What features are most important to commercial real estate clients?
Utility and operations costs, indoor air quality, efficient use of lighting and windows, doors and furnishings, NAR’s Realtors® and Sustainability: Commercial Report found. Green features in commercial real estate are becoming more prevalent as consumers look to be more environmentally-friendly and save money. Eighteen percent of commercial Realtors® in the survey said green data fields are on their commercial information exchange, compared to 33% who said they are not and 49% who don’t know. For those agents who have these fields, 26% use them to promote energy information, 25% promote green features and 17% promote green certifications. And nearly 70% of respondents said advertising energy-efficiency for a commercial property is somewhat or very valuable.
While green features may be desired by consumers, only 7% of Realtors® said buildings with green certifications spent less time on the market than their counterparts. However, 37% do think green certifications, such as LEED, increase the value, while 32% think there is no impact on the value. Thirty-seven percent of agents said that clients were at least somewhat interested in sustainability.
Moving forward, 49% of respondents said commercial property owners should focus on improving energy efficiency on existing buildings, while 43% of agents are concerned about the lack of property data available about a building’s performance history. Of those agents who had requests for property history information, 75% said clients wanted to know about energy efficient features, 53% wanted to know about green certifications and 42% were curious about a recycling program.
Realtors® surveyed said they considered themselves either average (40%) or low (38%) when asked about their knowledge of energy efficiency and sustainability management for commercial properties.