Brokers and agents are increasingly seeing the value of green home certifications, particularly in the commercial real estate space. The National Association of REALTORS® recently released its 2021 REALTORS® & Sustainability: Commercial Report, detailing how members are perceiving the sustainability issues facing the industry.
The findings:
– 18% of respondents said their Commercial Information Exchange (CIE) had green data fields, which were used to promote energy information and green features
– A majority of brokers and agents (69%) said that energy efficiency promotion in listings was “very” or “somewhat” valuable
– 29% of buildings with green certifications, such as LEED, Green Globes or the Living Building Challenge, didn’t see an impact on days on market
– 37% of brokerages had experience working with commercial building repurposing, such as converting empty malls into technical schools
– 57% percent of respondents were “extremely comfortable” or “comfortable” answering clients’ questions about building performance
– The following building features are most important to clients, according to REALTORS®: utility and operations costs, indoor air quality, efficient use of lighting, and windows, doors and furnishings
– 21% of respondents were directly involved with a property that had green features in the last year, either on the buyer or seller side
The takeaway:
When it comes to green building certifications, real estate practitioners are most familiar with LEED and Energy Star for buildings, with other options such as IREM, BOMA and Zero Net Energy decreasingly used. And regarding home values, it’s pretty evenly split: 37% saw an increase in property value due to green building certifications but 32% did not.
To read the full report, click here.
