RISMEDIA, Nov. 30, 2007-Knowing more about the environmental contaminants that exist under and around a home, before it is sold, could help Realtors® close deals, according to an Environmental Data Resources (EDR) survey conducted at the National Association of Realtors Annual Conference in Las Vegas. The survey indicates that enhanced environmental disclosure can make the due diligence process more comprehensive and therefore help homebuyers feel more secure about their purchasing decisions, yet it remains missing from the majority of U.S. home inspections.
“While real estate agents are in business to sell, not investigate, the homes they list, this survey indicates that it is valuable to uncover as much as you can about the environmental health and safety of a property, particularly the presence of environmental contamination,” said Ben Cesare, EDR’s managing director of Residential Services. “An environmental disclosure report conducted during the home inspection process fully informs the buyer, provides a level of liability coverage for the agent and reduces complications at the closing – making everyone more confident in the completion of the sale.”
Findings from the survey include:
- Ninety-five percent of Realtors surveyed have taken a listing and then discovered an issue with the property that made it difficult to sell.
- Seventy-six percent of those surveyed say that potential environmental conditions, such as soil contamination, influence homebuyers’ purchasing decisions.
- Ninety-five percent of Realtors do want to know about environmental problems on or surrounding a property before they take it on as a listing.
- Nearly 60% of respondents said their listings are selling in between one and six months. Yet most Realtors at the show agreed that keeping sales strong involves finding innovative ways to keep people interested in the home-buying process.
Environmental disclosure through reports such as the ones EDR provides can allow Realtors to differentiate themselves in a slower market, according to attendees who walked the show floor. “An environmental issue wouldn’t necessarily deter me from taking the listing,” said one Realtors, “because most issues can be resolved and will lead to a sale.”
For more information, visit www.edrnet.com.
Copyright© 2014 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.
Content on this website is copyrighted and may not be redistributed without express written permission from RISMedia. Access to RISMedia archives and thousands of articles like this, as well as consumer real estate videos, are available through RISMedia's REsource Licensed Content Solutions. Offering the industry’s most comprehensive and affordable content packages. Click here to learn more! http://resource.rismedia.com