Sustainable Real Estate
As a leading real estate industry trade association, the National Association of REALTORS® (NAR) is at the forefront of sustainable real estate practices. Last year, the NAR launched the official NAR Sustainability Program to spearhead sustainability research and collaborate with other organizations like the National Association of Home Builders (NAHB), the Urban Land Institute (ULI) and the Council of MLS (CMLS).
The NAR defines sustainable real estate practices as “adaptability, viability, resiliency, and resource efficiency.” In today’s market, sustainable housing is shifting from “nice to have” to a regular expectation. According to an annual survey conducted by the NAR’s Sustainability Program, over 60% of agents surveyed report that home buyers and sellers are somewhat or very interested in sustainability.
Additions like solar panels and energy efficient appliances can actually make a property more appealing to some buyers. 42% of survey respondents said solar panels increased a property’s perceived value and 70% said energy efficiency promotion in listings was very or somewhat valuable.
Through the NAR Sustainability Program, the organization hopes to promote an understanding of lending options for energy upgrades or solar panels, improve the energy efficiency of existing homes, and address the lack of MLS data about energy efficiency on specific properties. Interested real estate agents can earn the NAR’s Green Designation through training available here.
Sources: Green Resource Council, RISMedia