We are proud to announce a new resource for REALTORS® developed by BCAP, the Appraisal Institute (AI) and the National Association of REALTORS (NAR).
As homes are increasingly listed with energy efficient features in Multiple Listing Services (MLSs) around the country, it is important for real estate professionals to both understand the benefits of energy efficiency, and how to best communicate with clients about efficiency. When they understand the impact that efficiency upgrades can have on new or existing homes, real estate professionals can advise and refer clients to additional actions they can take to further improve home performance. The National Association of REALTORS® offers NAR’s Green Designation program to those agents interested in high performance, resource efficient homes. Agents with this special designation are better prepared to serve the public on issues of energy efficient and green properties, and to ensure that these homes are appropriately valued by appraisers.
The new appraisal factsheet provides REALTORS® with specific steps to help them document the energy efficient and green features of homes and assure that they are appropriately valued by appraisers.
This resource is a complementary resource to the successful Appraiser Guidance Letter developed by BCAP, AI, and the National Association for Home Builders (NAHB). This original letter is continuing to get enthusiastic support from states and advocates for better appraisals for high-performing homes. It has been presented at numerous conferences and featured in these publications:
- New Appraisal Guide Helps Boost Green Home Valuations. NAHB Now, January 2016
- Green Home Valuation Gets a Boost. Green Builder Media, December 2015
- New Appraisal Guidance Addresses Green Housing. National Mortgage Professional Magazine, November 2015
It’s also now a featured resource at numerous organizations’ websites, such as the Vermont Realtors Green News, the Vermont Housing Finance Agency, and numerous other housing-related sites.
Further reading: Appraisal Competency – The Simple Version