A recent article in The Washington Post, "How to get the real estate market to properly value green homes," shares how DOE, through its new Home Energy Information Accelerator, will help residential energy efficiency become more valued in the real estate market. Read the article to learn more.
This is a common phenomenon in real estate sales. There is currently a huge need in educating realtors and appraisers alike in the steps to provide value for homes with energy efficient features. I've been doing speak panel presentations for almost 4 years now in the Phoenix area to realtors. It amazes me that we don't have more realtors with the designations and training. In Arizona there are 88,000 licensees and around 100 realtors with designations like mine. Wow!
Our 5 persons speaker panel includes a local utility provider, energy auditor, appraiser, lender and me. We walk realtors and affiliates through the steps of selling homes with these features; energy audits during the inspection period; building codes; tax credits; best practices in real estate; and all the key components of selling homes with solar, etc. It's been very well received. We also touch on the Green & Energy Efficient Addendum and how to use it and where to find it.
When the green-field addendum rolled out in metro Denver, my company teamed with HUD, the EPA, the Colorado Energy Office, and Metrolist - the overseeing body for the metro-area MLS. We taught hundreds of area brokers about how to identify and use the addendum. Most brokers don't know enough or care enough to bother, last time I checked in with the CEO.
So that was our opportunity - to make a successful business out of doing this properly, including insuring our clients' appraisals properly reflect any energy savings from above-code building and features.
Real estate brokers who ignore this and don't make an effort to benefit their clients with this info ignore this at risk of becoming obsolete. Period.
Great to see this effort picking up steam. We've done a lot in Vermont but there is so much more to do. We're going to try and break down the industry silos further in late October with a two-state (NH/VT - we share an MLS) day of education (and continuing education credits) called: Green Real Estate Symposium: Appraising, Selling, and Financing Buildings with Energy Efficient and Renewable Energy Features.
The real key is collaboration as by all industry players. The building and efficiency and renewable experts must find better ways to make energy information accessible. It is PITI and E!
Great efforts Melissa and Jeffrey. The phrase "It takes a village" aligns with your efforts, too. It takes all the industry partners to make it happen Here's to your future successes in raising the bar for education and values!
Great to see so many RE/EE rock stars on this post! Here's another story about the new Accelerator from Realtor Mag (NAR). This accelerator is not so much about DOE, but about DOE reaching out to work with NAR, Council of MLS, Real Estate Standards Organization and other key players that have been doing their own progress on the sidelines. Great to see all these different players come together for the first time with such a common vision! http://realtormag.realtor.org/daily-news/2015/05/29/getting-word-ou...
Speaking of rock stars, Laura will be our Keynote Speaker at Green Real Estate Symposium: Appraising, Selling, and Financing Buildings with Energy Efficient and Renewable Energy Features, October 29, 2015 in Fairlee, Vermont.
Thanks for sharing the latest Realtor Magazine article Laura! Education and awareness if what it's all about and as long as conversations like this can surface and promote awareness, the public and industry benefit. -It's great to see that the appraisal industry is coming stepping up to the plate by including energy efficiency in required CE for appraisers. And there will soon be a green designation for appraisers - due out by EOY 2015 or first of 2016. We're on our 3rd course for appraisers here in Phoenix, with Sandy instructing again. She's such a an awesome "rock star" for the appraisal industry! Thanks for all you do for our industry!
Thanks Jan for your kind words but you also rock with all the work you do in Phoenix to move the market forward to a greener tomorrow. All the folks posting on this topic are "Rock Stars" and our efforts will pay off in the very near future. I am seeing a change in the real estate appraisal community and have great support from the Appraisal Institute on this topic. I look forward to teaching more in Phoenix, Aug. 28 and 29th.
Please pass the word to all Alaska appraisers that two Appraisal Institute Green Courses will be offered July 7 and 8th in Anchorage and July 9th and 10th in Fairbanks for the low cost of $40 per course. To register go to https://www.ahfc.us/classes/ These courses have continuing education credits available.
You're welcome Sandy! I know you've worked tirelessly on this effort for appraisers! BTW, I have us down for 8/27 & 28. Hope our calendars are in sync! The hotel next door is awesome, checked it our personally. Working on food and sponsors. We're getting closer! See you in August!