Realtors are promoting a culture of sustainability just like most home buyers and sellers. They have revealed that more than half of their clients are interested in issues regarding sustainability, as well as issues and practices surrounding real estate. Construction companies are also doing their best to ensure they’re using sustainable materials in construction.
The National Association of Realtors of the United States conducted the survey. They found the information presented in their findings in the 2022 edition of their sustainability report. Eleven percent of respondents in the survey revealed that a high-performance home had almost 5% more value added to its selling price. Other homes usually have an appraised value of 1%
The sustainability program of NAR surveyed Realtors regarding sustainability issues that consumers faced in the property market. Realtors are setting up their own objectives too, especially for reducing energy usage. Some of them are proud of their progress in balancing both the natural and built environments.
Sustainability has a direct relation to the work of agents and realtors. Many leading realty firms are leading by example. They are determining ways of optimizing resource use and ensuring future generations don’t face resource constraints.
Both Realtor firms and construction companies are making efforts to meet consumers’ growing interest and demand for sustainable homes. Data fields are being deployed by Multiple Listing Services (MLS) to identify the sustainable spots of these homes. 35% of respondents in the survey indicated positive feedback about their MLS having green data fields.
Construction claims experts reveal that a lack of proper regulations will saturate this market and project advisory. Then again, realtors are delighted to see great value in the promotion of energy efficiency and sustainability in listings. Almost 63% of them find value in promoting those features to existing and prospective clients.
Growing concerns among people regarding climate change are fueling the shift towards solar energy and other sustainable measures
NAR’s conducted the survey. It further asked numerous respondents about their attitudes and findings about renewable energy. They even asked them about its impact on the real estate industry and markets. A vast majority of both agents and brokers revealed that solar panels are available in the market. A chunk of this very majority also revealed that solar panels have a role in appraising the prices of homes.
There are market considerations and issues a lot of real estate agents and brokers pointed out. 31% of them revealed that lending options for energy upgrades or solar installations were hard to understand. Another 31% pointed out it was hard to understand how solar panels had an effect on a transaction regarding a home.
Whereas the remaining 29% were asking how solar panels impacted the valuation of properties. This left a lot of forensic delay analysis experts scratching their heads in surprise.
Were the respondents feeling confident about property values being appreciated by the installation of solar panels?
Thirty-two percent of respondents revealed in the survey that they were quite confident about connecting clients to lenders willing to finance homes with energy-efficient features/improvements. Many existing homes in California have them added.
One-third of the survey’s respondents revealed that they often felt comfortable answering clients’ queries regarding the performance of these homes. Only 24% were uncomfortable. This leaves a lot of room for real estate professionals to be educated about sustainability measures.
How many respondents were involved with clients regarding sustainable properties?
24% of real estate brokers revealed that their markets had small homes. They further revealed that they were involved with their clients regarding sustainable properties. 50% of them were involved directly. Many had sold homes that had sustainable features installed in the past year.
Features present in these sustainable homes are considered by clients as quite important. 42% of respondents liked a home for using efficient lighting. 42% admired smart home systems connected to those homes, 27% admired landscaping measures for water conservation, and 23% admired renewable energy systems like geothermal/solar energy powering them.
Another important factor to note was the home’s operating costs. 71% considered a home’s proximity to schools and workplaces (business districts) along with the home’s comfort factor to be equally important.
How important are community features in those suburbs?
35% of Realtors reported that their clients preferred sustainable-neighborhood features. Among them are bicycle lanes and green spaces. 19% revealed that homebuyers were concerned about the environmental impact of most of these homes on other homes, properties, and areas. 25% of them revealed that clients were worried about natural disasters, especially the following:
- Drought.
- Heatwave.
- Cold Wave.
- Wildfires.
Commuting and transportation features also help add value to both these homes and the suburbs they are situated in. 50% of residents admire the walkability and close proximity of both public transport, and public transit, and 25% liked bus stops and train stations nearby.
Conclusion
Sustainable homes aren’t a joke. They are happening and people are buying them. Existing homes can become sustainable by curtailing the wastage of electricity, gas, and water. Newer ones obtain their electricity through community solar plants or wind turbine plants.
