We’re at the National Association of Realtors® (NAR) conference this weekend, which is taking place in New Orleans this year and one of the “HOT” topics in this conference is “green” or eco-friendly. Earlier this morning an education session titled Green Labels Sell Homes with speaker Sara Lamia from Home Buying Coach Inc., spoke about green certification programs, how agents must prepare to explain the “green” value to buyers as well as the strengths of “green” in a competitive market. The title of that session begs the question of whether “green” labels do in fact sell homes.
In a previous post of ours, Home Buyers “Buy Into” the “Going Green” Trend, we researched the answer to that very question. According to the key findings from a new study by PRD Nationwide, 30% of participants stated many would certainly fork out up to $10,000 extra to build or buy a “green” property; which is excellent news for agents marketing a “green” home.
However, to have buyers fork out extra money you need to make sure that the home goes through the appropriate checks to verify it as an energy efficient home. Dave Porter from PorterWorks, Inc., addressed this in his session Green: What Your Lender & Appraiser Need to Know. He spoke on how to identify energy savings that will increase the value of the building as well as true green mortgages.
I think it’s safe to say that the “green” trend is here to stay in the eyes of home buyers and sellers. Real estate professionals will begin to encounter more and more “green” properties and should be ready!
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