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In July 2024, NAR surveyed its members about sustainability issues facing the industry.
Key Findings
- 18% of respondents reported that their Commercial Information Exchange (CIE) had green data fields, compared to 32% that did not have green data fields.
- A majority of agents and brokers (63%) said that energy efficiency promotion in listings was very or somewhat valuable.
- 32% of REALTORS® said buildings with green certifications, such as LEED, Green Globes, or the Living Building Challenge, had increased commercial property values.
- 30% of REALTORS® said buildings with green certifications, such as LEED, Green Globes, or the Living Building Challenge, spent neither more nor less time on the market.
- 38% of brokerage firms had experience working with commercial building repurposing, such as converting empty malls into technical schools.
- 55% of respondents were extremely comfortable or comfortable answering clients' questions about building performance, while 17% said they were uncomfortable or extremely uncomfortable.
- The building features that REALTORS® believed were most important to clients included utility and operations costs (35%), indoor air quality (21%), energy-efficient windows/doors (17%), and efficient use of lighting (13%).
- Market issues and considerations agents and brokers listed as important included improving the energy efficiency on existing buildings (43%), lack of property data about building performance history (34%), and understanding lending options for sustainable properties (29%).
About the REALTOR® Sustainability Program
The National Association of REALTORS® (NAR) is a leader in the dialogue on real estate sustainability among real estate agents, brokers, trade associations, and consumers. Identifying the growth of sustainability in real estate, the REALTOR® Sustainability program conducts outreach to members, trade associations, and agencies to raise awareness and engagement in NAR sustainability efforts.
The program coordinates association benefits and resources for its members and is responsible for the implementation of NAR's Sustainability and Resilience Plan. It also introduces corporate social responsibility and triple bottom line concepts into NAR's decision-making practices, allowing NAR to educate and support sustainability in real estate through environmental, social, and economic contexts.
