More homebuyers and sellers are in the market for greener, sustainable homesâ€”and REALTORSÂ® are answering the call.
Over half of REALTORSÂ® recently surveyed in the National Association of REALTORSÂ® (NAR) REALTORSÂ® and Sustainability report say consumers have an interest in sustainability as it pertains to real estateâ€”homes that have features intended to conserve natural resources, such as solar panels or walkability. Twenty-seven percent of those surveyed have been involved with at least one “green,” or sustainable, property in the past year.
One of the more valued features, according to the survey, is efficient lighting, cited by 50 percent of the REALTORSÂ® surveyed as important to consumers. A “smart” home is also in demand, according to 40 percent of those surveyed, and, to a lesser extent, geothermal technology and “green community features” (e.g., bike paths). Sixty percent of those surveyed say consumers are looking for outdoor recreation and/or parks in proximity to home, while 37 percent say consumers are looking for “local food.”
Eighty percent of the REALTORSÂ® surveyed, in addition, say solar panels exist in their market, but just 42 percent say their presence gives a boost to perceived home value. Twenty-four percent say tiny houses exist in their market.
The real estate industry has recognized the mounting significance of sustainabilityâ€”in fact, 70 percent of those surveyed “feel strongly” about the benefits of marketing sustainable home features to consumers, and 43 percent say their MLS has green data fields to input information related to those features.
REALTORSÂ® and Sustainability is part of NAR’s Sustainability Program, a “platform for dialogue on sustainability for REALTORSÂ®, brokers, allied trade associations and consumers,” with a “focus on coordination and articulation of NAR’s existing sustainability resources, while also supporting a growing area of interesting for consumers, helping members to assist homebuyers and sellers,” according to a release on the report.
“As consumers’ interest in sustainability grows, REALTORSÂ® understand the necessity of promoting sustainability in their real estate practice, such as marketing energy efficiency in property listings to homebuyers,” says NAR President Bill Brown. “The goal of the NAR Sustainability Program is to provide leadership and strategies on topics of sustainability to benefit members, consumers and communities.”
For more information, please visit www.nar.realtor.
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