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    Real Estate
    Thursday, May 09, 2024

    Majority of real estate clients interested in sustainability features, survey finds

    A majority of Realtors said their clients show at least some interest in energy efficiency, renewable energy, and other sustainability features, according to a recent survey by the National Association of Realtors.

    Sixty percent of the real estate agents and brokers who answered the survey said their clients are very or somewhat interested in sustainability. Twenty-six percent said their clients were neither interested nor uninterested, while 14 percent said they were very or somewhat uninterested.

    Sixty-one percent of respondents said they were comfortable or extremely comfortable answering a client's questions about home performance. Twenty-seven percent said they were somewhat uncomfortable answering these questions, while 6 percent were uncomfortable and another 6 percent were extremely uncomfortable.

    Despite these interest and comfort levels, most respondents said they have not worked with properties that have green features. Seventy percent said they have not helped a client buy or sell a property with green features in the past 12 months. Twenty-seven percent said they were involved in one to five transactions involving properties with green features.

    "As consumers' interest in sustainability grows, Realtors understand the necessity of promoting sustainability in their real estate practice, such as marketing energy efficiency in property listings to homebuyers," said William E. Brown, president of the National Association of Realtors.

    Many real estate professionals have started to use green data fields in their multiple listing services. These fields include information on features such as high grade insulation or Energy Star appliances. Forty-three percent of respondents said they use green data fields in their MLS. Thirty-eight percent said they did not know if their MLS had this feature, and 19 percent said it did not.

    The majority of respondents said promoting a property's energy efficiency has been helpful, with 71 percent saying it was very or somewhat valuable. Only 5 percent said it was not valuable to promote energy efficiency, while 3 percent said it depended on the listing.

    Green features

    Respondents said clients were most likely to be interested in a home's comfort. Ninety-five percent said a comfortable living space was very or somewhat important to their clients.

    Eighty-eight percent of respondents said the age and quality of a property's windows, doors, and siding was important to their clients. Eighty-seven percent said their clients considered a property's proximity to frequently visited places to be important. Seventy-nine percent said their clients considered utility costs to be important, while 58 percent said commuting costs were important.

    Respondents said their clients were less likely to consider dedicated green features to be important. Half said their clients were interested in lighting costs, 40 percent wanted a smart or connected home, and 37 percent said it was important to their clients that a neighborhood have green features such as bike lanes. Only 32 percent said their clients thought landscaping for water conservation was important, while just 23 percent said they considered it important that a home have a renewable energy system.

    Solar panels were the most readily available renewable energy system, with 80 percent saying they were available in their market. Half of the respondents did not know what effect these panels had on the property's value or considered them to have no effect. Forty-two percent said they increased its value, while 9 percent said they decreased its value.

    Forty-eight percent said it was unclear if solar panels affected a property's perceived time on the market, while 32 percent said they had no effect. Eleven percent said properties spent a little more time on the market if they had solar panels, while 5 percent said they sold a little faster.

    Twenty-four percent of respondents said tiny homes—defined in the survey as properties of 600 square feet or less—were available in their market. Sixty-one percent said these homes were not yet available.

    Only 16 percent of respondents said wind farms were available in their market, while 71 percent said they were not. Sixty-five percent did not know what effect wind farms had on the perceived property value or said they had no effect. Twenty-two percent thought they lowered a property's value, while 14 percent thought they increased it.

    Neighborhood features

    Respondents said their clients were most concerned with having easy access to schools (79 percent) and shopping (72 percent). Sixty percent said their clients were interested in neighborhoods with parks or outdoor recreation, 37 percent wanted access to local food, 9 percent wanted recycling to be available, and 6 percent were looking for community gardens.

    Personal vehicles were a greater concern than other transportation options. Eighty-two percent of respondents said their clients considered easy access to highways to be important, while 81 percent said it was important for them to have a reasonable commute time or distance.

    Fifty-one percent said their clients considered walkability to be important, while 39 percent said it was important for their community to have bike lines.

    Only 31 percent said their clients cited public transportation as an important feature. Forty-two percent said their clients never request to see properties close to public transportation, while 27 percent said this request rarely occurred. Twenty-one percent said they sometimes get requests to see properties close to public transportation, while 8 percent said these requests are frequent.

    Personal actions

    The survey also asked participating Realtors about their own sustainability efforts. Forty-four percent said their brokerage has not set goals to reduce energy usage by a certain date, and 34 percent were unaware of such a goal. Ten percent said their brokerage was working to reduce energy usage by a certain date, and 13 percent said such a goal was in development or planning.

    Respondents were more likely to have taken steps to reduce their own personal energy use or waste. Eighty-six percent said they had done so.

    Only 11 percent of respondents said they use an energy efficient vehicle and plan to do so in the future. Fifty-seven percent said they do not use such a vehicle and do not plan to get one. Twenty-nine percent said they do not have an energy efficient vehicle but plan to get one in the future, while 1 percent said they currently have one but do not plan to use a similar vehicle in the future.

    The "Realtors and Sustainability" report is part of the National Association of Realtors' new Sustainability Program, which aims to provide leadership and strategies on sustainability topics. The report was based on 2,867 survey responses by real estate agents and brokers.

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