Homeowners Missing Out on Disclosing Green Certifications when Selling their Home by 10%
First of all, let’s dispel the myth of ‘Green’ certifications for homes. So in construction, ‘green’ actually just means ‘well-built’. The green certifications are earned by home builders incorporating checklists and performance testing. All to thereby ensure a home will be comfortable. As well as healthy, durable, and low-cost. It turns out that homebuyers are willing to pay more for proof of those benefits. So can you say 10% more, on average. No recycled countertops or bamboo carpets needed.
Real studies have proven countless times that in the U.S., homebuyers paid 10-14% more. Again that’s for homes with green certifications over comparable homes.
The Multiple Listing Services (MLS) across the country are excited about this new avenue. A new avenue for added value in property sales. With over 180 of the 850 MLS sites (run by only 12 companies) now incorporate ‘green features’. Take a look at an MLS listing from any metropolitan area. You’ll see features like ‘HERS Rating’ or ‘Green Certifications’ on the front page. Problem is: they’re usually blank.
The Illinois Association of Energy Raters & Home Performance Professionals (IAER). It finds that most real estate agents are in the dark about ‘green disclosure’. Especially features found in many property listing services.
Furthermore, realtors and real estate agents are widely untrained. Untrained in how to use home performance features. So even if your home has some great ones, tough luck. Because you won’t see any financial benefit when you sell.
Finally, home certifications include ENERGY STAR Home Certification. That’s a brand recognized by over 80% of Americans. Verifying a home meets ENERGY STAR quality can only be done by a HERS Rater. A HERS rater stands for Home Energy Rating System and it includes a list of certified professionals in the Midwest. In conclusion, it can be found at http://www.mwhpa.org
In conclusion, before you get ready to sell or buy a home, get a home performance analysis (aka energy audit). That’ll help you to earn a better position at the negotiating table. As well as prove what the house is really worth. You need to know about green certifications too. So finally, please see a five-minute video. It’s showing how to use the Green MLS at: https://www.youtube.com/watch?v=ddnft2zx5p4
