WASHINGTON – With more home buyers prioritizing sustainability, real estate pros are seizing the opportunity to demonstrate their expertise by focusing on energy efficiency during showings.
Green home features are taking a higher priority in more real estate listings as home shoppers increasingly turn their attention to energy efficiency, according to a new report from the National Association of Realtors®. The 2024 Realtor® & Sustainability Report also shows that more real estate professionals consider promoting green features to be central to demonstrating their value to consumers.
“From the integration of green data fields to the growing market acceptance of eco-friendly certifications, the industry is poised to lead the charge toward a more sustainable future,” NAR researcher Sidnee Holmes notes on the association’s Economists’ Outlook blog about a “green revolution” taking place in real estate.
Nearly 40% of respondents to NAR’s sustainability report say their MLS now includes green data fields. Also, 57% of the more than 4,000 survey respondents say energy efficiency promotion is “very” or “somewhat” valuable to their clients.
The green home features consumers are focused on include windows, doors, siding, and comfortable living spaces, alongside sustainability considerations, the survey shows. “This dual focus on comfort and eco-consciousness highlights the importance of holistic design approaches that prioritize both environmental responsibility and quality of life,” Holmes says on the association’s blog.
Could green features also increase a home’s value? Thirteen percent of real estate pros in NAR’s survey say they believe high-performance homes can command a premium of 1% to 5% compared to similar homes without green features. They view solar panels, in particular, as boosting value: Thirty-one percent of real estate pros say solar panels increase a home’s perceived property value. However, about half of real estate pros surveyed say they are unsure whether a high-performance home could impact the dollar value of a listing.
Homeowners’ increased awareness of energy efficiency is prompting them to consider retrofitting their property to add green features, and they’re taking advantage of federal rebates to offset some of the costs. Real estate pros view themselves as an information resource, with 35% of NAR survey respondents saying they are confident about connecting their client to a lender who can provide lending products that encourage energy efficient improvements to existing homes.
© 2024 National Association of Realtors® (NAR)
