Boulder is a great market for green-built homes. But just saying your home is green does not make it so. Proper marketing that highlights quantifiable and verifiable features pays off in terms of how fast your home sells and for how much money.
The good news is that the Boulder area MLS system – IRES – has added searchable fields and a green addendum that makes marketing your home easier. The key is to find a Realtor who understands the green features of your home, and knows how to communicate the benefits to buyers and their brokers.
If you have any questions, or if you’d like a free market analysis of your home, please contact me at 303-473-2773 or monique@moniquecole.com.
New IRES MLS Green Features
Our MLS system is the first in the state to institute searchable fields for these features:
- HERS rating
- ENERGY STAR Qualified New Home
- LEED for Homes
- NAHB/NGBS-ICC 700
- Solar PV
- Solar Thermal
- Green Features Addendum (includes construction type, Heating, Cooling and Ventilation systems, water efficiency, indoor air quality sustainable materials, energy features [i.e. windows, passive solar, roof, thermostat], energy star appliance)
Prepare Your Home for Market
- Gather your paperwork – warranties, Energy Star ratings of appliances, solar system specifications, etc.
- Get a HERS rating
- If applicable, apply for 3rd party certification through LEED for Homes, Energy Star or NAHB
- Ask your Realtor for a Green Features Addendum Form and fill it out, along with your Seller’s Property Disclosure
The Value of MLS Green Features
A study in the Northwest by the Master Building Association of King & Snohomish Counties looked at the relationship between marketing comments in MLS mentioning Built Green, LEED for homes, or Energy Star certification with sales price.
Study: 1,470 certified homes sold 2007-April 2009.
Results:
- Certified homes sold for a 14% premium (Average $534,000 versus $458,000 for non-certified)
- All counties reported a premium, with Thurston County the highest at 25% premium
- Built Green was the most often referenced certification
Bottom Line Value:
A market study by the Earth Advantage Institute published in 2009 compared homes in two different Northwest markets – those certified by Energy Star, LEED for Homes, Built Green and Earth Advantage versus comparable homes with no distinguishing green features that sold during the same period. Here are the results:
Portland, Oregon:
Study: 92 homes certified by 3rd parties versus 340 non-certified homes built between 2002 and 2008, and SOLD between 2006 and 2008.
Green Certified Homes:
- Sold 18 days faster
- Sold for 4.2% more $$$ (Average: $431,900 versus $390,400 for non-certified)
- Sales price per square foot: $223 versus $196 for non-certified
Seattle, Washington
Study: 62 certified homes versus 207 non-certified comparable homes built between 2002 and 2008 and SOLD between 2006 and 2007
Results – Certified Homes:
- Sold for 9.6% more (Average $487,000 versus $470,000 for non-certified)
- Cost per square foot $278 versus $202 for non-certified
