Green home features increase value and marketability

SAN DIEGO – Dec. 3, 2015 – Most multiple listing services (MLSs) now offer a green home option thanks in part to the National Association of Realtors® (NAR) Green MLS Implementation Guide, but the industry still hasn’t fully adopted listing standards.

Realtors shared strategies for assessing and conveying the value of green features during the Real Property Valuation Forum at the recent 2015 Realtors Conference & Expo. During the forum, panelists focused not only on the importance of agents understanding new environmentally friendly home features, but also on how to effectively market those features to potential buyers.

“Out of the 100 largest cities in the U.S., 79 have MLSs with green features included,” said panelist Laura Reedy Stukel, a Realtor in Elmhurst, Illinois. “So the question now isn’t ‘what are the MLSs doing to include green features?’ it’s ‘what are brokers doing to make sure that information is included?'”

More and more homebuilders and homeowners embrace environmentally friendly features. With that in mind, NAR’s Green Designation is being updated to include classes that focus on the features and situations Realtors often run into on a day-to-day basis.

“As Realtors, we’re used to selling granite countertops and closet space – but when you start including geothermal heat sources, you’re talking about a different kind of valuation,” said panelist Craig Foley, a Realtor in Somerville, Massachusetts. “Brokers need to make sure that they have specialists on their teams, and Realtors with the Green Designation are those specialists.”

According to the panelists, the demand for green is growing, and today’s consumers want homes and communities that are environmentally sustainable and resource efficient. The reasons behind this demand range from cost savings to Earth-saving.

“One of the main drivers of growing interest towards green features is their ability to lower home operating costs. However, there is also a growing understanding that we all need to take responsibility for our environmental impact,” said Foley. “And buyers are willing to pay with their wallet to have those features in their home.”

For more information on the Green MLS Implementation Guide and NAR’s Green REsource Council, visit NAR’s website.

florida realtors© 2015 Florida Realtors®

Reprinted with permission. All rights reserved. Florida Realtors®

Leave a Reply

Your email address will not be published. Required fields are marked *