Home Values Increase by 10% on Average with Disclosure of 'Green' Certifications; Most Sellers Missing Out
The Illinois Association of Energy Raters & Home Performance Professionals (IAER) finds that most real estate agents are in the dark about 'green disclosure' features found in many property listing services.
CHICAGO, Jan. 12, 2015 /PRNewswire/ -- First, let's dispel the myth of 'Green' homes- in construction, 'green' actually just means 'well-built'. The green certifications are earned by homebuilders incorporate checklists and performance testing to ensure a home will be comfortable, healthy, durable, and low-cost. It turns out that homebuyers are willing to pay more for proof of those benefits - 10% more, on average. No recycled countertops or bamboo carpets needed.
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In multiple studies across the U.S., homebuyers paid 10-14% more for homes with green certifications over comparable homes. The Multiple Listing Services (MLS) across the country are excited about this new avenue for added value in property sales, and 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, and you'll probably see features like 'HERS Rating' or 'Green Certifications' on the front page. Problem is: they're usually blank.
Realtors and real estate agents are widely untrained in how to use home performance features, so even if your home has some great ones, you won't see any financial benefit when you sell. And on the flip side, if you're buying a home, you'll have no idea how the home feels, smells, costs, and holds up to the weather until you've paid and moved in.
A comprehensive look at the performance of any home is a straightforward process that can be completed in a few hours by any BPI or RESNET-certified professional. Testing of the enclosure (air seal and insulation) and the HVAC (heating, cooling, and ventilation) can immediately determine any home's enjoyability and energy efficiency, and pinpoint the most effective home improvements.
"Home Improvement Consulting is the best way to phrase it for existing homes," says Corbett Lunsford, Executive Director of the Illinois Association of Energy Raters. "In new homes, we can deliver quality control of the construction process, which is something that's sorely needed in today's rushed, underfunded, overhyped home industry."
Home certifications generally include ENERGY STAR Home Certification, which is a brand recognized by over 80% of Americans. Verifying a home meets ENERGY STAR quality can only be done by a HERS Rater (which stands for Home Energy Rating System), and a list of these professionals in the Midwest can be found at http://ilenergyraters.org.
Before you prepare to sell or buy a home, get a home performance analysis (aka energy audit) to earn a better position at the negotiating table, and to prove what the house is really worth. See a five-minute video showing how to use the Green MLS at: https://www.youtube.com/watch?v=ddnft2zx5p4
FOR MORE INFORMATION OR TO LOCATE A HOME PERFORMANCE PRO IN THE MIDWEST: http://ilenergyraters.org
Contact IAER Executive Director, Corbett Lunsford: 773-271-5310
SOURCE The Illinois Association of Energy Raters
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