so much more convenient.

30:46You think about not having to touch anything. And you know,

30:49when you think about your vehicle where it's uh uh Bluetooth enable,

30:53it's touched open, touched to start and stop and now with your,

30:55your locks and voice activation, everything that you can just do pretty seamlessly and

31:00conveniently. I think that uh speaks a lot to a new home

31:03buyer, even an existing home buyer that's used to the,

31:05the smart products, Todd. Yeah. No. Uh with Ring

31:12and our mission to make neighborhood safer and helping builders build not just a home but a

31:18community, right? And, and, and strengthening the sense of

31:21community uh with our Neighbors app and uh you know, allows our neighbors to look out for one

31:26another. It's sort of a neighborhood watch for a digital

31:29age. It allows again, communities to build uh

31:32strengthening the the community uh in that. And I think that helps builders and communities

31:37across the country. So that's what I would uh end with.

31:40Absolutely. Uh again, thank you everybody for joining today.

31:44Uh If you have a question that we did not get to, uh we will try to uh call those and to the

31:50extent that we can and make sure that we follow up with a response directly to you.

31:54Thank you again and have a great day.