The term 'smart home' has been a big buzz word for many homebuyers and homeowners looking to upgrade their houses with the latest technology. However, as more technology is created, the term 'smart home' is shifting. Twenty years ago, writes CNBC reporter Diana Olick, a porch light timer was considered smart technology. Today, a thermostat that can learn residents' habits is the new standard.

CNET, a tech news website, teamed with Coldwell Banker Real Estate to finally define the 'smart home' and stop people from abusing its meaning in sales tactics.

The definition is as follows:

A home that is equipped with network-connected products (i.e., "smart products," connected via Wi-Fi, Bluetooth or similar protocols) for controlling, automating and optimizing functions such as temperature, lighting, security, safety or entertainment, either remotely by a phone, tablet, computer or a separate system within the home itself.

The home must have a smart security feature or a smart temperature feature in addition to a reliable internet connection. It then must include at least two features from a list of smart options, including appliances, entertainment, lighting, outdoor sensors, and safety detectors.

Coldwell Banker says the definition will help protect consumers against fraudulent claims and hopefully create a 'search term' for prospective home buyers looking on the internet for an technologically advanced home.

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