New Green Umbrella For Real Estate
Published For The Corridor
Building Arts and Real Property
Save Money • Conserve Energy • Increase Value
Stop the rain and watch for a rainbow. There's a new avenue for marketing real estate properties in the "green" niche that appeal to customers who desire these features when purchasing every type of real estate. Buyers are searching for energy efficiency and agents offering properties with green attributes is definitely the next wave.
Energy efficiency resonates with buyers and more often they will respond favorably to properties with reduced energy costs that translate to increased value. According to the Appraisal Institute, increases in appraised value can be up to 20 times the energy savings.
Increases in value help stabilize the real estate market. Sales incentives such as a 10% rebate from an agent commission to new property owners desiring green features, used exclusively for green improvements, will save energy and simultaneously increase the value of the property.
When calculating down payment, mortgage amount, future energy savings, increases in appraised value and the additional income that results, savings for potential buyers can be realized up front before the purchase.
Gathering estimates from qualified contractors is the key for agents and owners alike. Solar, geothermal, green energy audits, water and air purification, grey water systems such as underground sprinklers, green roofs and any other green improvements that create energy efficiency, purify the air or conserve water are what savvy buyers are searching for today. The costs for these improvements may be included in a new mortgage and installed after closing with an escrow to guarantee completion.
Customers need guidance and assistance in locating qualified service providers that will help them save on energy costs that give them more spending power. Real Estate agents can provide assistance, increase sales, fulfill corporate social responsibility and demonstrate their support for green living.
The "greening" of Long Island can be the starting gate for something new in real estate.