Appetites are building for eco-friendly homes, according to a new report.
Close to 60 percent of REALTORS® say that homebuyers have an interest in sustainability, and 69 percent believe that depicting energy-efficient features in their listings is “valuable,” according to the latest National Association of REALTORS® REALTORS® and Sustainability report.
In the last year, 34 percent have been “directly involved” in a transaction with an energy-efficient home on the table, the report reveals—and, 11 percent of brokerages had experience with repurposing, or when a building’s core function is reimagined (e.g., apartments converted from a factory).
Of those who are aware they can enter energy efficiency information into their MLS, 35 percent are adding in a home’s “green features”; 26 percent are adding “energy information”; and 14 percent are adding “certifications” (e.g., ENERGY STAR®, LEED, Pearl).
Meanwhile, 40 percent are confident they have a “green lender”—with energy-efficiency financing products—on tap, but 38 percent believe education is needed about the products to sufficiently understand them. Markedly, 83 percent have seen solar panels in their marketplace, with 36 percent believing they increase perceived property value. Twenty-percent have seen tiny homes—600 square feet or smaller—and 13 percent have seen wind farms.
Notably, 16 percent believe homes with “improvements that increase indoor comfort, health, operational efficiency and durability” are at a 1-5 percent premium.
According to the report, clients are looking for:
- Access to highways (82 percent)
- Easy travel to work (81 percent)
- Walkability (51 percent)
“The state of the environment is important to our members and their business practices, and the report shows that sustainability impacts consumers’ home-buying decisions as well,” says John Smaby, NAR president. “REALTORS® remain on the cutting edge of sustainability and continue to lead the conversation about energy efficiency in real estate.”
For more information, please visit www.nar.realtor.
Suzanne De Vita is RISMedia’s online news editor. Email her your real estate news ideas at firstname.lastname@example.org.