A recent report from the National Association of Realtors (NAR) reveals that a majority of real estate agents and brokers believe in promoting energy efficiency in their listings. According to the 2023 Realtors and Sustainability Report – Residential, 63% of agents and brokers agree that promoting energy efficiency in listings offers value and transparency when it comes to sustainability. The report examines sustainability issues currently facing the real estate industry.
The NAR’s deputy chief economist and vice president of research, Jessica Lautz, stated that “buyers often seek homes that either lessen their environmental footprint or reduce their monthly energy costs. There is value in promoting green features and energy information to future home buyers.”
The Findings of the 2023 Realtors and Sustainability Report
The report also found that half of Realtors were directly involved with a green features property within the past 12 months as either a buyer or a seller. Forty-eight percent of agents and brokers found that consumers were very or somewhat interested in sustainability, and almost one-third (32%) of realtors were concerned about how climate change might impact the real estate market.
This year, respondents were asked whether or not they considered environmental risks while purchasing a property. Nearly one-fifth (17%) of respondents said a significant portion of their clients consider environmental risks. Additionally, 14% of agents and brokers had clients inquire about energy efficiency upgrades.
In terms of sustainability issues, agents and brokers mostly listed understanding how solar panels impact a transaction (35%), understanding lending options for energy upgrades or solar installations (33%), and valuation of solar panels on homes (32%).
Realtors believed the most important green home features for clients include windows, doors, and siding (39%), proximity to frequently visited places (37%), a comfortable living space (37%), and a home’s utility bills and operating costs (25%).
The Importance of Energy Efficiency in Real Estate
The report highlights that good stewardship of the land and the built environment is critical to the real estate industry.
The report emphasizes the growing importance of energy efficiency and sustainability in the real estate industry, with a majority of agents and brokers recognizing its value. As sustainability concerns continue to grow, real estate agents who effectively promote and convey the value of green features are likely to gain an advantage in the market.