Last April, the National Association of Realtors® released a survey identifying green homes as a feature more buyers are looking for. Now, the NAR reports that “sustainability provides a value proposition” when marketing these types of homes for sale. Residential homes account for about 25% of U.S. energy consumption. Using sustainability as a marketing tool can help both sellers and buyers get the home that fits their needs.
Green homes in demand
In the April report, NAR President Leslie Rouda Smith, a Realtor® from Plano, Texas, said,
“sustainability continues to play a growing role in consumers’ purchasing decisions, and this is becoming even more prevalent in the real estate market…”
Sustainability in real estate not only increases the home’s appraised value, but it can also bring other benefits that can’t be measured in a real estate transaction. The perceived value of the home increases, even if it doesn’t reflect in the sale price. Energy efficiency saves money on utility costs. Often, green homes have better air quality, which increases comfort for the habitants.
Consumers make purchasing decisions based on sustainability
Real estate is not the only industry promoting sustainability. The Global Sustainability Study 2021 is just of one many studies that identify the importance of businesses being sustainable. This study reported that 60% of its respondents (10,000+ people across 17 countries) assess the sustainability of a business as part of their purchase criterion. IT is a great way to stand out from the crowd and engage with a homebuyer who is looking for green options in their home.
Get educated about real estate sustainability issues
The NAR offers a GREEN designation for its Realtors®, but only about 0.5% of Realtors® have this certification. It is one step to take to learn more about real estate sustainability issues and to integrate green value propositions into your business. Consumers are looking for green homes – that’s a fact. When you understand what they’re looking for, you can set up your listings to have more meaningful information.