I came across an article that highlighted the first green home listed in the Northstar Multiple Listing Service (MLS). The listing, located in Robbinsdale, MN, is an Energy Fit-certified home, which means that it reached the Center for Energy and Environment’s standard of energy efficiency. The thing that got me curious was the ‘first” reference. How is it that this home, in 2014, is a first to be marketed as a green listing in the local MLS?
I’ve since learned after poking around that out of the 860 MLSs in the country only a hundred or so are what industry insiders call a “green MLS.” That means that only a small fraction of real estate agents in the country have the ability to market a home in their local MLS as green.
Why does this matter? Well for starters, what if you’ve invested in green upgrades to your home and are now ready to sell? If you’re one of the lucky few putting your home on the market in a green MLS, other real estate agents will be able to tell their buyers about your green home, especially those that are looking for a green-labeled home. Otherwise virtually no one will hear about these wonderful upgrades.
The other big issue of not having a green MLS is lack of data. Without reporting on green home amenities in an MLS, those within the industry, including homeowners, have no way to prove how much more a home is worth with such upgrades. There are a handful of studies from those early green MLS adopters that indicate homes sell for more money and in less time. But, as we all know, real estate is local, so that might not be the case in all markets.
I’ll be keeping an eye out on this subject and looking forward to welcoming more green MLSs into the club. If you’re interested in learning more about this, please visit The Green MLS and these two white papers by the National Home Performance Council and U.S. Building Green Council.
The post Greening Up Real Estate and Not Just for the Holiday appeared first on Coldwell Banker Blue Matter.
Via: CWB Blue Matter