Is the sustainability debate going to have an effect on Real Estate Agency practice?

Posted: 1 Oct 2008

A noticeable shift in public attitude towards climate change is behind a move by Australian and New Zealand governments to consider schemes that will make it easier for home buyers and tenants to compare the environmental sustainability of homes.

Five star energy ratings for new homes and for substantial extensions is now mandatory in some States in Australia, so it is natural that property seekers will ask questions about the environmental sustainability of existing homes.
Recent research revealed that 93% of people surveyed stated that water and energy saving features were important factors for them when considering buying a property. This demand will increase and it is likely that we will see Real Estate Agents displaying energy ratings on their property advertisements.
A trend is now evident in the rental market to encourage property owners to install water flow showerheads, low voltage light globes and dual flush toilets. Improving energy efficiency in rental properties can provide benefits for both landlords and tenants and many improvements undertaken to make an investment property more energy efficient can be claimed as tax deductions.
The questions for agency owners is- Are you being proactive in informing your clients of the customers’ demands and will this provide a unique opportunity for the industry to play a role in decreasing the pace of global warming?