I am providing this information to Realtors who think that green homes should be compared to the same value as a spec and cheaply built homes, and to those Realtors who think that selling a home on Square footage is the best way to value a home. These Realtors are not doing their buyers or sellers any good¦.
Economists from UC Berkeley and UCLA completed an analysis of all 1.6 million single-family homes sold in California from 2007-2012 (Q1), studying the effect of green building labels on property sale values. They found that the approximately 4,000 green labeled homes with Energy Star, LEED for Homes, and GreenPoint Rated labels sold for 9% more (±4%) than comparable, non-labeled homes. The research indicates that the premium exists in hotter climates (where cooling costs are higher) and where environmental ideology (as measured by the rate of registration of hybrid vehicles) influences consumers’ buying choices.
Click Here to Read the Executive Summary and the Report
The Washington Post – Energy-Efficient Homes Often Command Higher Prices
LA Times – Green Labels Add Value to California Homes
Market Watch – Green Home Labels Add Significant Value
Sustainable Business News – Green-Certified Homes Get 9% Higher Sales Price in California
Realtor Magazine – Green Homes Sell or Higher Values
How do I find a Realtor who can help sell my homes green features?
My agent does not see the value of the green features I have on my home. I do not have a PV system but I do have other green features.
I think you would agree that the green features you have added to your home have the potential to set your home apart from others without these features.
Most agents that do not have the additional education regarding green features do not believe they are important when listing a home for sale – mostly because they do not want their ignorance pointed out. Â Having a real estate agent understand what features were added and why is extremely important.
There are two real estate related designations that Realtors can achieve that give agents the knowledge to recognize and explain the benefits of green features and then be able to market and sell the home.
1. The first is a company called EcoBroker. They are located in Colorado and were the first to create a program to certify agents with green education. You can search for their designees at their website: www.ecobroker.com
2. The second is the National Association of Realtors Green designation program. This of course is a nationally recognized program that provides a well rounded background in the principles and guidelines of green building and how it relates to real estate.
You can also find their designees at: www.greenresourcecouncil.org.
I hope that this helps you find a qualified agent to sell your home!