I don’t know what brainchild came up with the idea of making Realtors the point-of-sale police of the country. In theory it’s probably a great idea to someone. The latest in California is the State Assembly’s decision that it may be the state’s sellers who will be required to cough up $400 for an energy audit. Completing the audit is just the beginning. You knew there was more to it, didn’t you. Once the audit is completed here comes the upgrades.
Who’s going to pay for those upgrades? In current market conditions it may be nobody. Many sellers don’t have the cash. It can’t be included as a payment out of escrow; the equity isn’t there. As Realtors we can’t justify adding it into the price of the house. Add a few thousand dollars to a list price and watch it languish on the market.
When you get the Call to Action from your local or state board or the NAR, get on it. Make the call. Send the email. Otherwise next we’re going to be hauling clients off to the point-of-sale jail. Or worse: There will be fewer houses to sell and fewer who can afford to buy them.