Efficient buildings attract high prices, but agent knowledge is low: NAR

Although more than half of commercial real estate agents see value in promoting energy efficiency and other green building features, they’re hobbled by the lack of green data fields in their commercial information exchange, a National Association of Realtors survey finds. 

Commercial information exchanges, or CIEs, are the databases agents rely on to let other agents know of the availability and associated information of properties they have for sale or lease.     

Only 13% of respondents in the NAR’s recent survey of commercial-focused members say they have green data fields in their CIE, making it hard for them to promote sustainable property features. Yet among those whose CIE has green data fields, more than half, or 54%, say they use them, the report said. 

“Realtors thrive in a culture of sustainability that promotes viability, resiliency, and resource efficiency,” the report says. 

More than a third of commercial agents, or 37%, have completed training on commercial property sustainable elements, such as energy-efficient appliances, renewable energy systems or eco-friendly building materials, the report says. 

Still, the majority of agents, or 52%, say they never work with buildings featuring sustainable elements, and just 19% say they work with these buildings at least once per year. 

More than half, or 55%, say that promoting sustainability in a listing is either very or somewhat valuable, but only 30% say that buildings with green certifications receive higher valuations from the certifications. Only 9% say the certifications lead to quicker sales or leases. 

The findings show that building tenants have a lot of interest in green features, with 58% of agents saying that’s what tenants most often ask about, and 53% say they ask about vehicle charging stations. 

But hard costs remain most important to buyers or those looking for leases, the survey shows. 

Most-sought sustainable building features that clients ask about are “utility and operations costs (32%), indoor air quality (26%), energy-efficient windows and doors (25%), the impact of extreme weather events (21%) and the efficient use of lighting (16%),” NAR said in a release on the survey. 

Importance of building features to clients: