Properties Magazine May 2017 : Page 36

ACAR CORNER Issues in the real estate industry Interest, Demand Grows for Greener Properties rowing interest and demand for greener, more sustainable properties is driving a dialogue between Realtors and buyers and sellers. In April 2017, the National Association of Realtors (NAR) introduced the Realtors and Sustainability report, which surveyed Realtors about sustainability issues facing consumers in the real estate market and ways Realtors are setting their own goals to reduce energy usage. G JIM FOX According to the report, which stems from NAR’s new Sustainability Program, over half of Realtors find that buyers have an interest in real estate sustain-ability issues and practices. “As interest in sustainability grows, Realtors understand the necessity of promoting sustainability in their real estate practice, such as marketing energy efficiency in property listings,” says Jim Fox, president of the Akron Cleveland Association of Realtors. “The goal of the NAR Sustainability Program is to provide leadership and strategies on topics of sustainability to benefit mem-bers, consumers and communities.” To meet growing consumer interest, more Multiple Listing Services are incor-porating data entry fields to identify a property’s green features. Forty-three per-cent of respondents report their MLS has green data fields, and only 19% do not. “Realtors see great value in promot-ing energy efficiency in listings with seven out of 10 feeling strongly about the benefits in promoting those features to clients,” Fox says. The survey asked respondents about renewable energy and its impact on the real estate market. A majority of agents and brokers (80%) said that solar panels are available in their market; 42% said solar panels increased the perceived property value. Twenty-four percent of brokers said that tiny homes were available in their market, compared to 61% that reported tiny homes were not yet available. When asked about involvement with clients and green properties, 27% of agents and brokers were involved with one to five properties that had green features in the last 12 months. Seventy percent of members worked with no properties that had green features, leaving a great deal of room for future growth. The features that Realtors said clients consider as very or somewhat important 36 Properties | May 2017

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